IBJNews

State's unemployment rate drops to 8 percent

Back to TopCommentsE-mailPrintBookmark and Share

Indiana’s unemployment rate fell for the second straight month in October, to 8 percent.

The Indiana Department of Workforce Development said Tuesday morning that the rate decreased from 8.2 percent in September and 8.3 percent in August. The rate was 9.1 percent in October 2011.

The state added 7,700 private-sector jobs in October, marking the largest monthly gain since May, the department said.

“Over the past year Indiana has experienced one of the strongest periods of job growth in over a decade,” DWD Commissioner Scott B. Sanders said. “Since last October, we have added nearly 67,000 private-sector jobs and continue to significantly outpace the national rate of growth.”

The October rate was higher than the national rate of 7.9 percent, but lower than all neighboring states except for Ohio, which saw unemployment fall to 6.9 percent.

Indiana’s jobless rate has been at 8 percent or above in all but two months since December 2008.

Statewide non-farm employment in October totaled just under 3.2 million on a seasonally adjusted basis. A total of 234,740 people sought unemployment benefits, down from a revised 237,319 in September.

Job sectors showing employment gains in October included leisure and hospitality (5,200), manufacturing (3,100), and trade, transportation and utilities (2,200).

Sectors showing the biggest employment loss were professional and business services (-1,500) and financial activities (-1,100).

In the Indianapolis metro area, the non-seasonally adjusted jobless rate was 7.1 percent in October, down from 8.4 percent in October 2011. However, the area lost jobs, dropping to 891,506 in October from 910,709 a year earlier.

Comparisons of metro areas are more accurately made using the same months in prior years because the government does not adjust the figures for factory furloughs and other seasonal fluctuations.
 
 

ADVERTISEMENT

  • Is Indy area population shrinking?
    Indy metro unemployment rate has dropped from 8.4% to 7.1% while Indy metro lost 2.1% of its jobs? Expressed another way: The reported number of unemployed in the Indy metro dropped from 83,515 to 68,135. So we have 19,203 less people employed in the Indy metro at the same time that we have 15,380 less people unemployed. Thus, we have 34,583 less people in the workforce in the Indy metro. That's the real story. Is the Indy metro population decreasing or are there 35,000 more people that have given up on seeking work in the last year?

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. How can any company that has the cash and other assets be allowed to simply foreclose and not pay the debt? Simon, pay the debt and sell the property yourself. Don't just stiff the bank with the loan and require them to find a buyer.

  2. If you only knew....

  3. The proposal is structured in such a way that a private company (who has competitors in the marketplace) has struck a deal to get "financing" through utility ratepayers via IPL. Competitors to BlueIndy are at disadvantage now. The story isn't "how green can we be" but how creative "financing" through captive ratepayers benefits a company whose proposal should sink or float in the competitive marketplace without customer funding. If it was a great idea there would be financing available. IBJ needs to be doing a story on the utility ratemaking piece of this (which is pretty complicated) but instead it suggests that folks are whining about paying for being green.

  4. The facts contained in your post make your position so much more credible than those based on sheer emotion. Thanks for enlightening us.

  5. Please consider a couple of economic realities: First, retail is more consolidated now than it was when malls like this were built. There used to be many department stores. Now, in essence, there is one--Macy's. Right off, you've eliminated the need for multiple anchor stores in malls. And in-line retailers have consolidated or folded or have stopped building new stores because so much of their business is now online. The Limited, for example, Next, malls are closing all over the country, even some of the former gems are now derelict.Times change. And finally, as the income level of any particular area declines, so do the retail offerings. Sad, but true.

ADVERTISEMENT