October Indiana Employment Report
Indiana’s labor force participation rate for September also has been revised downward by BLS, from 63.0% to 62.9%.
BLS made the revision after discovering an immediate change needed to the unemployment rate model that affected the East North Central Region, which includes Indiana, Illinois, Michigan, Ohio and Wisconsin.
BLS said unemployment statistical models used to calculate labor force data have been greatly affected by the COVID-19 pandemic. Effective October 2021, BLS changed its approach to detecting and adjusting for outliers in monthly statewide data. The distortions made to January-August 2021 statewide labor force estimates will be modified during the annual benchmarking process in February 2022.
For more information from BLS, please click this link:https://www.bls.gov/lau/launews1.htm.
Indiana’s unemployment ratestands at 3.3 percent for October, and the national rate is 4.6 percent. The monthly unemployment rate is a U.S. Bureau of Labor Statistics (BLS) indicator that reflects the number of unemployed people seeking employment within the prior four weeks as a percentage of the labor force.
Indiana’s labor forcehad a net decrease of 9,183 over the previous month. This was a result of a decrease of7,030 unemployed residents anda decrease of 2,153 employed residents.
Indiana'stotal labor force, which includes both Hoosiers employed and those seeking employment,stands at 3.33 million, and the state’s62.7 percent labor force participation rate remains above the national rate of61.6 percent.
Learn more about how unemployment rates are calculated here: http://www.hoosierdata.in.gov/infographics/employment-status.asp.
Employment by Sector
Private sector employment has increased by 66,000 over the yearand increased by 14,600 over the previous month. The monthly increase isprimarilydue to gains in theManufacturing (5,800)and the Trade, Transportation and Utilities (4,100)sectors. Gains were offset by losses in the Private Education and Health Services(-1,000) and the All Other, whichincludes Mining, Logging, Information, and other services except Public Administration,(-200)sectors. Total private employment stands at 2,670,500, which is 70,000 belowthe December 2019 peak.
Midwest Unemployment Rates
Data are sourced from October Current Employment Statistics, Local Area Unemployment Statistics – U.S. Bureau of Labor Statistics
October employment data for Indiana Counties, Cities and MSAs will be available Monday, November 22, 2021, atnoon(Eastern) pending U.S. Bureau of Labor Statistics validation.
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