IBJNews

State adds jobs in February at healthy clip

Back to TopCommentsE-mailPrintBookmark and Share

Employment increased in both Indiana and the Indianapolis metro area in February, while the jobless rate crept up as more Hoosiers began looking for work.

The state unemployment rate inched up to 8.7 percent in February from 8.6 percent in January, the Indiana Department of Workforce Development reported Friday.

The state added 9,300 jobs, bringing total non-farm employment of 2,938,800 on a seasonally adjusted basis—up 0.3 percent from January and 1.7 percent more than in February 2012. The department pointed out that employment has increased in 38 of 42 months since July 2009.

While the number of Hoosiers with jobs is rising, employment has not yet rebounded to its most recent peak of 2,985,100 in 2007, let alone the record of 3,006,200 in January 2000.

Statewide hiring in manufacturing; leisure and hospitality; and trade, transportation and utilities all surged for the month. Government hiring, a category that includes public schools and hospitals, also climbed in February, although the total number of government employees was down from a year earlier.

The number of workers in the information and education and health sectors shrank from January.

Despite the net increase in jobs, the state unemployment rate rose because of a greater number of Hoosiers entering the work force.

The jobless rate in the Indianapolis area stood at 8.5 percent, up slightly from a year earlier, also because of more people entering the work force.

In the metro area—where figures are not adjusted for seasonally fluctuations, and thus are best compared with the same month a year earlier—employment increased 1.5 percent from February 2012 to 909,600 workers.

As was the case statewide, manufacturing showed strong growth, as did professional and business services, which has been fueled by a boom in the subcategory of temporary workers. Retailing also showed vigor.

An index designed by Indiana University to forecast the state economy over several upcoming months suggests growth will remain lackluster to modest.

The Leading Index for Indiana, released earlier this month, predicted slight improvement, which was consistent with an overall trend in the index since early 2009.

The index, at 100.9 in March, is compiled by the Indiana Business Research Center in the Kelley School of Business.
 

ADVERTISEMENT

Post a comment to this story

COMMENTS POLICY
We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
 
You are legally responsible for what you post and your anonymity is not guaranteed.
 
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
 
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
 
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
 

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by
ADVERTISEMENT

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
 
Subscribe to IBJ
  1. The $104K to CRC would go toward debts service on $486M of existing debt they already have from other things outside this project. Keystone buys the bonds for 3.8M from CRC, and CRC in turn pays for the parking and site work, and some time later CRC buys them back (with interest) from the projected annual property tax revenue from the entire TIF district (est. $415K / yr. from just this property, plus more from all the other property in the TIF district), which in theory would be about a 10-year term, give-or-take. CRC is basically betting on the future, that property values will increase, driving up the tax revenue to the limit of the annual increase cap on commercial property (I think that's 3%). It should be noted that Keystone can't print money (unlike the Federal Treasury) so commercial property tax can only come from consumers, in this case the apartment renters and consumers of the goods and services offered by the ground floor retailers, and employees in the form of lower non-mandatory compensation items, such as bonuses, benefits, 401K match, etc.

  2. $3B would hurt Lilly's bottom line if there were no insurance or Indemnity Agreement, but there is no way that large an award will be upheld on appeal. What's surprising is that the trial judge refused to reduce it. She must have thought there was evidence of a flagrant, unconscionable coverup and wanted to send a message.

  3. As a self-employed individual, I always saw outrageous price increases every year in a health insurance plan with preexisting condition costs -- something most employed groups never had to worry about. With spouse, I saw ALL Indiana "free market answer" plans' premiums raise 25%-45% each year.

  4. It's not who you chose to build it's how they build it. Architects and engineers decide how and what to use to build. builders just do the work. Architects & engineers still think the tarp over the escalators out at airport will hold for third time when it snows, ice storms.

  5. http://www.abcactionnews.com/news/duke-energy-customers-angry-about-money-for-nothing

ADVERTISEMENT