Indiana’s unemployment rate dropped to 3 percent in June, hitting its lowest mark in almost 17 years, the state’s Department of Workforce Development announced Friday.
The state’s jobless rate hasn’t fallen that low since November 2000 and is near the record low of 2.9 percent that it hit during several months in 1998, 1999 and 2000.
The jobless rate in Indiana has fallen from 4.5 percent a year ago.
Indiana’s labor force—which is composed of both employed and unemployed-but-willing-to-work residents—decreased by 2,427 workers from May to June, to more than 3.33 million, with an increase in employment of 4,088 and a decrease in unemployment of 6,515, the state said.
Indiana’s labor-force participation rate—the percentage of the state’s population that is either employed or actively seeking work—fell one-tenth of a point, to 64.4 percent, in June. It remains well ahead of the national rate of 62.8 percent.
"We are pleased to see Indiana's unemployment rate go lower this past month and stay at its lowest levels since the mid-1990s,” DWD Commissioner Steve Braun said in written comments. “We believe this is an indication of the state's ongoing strong economy."
The state saw a gain of 10,100 private-sector jobs during the month. Private-sector employment has grown by more than 45,700 over the past year.
The biggest job gains were seen in the sectors of Professional and Business Services (3,500) and Private Educational & Health Services (3,000).
Losses were seen in the Transportation, Trade and Utilities (-1,700) and Construction (-900) sectors.
Indiana’s unemployment rate in June was lower than the rate in neighboring states Michigan (3.8 percent), Illinois (4.7 percent), Ohio (5 percent) and Kentucky (5.1 percent).
Only five states (North Dakota, Colorado, Hawaii, Nebraska and New Hampshire) had lower rates than Indiana.
The national rate was 4.4 percent in June.
Unemployment rates were lower in June in 10 states, higher in two states, and stable in 38 states and the District of Columbia, the U.S. Bureau of Labor Statistics reported Friday.
Colorado and North Dakota had the lowest unemployment rates in June at 2.3 percent each. Alaska had the highest jobless rate at 6.8 percent.