Indiana’s unemployment rate for November fell to 3.0% – matching a low the state has not seen in more than 20 years.
In addition, private sector employment has now increased for five of the last six months. This has resulted in a gain of 69,400 jobs from May 2021 to November 2021.
The last time Indiana’s unemployment rate was at this level was in November 2000. It had fallen to 3.1% in December 2019 and stood at 3.2% before the COVID-19 pandemic struck in March 2020.
By comparison, the national rate in November dropped to 4.2%.
“It has been more than 20 years since we saw a 3.0% unemployment rate. This, along with private employment showing gains for five of the last six consecutive months are signs of a positive and strengthening economy,” said Indiana Department of Workforce Development Commissioner Fred Payne.
The monthly unemployment rate is a U.S. Bureau of Labor Statistics (BLS) indicator that reflects the number of unemployed people seeking employment within the prior four weeks as a percentage of the labor force.
Learn more about how unemployment rates are calculated here: https://www.hoosierdata.in.gov/infographics/employment-status.asp.