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Indiana unemployment rate ticks up in November, highest in more than two years

By Brandon Smith

Posted December 22, 2023

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A sign welcomes job seekers to the "Second Chances Job Fair" in South Bend.

Indiana's unemployment rate in November 2023 is the same as the U.S. rate, the first time the state hasn't been lower than its national counterpart in more than three years. (Justin Hicks/IPB News)

Indiana’s unemployment rate ticked up a tenth of a percentage point last month, to 3.7 percent — the highest the rate has been in more than two years.

A 3.7 percent unemployment rate for Indiana matches the national unemployment rate. That’s the first time the state rate hasn’t been lower than the overall U.S. rate in more than three and a half years.

An economic outlook delivered to state lawmakers this week projects employment growth will slow significantly in 2024 and forecasts job losses in the two years after that. Still, that same forecaster a year ago predicted Indiana would see jobs increase by just 0.4 percent this year; job growth has actually been around 2 percent for the Hoosier State.

Join the conversation and sign up for the Indiana Two-Way. Text "Indiana" to 73224. Your comments and questions in response to our weekly text help us find the answers you need on statewide issues, including our project Civically, Indiana.

Indiana’s labor force participation rate — a key number that measures both people with a job and those actively looking for work — halted a three-month decline in November, holding steady at 63.3 percent, better than the national rate.

Brandon is our Statehouse bureau chief. Contact him at bsmith@ipbs.org or follow him on Twitter at @brandonjsmith5.