INDIANAPOLIS (WTWO/WAWV) — Hoosiers are slowly getting back to work. The state’s unemployment rate dropped to 7.8% for July, down from 11.1% in June, according to the Indiana Department of Workforce Development.
Nationwide, the unemployment rate stands at 10.2%.
Indiana’s total labor force, which includes both Hoosiers employed and those seeking employment, stands at 3.31 million. The state’s 62.8% labor force participation rate is above the national rate of 61.4%. The IDWD reports that July saw a decrease of 117,983 unemployed residents and an increase of 42,242 employed residents.
Private sector employment increased by 40,500 over the previous month but has decreased by 127,000 over the year. Gains came in the Leisure and Hospitality (23,100) and the Professional and Business Services (11,100) sectors. The construction industry, however, shed another 100 workers. Total private sector employment stands at 2,601,500, 147,800 below its peak in January 2019.
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.