IN Brief

Unemployment rate ticks up

By: - September 20, 2022 2:23 pm

The August unemployment report shows a slight increase. (Department of Workforce Development graphic)

Indiana’s unemployment rate inched up last month, from 2.6% in July to 2.8% in August. Earlier this year it hit an historic low of 2.2%.

“The best news in this report is that both the number of Hoosiers employed and the Indiana labor force as a whole continue to grow. This means more Hoosiers are taking advantage of employment opportunities that exist,” said Department of Workforce Development Interim Commissioner Josh Richardson. “While the state’s unemployment rate increased slightly, the number of job openings continues to exceed the number of Hoosiers looking for work, and it remains a good time for Hoosiers to find a job, or pursue training to resume or advance their careers.”

There were 3.401 million Hoosiers in the labor force in August, an increase of 7,761 from the previous month and the highest level since February 2020, when the historic high was recorded.

The DWD said the labor force participation rate was 63.4% in August as compared to 63.3% in July and 62.4% of people nationwide. Indiana’s labor force is the total number of people working and actively seeking work as pulled from a phone survey.

The unemployment rate isn’t tied to the number of Hoosiers receiving unemployment benefits.

DWD also reported there are now 2.766 million Hoosiers working in the private sector, a historic peak in private-sector employment. But while jobs are growing in trade, transportation and utilities Indiana currently has an estimated 145,000 open job postings around the state.

The nation’s unemployment rate also went up slightly in August, from 3.5% to 3.7%.

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