For the first time in six months, Indiana’s unemployment rate didn’t go up, holding steady at nine percent.
Private sector jobs increased by 1,700 in November, but the unemployment rate stayed flat because of more people entering the labor force. Indiana’s work force went up more than 13,000 last month, with a nearly 50,000 worker increase in the last four months. And Ball State economist Michael Hicks says that’s a good sign.
“There are a number of academic studies that suggest that the spiking labor force is a pre-indicator of later job growth, that workers out there really have a very good sense about who is hiring and when that hiring will take place,” he says.
Hicks says while the employment report overall is positive, he’d like to see steady job growth of 12 to 15 thousand. And though he says Indiana’s economy has been one of the more resilient in the country, he can’t imagine that kind of job growth until after 2012.