Indiana’s unemployment rate continued to drop in March, to its lowest point since July 2008. According to the Indiana Department of Workforce Development, it has declined by 2 percent over the past year to its current 5.9 percent.
The labor force has increased by more than 25,000 in the first quarter of 2014.
The Hoosier State added 3,200 private sector jobs in March. Indiana ranks eighth in the nation in total private sector job growth since July, 2009, the low point of employment in the state. During that time, Indiana has grown 215,500 private sector jobs.
Over the past year, Indiana’s manufacturing job growth of 12,700 leads the nation, solidifying its position as the state with the largest percentage of manufacturing jobs as a portion of the private sector in the country.
“Indiana’s unemployment rate is now below six percent for the first time since July of 2008,” said Scott B. Sanders, Commissioner of the Indiana Department of Workforce Development. “Our rate has dropped by two percentage points in one year, which is the third largest decline in the nation. The Hoosier labor force has grown by more than 25,000 in the first quarter of 2014 alone, which is also remarkable.”
Sanders also noted claims for state unemployment insurance in March were nearly 10,000 below March 2013 levels and are at their lowest since 2007. Initial claims for unemployment insurance are at their lowest levels since 2000.