State outpaces nation in job creation; unemployment falls
Job numbers increased faster in Indiana in November than in any other state, the government reported Friday morning. The unemployment rate also dropped 0.2 points, to 7.3 percent.
Job numbers increased faster in Indiana in November than in any other state, the government reported Friday morning. The unemployment rate also dropped 0.2 points, to 7.3 percent.
The unemployment rate fell to nearly a five-year low in September, the Labor Department said Tuesday. Still, the percentage of Americans working or looking for work remained at a 35-year low.
The state saw sizable job increases in manufacturing, health services and educational sectors, but that was offset by decreases in trade, transportation, utilities and construction.
Indiana will soon require beneficiaries to appear in-person at WorkOne centers. The state hopes the counseling that people receive will reduce their job-search time by two weeks and, because they’ll have to show identification, take a big bite out of fraud.
The rate fell because more Americans stopped looking for work and were no longer counted as unemployed. The proportion of Americans working or looking for work fell to its lowest level in 35 years.
Fewer Americans are seeking unemployment benefits, but about 80 percent of the jobs created this year have been lower-paying, part-time positions.
Significant job growth came in the trade, transportation and utilities sector, which added 10,800 jobs. It was the biggest one-month rise in the sector since 1990. However, construction jobs fell by 3,400 and manufacturing dropped by 2,000.
The Labor Department said the rate fell from 7.6 percent to 7.4 percent in June. But that was one of the few good signs in an otherwise lackluster report.
Part-time employment has been outpacing full-time job growth since 2008. Economists cite still-tough economic conditions as the root cause, with some saying President Barack Obama’s 2010 health-care law exacerbates the trend.
Most of the job growth came from the manufacturing sector, which expanded by 4,300 jobs over the month, marking the largest one-month jump in manufacturing since August 2004.
Weekly applications data can be volatile in July. Automakers typically shut their factories in the first two weeks of the month to prepare for new models, which leads to a temporary spike in layoffs.
The job growth suggests a stronger economy and makes it more likely the Federal Reserve will slow its bond purchases before year’s end.
The Labor Department said the four-week average of Americans seeking unemployment aid inched up to 347,250, a third straight increase.
Jobless claims are showing gradual improvement, but for hiring to strengthen enough to lower the unemployment rate to a more normal level, companies must gain more confidence in the economy.
Indiana added 4,400 nonfarm jobs in April and the unemployment rate fell slightly, to 8.5 percent, the Indiana Department of Workforce Development reported Friday morning.
Much of the job growth has come from fewer layoffs. Overall hiring remains far below pre-recession levels.
The only sectors of the economy that cut jobs last month were construction and government.
The Indiana Department of Workforce Development said Friday morning that the loss of jobs was the first monthly decline for the state in more than a year.
The number of Americans seeking unemployment benefits increased just 4,000 last week, to a seasonally adjusted 352,000.
Employers added just 88,000 jobs in March, the fewest in nine months. The jobless rate slipped to its lowest percentage in four years, but only because more people stopped looking for work.