Unemployment Rate Rises Again in Indiana as Private Sector Employment Hits All-Time High | Northwest Indiana Commercial Securities

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Indiana’s unemployment rate rose again to 2.6% in July from 2.4% in June and from an all-time low of 2.2%, where it had been flat for the previous three months .

There were 3.393 million Hoosiers participating in the labor force in July, an increase of 15,331 from the previous month and the highest level since December 2019. The labor force participation rate was 63.3% in July compared to 63.1% in June and 62.1% of people nationally, according to the Indiana Department of Workforce Development.

Indiana’s labor force is the total number of people working and actively seeking work, extrapolated from a telephone survey. According to the Indiana DWD, a total of 3.298 million Hoosiers were working in July, while 100,203 were either unemployed and looking for work, or available for work now.

Contrary to popular belief, the unemployment rate is not linked to the number of people receiving unemployment benefits, which stood at 15,366 in July.

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The national unemployment rate was 3.5% in July, down from 3.6% in July.

There are now 2.767 million Hoosiers working in the private sector, an all-time peak in private sector employment.

“The Hoosiers’ labor force participation rate continues to rise, and there remains a wide range of opportunities for people looking to resume their careers or begin their search for the next one,” the acting commissioner said. of the DWD, Josh Richardson. “Job vacancies remain high, and employers are ready to add new workers who are ready to learn and provide the training needed to integrate them into their team.

Private sector employment in Indiana increased by 77,000 year over year, increasing by 2,900 jobs in July. Last month, Hoosier State added 4,500 jobs in commerce, transportation and public services, 2,500 in private education and health services and 300 in financial activities.

Indiana currently has approximately 156,813 open job openings in the state.

In Illinois, unemployment fell 0.1 percentage points to 4.4% in July, the lowest rate since the start of the COVID-19 pandemic.

Illinois gained 31,200 jobs in July, according to the Illinois Department of Employment Security. Last month, the state added 10,000 jobs in professional and business services, 6,300 in recreation and hospitality, and 5,700 in commerce, transportation and utilities. The state lost 1,400 construction jobs and another 1,400 in education and health services.

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