Chesterton Tribune

 

 

Indiana jobless rate inches up in October, drops here in NWI

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By KEVIN NEVERS

The state’s jobless rate rose in October to 3.9 percent, from 3.8 percent in September, the Indiana Department of Workforce Development (DWD) is reporting.

DWD noted that 3.9 percent is lower than the national rate in October of 4.1 percent. “With the exception of one month when it was equal (October 2014), Indiana’s unemployment rate now has been below the U.S.. rate for four full years,” DWD said.

The unemployment rate is a U.S. Bureau of Labor Statistics indicator which reflects the number of unemployed people seeking employment within the prior four weeks as a percentage of the labor force.

The state’s labor force had a net decrease of 11,694 over the previous month, which was a result of 2,351 unemployed residents seeking employment and a 14,045 decrease in residents employed, DWD said. Indiana’s total labor force stood at 3.3 million, while the state’s 64.2-percent labor force participation rate remains above the national rate of 62.7 percent.

Private sector employment has grown by more than 22.600 over the year, and has increased by 2,500 over September, DWD added. Notable private-sector gains in October: financial activities (+3,400); and trade, transportation, and utilities (+2,100). Notable private-sector losses in October: professional and business services (-3,000); and construction (-2,400).

Total private employment stood at 2,691,600 in October and is 14,700 above the November 2016 peak.

Regionally, Locally

Here in Northwest Indiana unemployment rates were generally down in October, continuing a trend set in September and following spikes in the late spring and summer.

In Porter County the seasonally unadjusted unemployment rate in October fell to 3.8 percent, from 4.0 percent in September (4.4 percent in October 2016).

In Lake County the unemployment rate in October dropped to 5.0 percent, from 5.3 percent in September (5.5 percent in October 2016). In LaPorte County the unemployment rate in October fell to 4.2 percent, from 4.4 percent in September (5.0 percent in October 2016).

In Chesterton the unemployment rate in October dropped to 3.6 percent, from 3.9 percent in September (4.4 percent in October 2016).

In Valparaiso the unemployment rate in October was stable at 3.9 percent, the same as in September (4.5 percent in October 2016).

In Portage the unemployment rate in October fell by half a point, to 4.4 percent from 4.9 percent in September (5.2 percent in October 2016).

Unemployment rates elsewhere in October:

* In Gary the rate dropped by nearly half a point, to 7.9 percent from 8.3 percent (8.4 percent in October 2016).

* In East Chicago the rate slid to 7.2 percent, from 7.4 percent in September (8.5 percent in October 2016).

* In Hammond the rate also fell by nearly half a point, to 5.6 percent from 6.0 percent in September (5.9 percent in October 2016).

* In Michigan City the rate dropped to 4.8 percent, from 5.0 percent in September (6.0 percent in October 2016).

* In LaPorte the rate fell by fully half a point, to 4.2 percent fro 4.7 percent (4.8 percent in October 2016).

Alternative Measures

The official national unemployment rate in October fell to 4.1 percent, from 4.2 percent in September (4.7 percent in October 2016).

However--according to the U.S. Bureau of Labor Statistics--if “discouraged workers,” all other “marginally attached workers,” and “total part-time for economic reasons” are included in the tally, then the unofficial unemployment rate in October was 7.9 percent, down from 8.3 percent in September (9.2 percent in October 2016).

“Marginally attached workers” are those “who indicate that they want a job, have looked for work in the last 12 months (or since the last time they looked for work if they worked in the last 12 months) and are available for work.”

“Discouraged workers” are not currently looking for work for several reasons, including their belief that no job is available to them in their line or in their area. Persons employed part-time for economic reasons are those “who want and are available for full-time work but have had to settle for part-time.”

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Posted 11/21/2017

 
 
 
 

 

 

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