Hoosier Unemployment Rate Holds Steady in May
Indiana’s unemployment rate in May failed to drop for the first time in nine months, holding steady at 5.7 percent.
Indiana’s private sector added 4,800 jobs last month, yet the unemployment rate remained unchanged.
The Department of Workforce Development says that’s because the state’s labor force increased, with about 2,000 unemployed Hoosiers actively resuming the job hunt. The state’s unemployment rate remains more than half a percent below the national average. And it’s dropped nearly two percent in just one year, with 4,600 jobs added since May 2013.
Governor Mike Pence says there are plenty of reasons to be encouraged about Indiana’s economy.
“We’ll finish this fiscal year with a hundred million dollars surplus, nearly two billion in reserves and that will continue to send a very, very strong message around the country about the fiscal strength of the state of Indiana,” Pence said.
Indiana’s rate is far below almost all of its neighboring states. Only Ohio sits lower at 5.5 percent.