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State's unemployment rate drops to 8 percent

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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.
 
 

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  • 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?

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  1. If I were a developer I would be looking at the Fountain Square and Fletcher Place neighborhoods instead of Broad Ripple. I would avoid the dysfunctional BRVA with all of their headaches. It's like deciding between a Blackberry or an iPhone 5s smartphone. BR is greatly in need of updates. It has become stale and outdated. Whereas Fountain Square, Fletcher Place and Mass Ave have become the "new" Broad Ripples. Every time I see people on the strip in BR on the weekend I want to ask them, "How is it you are not familiar with Fountain Square or Mass Ave? You have choices and you choose BR?" Long vacant storefronts like the old Scholar's Inn Bake House and ZA, both on prominent corners, hurt the village's image. Many business on the strip could use updated facades. Cigarette butt covered sidewalks and graffiti covered walls don't help either. The whole strip just looks like it needs to be power washed. I know there is more to the BRV than the 700-1100 blocks of Broad Ripple Ave, but that is what people see when they think of BR. It will always be a nice place live, but is quickly becoming a not-so-nice place to visit.

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