Photo: Kate Hiscock (Flickr)
Indiana’s unemployment rate is at its lowest in more than 15 years.
The Indiana unemployment rate declined two-tenths of a percent in December, falling to 4 percent. That’s the third consecutive month the rate went down. It’s the largest three-month decline in nearly two years. And 4 percent is Indiana’s lowest rate since May 2001.
Yet the state’s private sector lost 6,000 jobs last month. Almost all of that – 5,900 jobs – came from the private education services sector. Only the manufacturing and construction industries added jobs in December.
And for the fourth consecutive month, the state’s labor force declined. The labor force measures people who either have a job or are actively looking for one. Growth in the labor force is typically viewed as a sign of optimism in the economy. Indiana’s labor force hasn’t shrunk this much in more than four years.