Photo: Dave Dugdale (Flickr)
Indiana’s unemployment rate dropped to 8 percent in October from 8.2 percent in September, the largest one month decrease since April, according to the monthly employment report released by the Department of Workforce Development. It is the largest single month drop since April and marked a decrease for the second consecutive month after gaining or holding steady for six months.
Indiana also added 7,700 private sector jobs last month. That is a turnaround from September, when the private sector lost nearly 6,000 jobs and largest increase since May.
Department of Workforce Development Commission Scott Sanders says the state’s job growth over the last year is one of its strongest in a decade, outpacing national trends and creating 67 thousand jobs in the last 12 months.
Indiana’s private sector employment is now at more than 96 percent of its pre-recession level. While the unemployment rate has hovered at or above 8 eight percent for months, Indiana University economists earlier this month predicted growth over the next year should see the rate drop to around seven percent by the end of 2013.