Indianapolis, In. — Indiana continues to rank as one of the most attractive states for companies to locate and expand, outperforming much of the nation last month in key areas of employment and job growth.
The Indiana Department of Workforce Development recently reported the state’s unemployment rate in October remained at 3.5 percent and lower than the national rate of 3.7 percent.
Indiana’s unemployment rate ranks ninth in the nation and has decreased 7.1 percentage points since July 2009—the high point of unemployment in the state.
The October report also showed that more Hoosiers are working than ever before. Private employment reached a preliminary record high of 2.7 million, which is 24,300 above the official December 2017 peak. Indiana has reported private-sector job growth of 25,500 over the past year.
Indiana’s labor force participation rate has now outperformed the national average for 53 consecutive months. In October, the rate stood at 65.1 percent and well above the national average of 62.9 percent.
Below is a breakdown of where Indiana ranks in certain employment categories:
- second in Manufacturing jobs added (104,600) since July 2009;
- seventh in Private Education & Health Services jobs added (2,500) over the month;
- seventh in Construction jobs added (11,100) over the year; and
- fifth in Financial Activities job growth (3.2 percent) year-to date