Indiana Jobless Rate Falls to 7.5%
The latest jobless figures are out for Indiana.
The Indiana Department of Workforce Development reports the state's seasonally adjusted unemployment rate dropped by nearly one percentage point over the past three months. The jobless rate for October is 7.5 percent which is hovering around the national rate. The decrease is the largest three month drop in more than 20 years. Private sector employment grew by 6600 jobs in October. More than half of those jobs were in manufacturing. The state jobless rate was 8.6 percent back in January.
University of Indianapolis economist Dr. Matt Will says the trend is indicative of state efforts to make Indiana more business-friendly. Will says it also shows that state fiscal policy is working. Ultimately, Will says the entire nation needs more innovators and creators to help grow the economy overall.