Indiana’s unemployment rate is at its lowest level in more than seven years, falling below five percent in June.
The Hoosier State’s unemployment rate decreased to 4.9 percent last month, the first time it’s been below five percent since February of 2008. June marks the fifth consecutive month the rate has declined, and since January of 2013, only one other state – Rhode Island – has decreased its unemployment rate more than Indiana.
Yet for the first time in four months, the state’s private sector lost jobs, shedding 3,800 people last month. The biggest loss – 3,600 jobs – was in the trade, transportation and utilities sectors.
Still, in a statement Governor Mike Pence praised the Hoosier economy, saying Indiana is, in his words, “strong and growing stronger.”
The Indiana Democratic Party noted the state’s GDP growth has been one of the slowest in the country, with wages that are lagging behind the national average.