Indiana’s unemployment rate fell from 2.7% in December 2021 to 2.4% in January 2022—continuing a record low for the state dating back to 1976, when the current method of compiling unemployment rates began, according to the Indiana Department of Workforce Development (DWD).
In addition, private sector employment increased by 1,500 jobs over the last month and has now grown for seven of the last eight months. This has resulted in a gain of 85,800 jobs year-over-year. Total private employment now stands at 2,731,800—9,900 below the February 2019 peak of 2,741,700.
“With a 2.4% unemployment rate in January, even lower than the previous month, Indiana continues to outperform the nation as a whole,” DWD Commissioner Fred Payne said. “The low unemployment rate coincides with significant year-over-year job growth indicating that Indiana is trending in the right direction.”
By comparison, the national unemployment rate increased from 3.9% in December 2021 to 4.0% in January 2022.
Learn more about how unemployment rates are calculated here: https://www.hoosierdata.in.gov/infographics/employment-status.asp.
Indiana’s labor force had a net increase of 1,528 over the previous month, due to an increase of 10,344 employed residents and a decrease of 8,816 unemployed residents.
Indiana’s total labor force, which includes both Hoosiers employed and those seeking employment, stands at 3,304,953. The state’s labor force participation rate remains at 61.9% after year-end revisions, below the national rate of 62.2%.
Employment by Sector
The monthly increase in jobs can primarily be attributed to:
• Construction (+1,100)
• Financial Activities (+200)
Midwest Unemployment Rates
EDITOR’S NOTES:
Data are sourced from January Current Employment Statistics, Local Area Unemployment Statistics – U.S. Bureau of Labor Statistics
January employment data for Indiana Counties, Cities and MSAs will be available Tuesday, March 15, 2022, at noon (Eastern) pending U.S. Bureau of Labor Statistics validation.