Unemployment rate drops to 3.7 percent

INDIANAPOLIS (December 22, 2017)  Indiana’s unemployment rate stands at 3.7 percent for November and remains lower than the national rate of 4.1 percent. With the exception of one month when it was equal (October 2014), Indiana’s unemployment rate now has been below the U.S. rate for more than four years. 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. Indiana’s labor force had a net decrease of 15,398 over the previous month, which was a result of 5,516 unemployed residents no longer seeking employment, and a 9,882 decrease in residents employed within the past four weeks. Indiana’s total labor force stands at 3.32 million, and the state’s 63.9 percent labor force participation rate remains above the national rate of 62.7 percent.