Indiana’s unemployment rate climbs to 3% for the first time in a year

Indiana’s unemployment rate rose to 3% in October from 2.8% in September after staying below 3% for a full year.

In October, 3.397 million Hoosiers participated in the labor force, down 3,724 from the previous month. The participation rate fell to 63.3% in October, down from 63.4% in September and above the national rate of 62.2%, according to the Indiana Department of Workforce Development.

Indiana’s labor force is the total number of people working and actively seeking work as extrapolated from a telephone survey. An estimated 118,916 people were unemployed and looking for work or were now available.

Contrary to popular belief, the unemployment rate is not tied to the number of jobless claimants, which was 17,622 in October.

There are now 2.782 million Hoosiers working in the private sector, an all-time high for private sector employment.

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Indiana private sector employment is up 83,000 year-on-year, up 6,900 jobs since September. Last month, the state of Hoosier added 2,800 jobs in manufacturing, 1,900 in private education and health services, 1,200 in financial activities and 1,100 in leisure and hospitality.

Indiana currently has an estimated 142,024 job openings statewide.

Last month, the national unemployment rate rose to 3.7% in October from 3.5% in September.

In Illinois, unemployment rose to 4.6% in October from 4.5% in September.

According to the Illinois Department of Employment Security, Illinois added 3,600 jobs in October, its 17th consecutive month of job growth. Last month, the state added 2,800 jobs in trade, transportation and utilities, 2,300 in leisure and hospitality, 1,800 in manufacturing and 1,800 in professional and business services.

Illinois’ unemployment rate in October is 0.9 percentage points higher than the national rate, but 0.7 percentage points lower than a year ago when it was 5.3%.

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