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Unemployment Rate Lowest In Nine Years

State House

Indiana’s unemployment rate fell to its lowest point last month in more than nine years.

The unemployment rate decreased in October by a 0.1 percent, down to 4.4 percent – its lowest level since May 2007.

One reason for the dip, the private sector added jobs for the seventh consecutive month, with 3,400 in October. And the Hoosier State’s unemployment rate is once again lower than its neighboring states – all of which saw an increase last month.

But the overall labor force is a continued source of concern. The labor force is the total number of people either with a job or actively looking for work. Growth in the labor force is often viewed as a sign of optimism in the economy. But in September, the total labor force declined for the first time in more than four years.

And last month, it dropped again, this time by more than 16,000 people.

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