The Indiana unemployment rate fell to 6.1% last month. That’s its lowest level in nearly six years.
The private sector added 5,400 jobs. The number of unemployed Hoosiers is below 200,000 for the first time since August of 2008, and the difference between the state and national unemployment rate is the largest in a decade.
Yet Indiana tax revenues are nearly $90 million below projections through three-quarters of the fiscal year.
Governor Mike Pence says while Hoosiers should be encouraged by the continued drop in unemployment, he says he knows the work isn’t done.
“Obviously the very difficult winter through which we just passed impacted our January numbers,” Pence said. “We remain very confident that, as we go forward, we’re going to be able to continue to use the authority we have to manage the state’s budget in a way that preserves our surpluses and preserves our reserves.”
Pence says he believes the recent tax reform legislation he signed into law this week will help put state tax revenues on the same positive path that the unemployment rate has been following.