Indiana's unemployment situation appears to be stabilizing as the jobless rate held almost steady for the third month in
a row, the Indiana Department of Workforce Development said this morning.
The July seasonally adjusted unemployment rate of 10.6 percent represented a decrease of one-tenth of a percentage point, a decline so minor that DWD described it as “statistically insignificant.” Unemployment also was 10.6 percent in May.
The number of unemployed Hoosiers fell to 332,688 in July from a revised 345,616 in June.
“This report clearly shows the impact of the domestic auto industry returning from bankruptcy and its summer furlough,” DWD Commissioner Teresa Voors said in a prepared statement. “Large increases in manufacturing employment and employment gains in cities like Kokomo are a direct result of Hoosier auto workers going back to work.”
The rate is still up significantly from a year ago. In July 2008, Indiana’s unemployment rate stood at 6 percent.
The non-seasonally adjusted jobless rate in the Indianapolis metro area was 8.7 percent in July, unchanged from June but up from 5 percent in July 2008.
More than 78,000 are unemployed in the metro area, according to the latest figure.
Comparisons of metro areas are most accurately made using the same months in prior years, because the government does not adjust the figures for factory furloughs and other seasonal fluctuations.