Photo: Work One
Indiana’s private sector lost nearly 6,000 jobs in September, the first decline in nearly a year, yet the state’s employment rate also fell for the first time since April from 8.3 percent in August to 8.2 percent in September.
That is a change from recent trends. Indiana’s unemployment rate had gone up or held steady for the past five months while, at the same time, the private sector created jobs.
University of Indianapolis economist Matt Will says while September’s jobs report is not positive, it also is not time to panic. Will says month-to-month employment data tends to be inaccurate and that, to get a good picture, you have to look at trends.
“If for two or three months we see private sector jobs declining, then I’d be concerned,” he says. “Right now, it’s an anomaly. I would not be that concerned about it.”
Will says part of the reason Indiana’s unemployment rate dropped last month was a decline in the number of people looking for work. He says that is happening nationwide and could indicate trouble in the future.