Chesterton Tribune

 

 

Jobless rate in July marginally up statewide, marginally down in NWI

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By KEVIN NEVERS

The state’s unemployment rate in July rose marginally to 3.4 percent, from 3.3 percent in June (3.6 in July 2017), the Indiana Department of Workforce Development (DWD) reported last week.

The 3.4 rate in July remain lower than the national unemployment rate of 3.9 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 more than four years.

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

In July, Indiana’s labor force showed a net increase of 15,564 over June, a result of an increase of 2,964 in unemployed residents and a 12,600 increase in employed residents, DWD said. Indiana's total labor force, which includes both Hoosiers employed and those seeking employment, stands at 3.38 million, and the state’s 64.8 percent labor force participation rate remains above the national rate of 62.9 percent. Indiana's labor force growth of 67,519 over the past six months represents the state's largest six-month increase since 1995 in the state.

In addition, Indiana's initial unemployment insurance claims continue to be at historical lows, DWD said.

Private sector employment has grown by more than 24,800 over the year, and in July increased by 5,600 over June, primarily due to gains in professional and business services (+2,700) and construction (+2,000).

Gains were partially offset by losses in other (-1,000), which includes mining and logging, IT, and other services; and financial activities (-400) sectors.

Total private employment stands at 2,703,800 and is 14,900 above the December 2017 peak.

Regionally and Locally

Here in Northwest Indiana, on the other hand, jobless rates in July were generally down fractionally or stable.

In Porter County the seasonally unadjusted unemployment rate in July dropped to 3.9 percent, from 4.0 percent in June (4.0 percent in July 2017).

In Lake County the unemployment rate in July slid to 4.9 percent, from 5.0 percent in June (5.1 percent in July 2017). In LaPorte County the unemployment rate in July to 4.2 percent, from 4.4 percent in June (4.2 percent in July 2017).

In Chesterton the unemployment rate in July dropped to 3.9 percent, from 4.0 percent in June (3.9 percent in July 2017).

In Valparaiso the unemployment rate in July fell to 3.6 percent, from 3.7 percent in June (4.0 percent in July 2017).

In Portage the unemployment rate in July was down by nearly half a point, to 4.3 percent from 4.7 percent in June (4.7 percent in July 2017).

Unemployment rates elsewhere in July:

* In Gary the rate fell to 7.3 percent, from 7.5 percent in June (7.9 percent in July 2017).

* In East Chicago the rate remained stable at 6.5 percent, the same as in June (7.2 percent in July 2017).

* In Hammond the rate also remained stable at 5.2 percent, the same as in June (5.4 percent in July 2017).

* In Michigan City the rate slipped to 4.8 percent, from 4.9 percent in June (5.0 percent in July 2017).

* In LaPorte the rate dropped by fully half a point, to 3.9 percent from 4.4 percent in June (4.2 percent in July 2017).

Alternative Measures

The official national unemployment rate in July was 3.9 percent, down from 4.0 percent in June (4.6 percent in July 2017).

However--according to the U.S. Bureau of Labor Statistics--if “discouraged workers, all other “marginally attached workers,” and “total part-time employed for economic reasons” are included in the tally, then the unofficial national unemployment rate in July was 7.5 percent, down from 7.8 percent in June (8.9 percent in July 2017).

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 worked 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 a part-time schedule.”

 

Posted 8/21/2018

 
 
 
 

 

 

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