Indiana’s unemployment rate fell in March to its lowest level in five months, but the state’s private sector also lost jobs last month.
The Hoosier unemployment rate fell one tenth of a percent to 5.8 percent in March, the second month in a row the rate went down.
But that drop may not be good news: the state’s private sector lost 800 jobs last month, fueled by huge losses – more than 5,000 – in the professional and business services sector.
So, despite the decrease, the unemployment rate still went down because of a drop in what’s called the labor force participation rate, meaning fewer Hoosiers reported looking for a job.
Department of Workforce Development Commissioner Steven Braun says Indiana economic indicators remain largely positive and notes the state’s labor force participation has been above the national average for a year.
