Indiana’s unemployment rate decreased 0.3 percent to 5.1 percent in May. This is the second month in a row the Hoosier State experienced significant declines in unemployment. The Hoosier labor force grew by nearly 1,400 individuals in May and is up more than 19,000 over the past year. Since January 2013, Indiana’s labor force has increased by 64,000, the second largest growth in the Midwest. During this same period, Indiana’s unemployment rate has also decreased by 3.3 percent.
Indiana’s labor force participation rate of 63.3 percent in May continued to outpace the national average by nearly one-half of a percentage point. May marked the 20th month in a row Hoosier labor force participation has exceeded the national average.
Looking at Marshall County you will see us below the state average with an unemployment rate of 4.1%. Taking a look at the counties that surround Marshall you will find four others lower than the state average, Pulaski and Fulton Counties are at 4.5%, Kosciusko and Elkhart counties are at 3.8%. The state map also shows three counties surrounding Marshall higher than the state’s average of 4.8%. Starke County was at 5.9% in May while LaPorte County was 6% and St. Joseph was 5.1%.
Private sector employment grew by 9,700 jobs in May as well, led mainly by increases in the Leisure and Hospitality (+3,100), Trade, Transportation, & Utilities (+2,500), and Manufacturing (+2,000) sectors. Since January 2013, Indiana has added more than 119,000 private sector jobs, and nearly 290,000 since July, 2009, historically the low point of employment in the state. Monthly private sector increases have averaged 4,100 per month over the past two years.
Indiana is now 300 private sector jobs below the all-time peak of employment, which occurred in March of 2000.
“Indiana’s addition of 64,000 individuals to the Hoosier labor force, as well as the significant decrease in unemployment over the past two and one-half years are remarkable,” said Steven J. Braun, Commissioner of the Indiana Department of Workforce Development. “During the same period private sector jobs have increased by more than 119,000 and our labor force is consistently participating at a rate above the national average. The combination of these widely recognized leading economic indicators, as well as overall wage growth above the national average signifies a strong economic recovery to this point.”
