INDIANAPOLIS (Inside INdiana Business) — Indiana’s unemployment rate dropped to 5% in October, down from an adjusted 6.3% in September. The Indiana Department of Workforce Development says the state added more than 23,000 private sector jobs over the previous month as the recovery from the COVID-19 pandemic continues.
The state’s unemployment rate is lower than the national rate, which fell to 6.9%.
Figures from the U.S. Bureau of Labor Statistics show Indiana’s labor force saw a net decrease of 7,271 over the previous month. The state’s total labor force, which includes Hoosiers who are either employed or seeking employment, stands at 3.34 million for October.
The DWD says the increase in jobs last month was primarily due to gains in the Trade, Transportation and Utilities; Professional and Business Services; and Leisure and Hospitality sectors. The state says total private employment in Indiana stands at more than 2.6 million, which is nearly 104,000 below the January 2019 peak.
Indiana’s unemployment rate is the lowest among the surrounding states. Minnesota is the only state in the Midwest with lower unemployment at 4.6%.
Despite the drop in unemployment, thousands of Hoosiers continue to file for unemployment benefits. The state says an average of more than 14,000 initial unemployment claims were filed each week last month.