May Unemployment Report

Indiana’s unemployment rate stands at 3.2 percent for May and remains lower than the national rate of 3.8 percent.

The Indiana Department of Workforce Development says with the exception of October 2014 when it was equal, Indiana’s unemployment rate now has been below the U.S. rate for more than four years.

The monthly unemployment rate is a U.S. Bureau of Labor Statistics 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 force had a net increase of nearly 16-thousand over the previous month. This was a result of a 2,659 increase in unemployed residents and an increase of 13,269 employed residents. Indiana’s total labor force, which includes both Hoosiers employed and those seeking employment, stands at 3.33 million, and the state’s 64.3 percent labor force participation rate remains above the national rate of 62.7 percent.

In addition, Indiana’s initial unemployment insurance claims continue to be at historical lows.

We’ll have local county by county unemployment numbers on Tuesday.

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