Indiana’s unemployment rate is 4 percent, unchanged from December, maintaining the state’s lowest rate in more than 15 years. And Indiana’s unemployment rate declined more over the last year than any neighboring state.
Yet the Hoosier private sector lost jobs for the second consecutive month, down 2,200 jobs in January after a loss of 6,000 in December. Most sectors shed jobs, while the construction and financial services industries saw upticks last month.
On the positive end, Indiana’s labor force increased after four consecutive months in decline. 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.