More than 18,000 Hoosiers joined the labor force in March, marking a third consecutive month of unprecedented growth.
The Indiana Department of Workforce Development says over the past year, Indiana’s labor force has grown by over 88,000 and by over 157,000 since January of 2013. Correspondingly, the state’s labor force participation rate increased by 3 tenths of s percent last month and continues to outpace the national average by nearly two percent.
Indiana’s seasonally adjusted unemployment rate, a U.S. Bureau of Labor Statistics indicator that reflects the number of unemployed people as a percentage of the labor force, rose by 3 tenths of a percent as well over the previous month to 5 percent in March, matching the national average.
Despite the uptick in unemployment, there were 9,300 more Hoosiers employed in March than in February.
In a release workforce development Comissioner Steve Braun says over 60,000 Hoosiers joined the workforce in the first three months of 2016, which indicates worker confidence in finding and securing gainful employment in Indiana.
Braun says while the influx of workers has an effect on the unemployment rate, the fact is 9,300 more Hoosiers are employed than last month, and over 87,000 more are employed than this time last year, is a testament to Indiana’s strong and growing economy.
Braun also noted that initial unemployment insurance claims are at the state’s lowest level in more than two decades.
Today, the Communications Director of Kimball Electronics, Scott Saalman, traveled to Indianapolis to accept the Half Century Award, on behalf of the company that honors Indiana companies with 50 years of providing jobs in Indiana. Kimball Electronics has been providing jobs for 55 years.
