Chesterton Tribune

 

 

State’s jobless rate drops in November, mostly drops in NWI

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By KEVIN NEVERS

The state’s jobless rate in November dropped to 3.7 percent, from 3.8 percent in October (4.5 percent in November 2016), the Indiana Department of Workforce Development (DWD) is reporting.

That 3.7 rate remains lower than the national rate of 4.1 percent, which means that--with one exception, October 2014--Indiana’s unemployment rate has been lower than the nation’s for more than four years.

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

Indiana’s labor force had a net decrease of 15,398 over the previous month, which was a result of 5,516 unemployed residents no longer seeking employment, and of a 9,882 decrease in residents employed within the past four weeks.

Indiana’s labor force stands at 3.32 million, while its 63.9-percent labor participation rate remains above the national rate of 62.7 percent.

While private-sector employment in Indiana has grown by more than 13,700 over the year, it decreased in November by 4,200, primarily due to losses in trade, transportation, and utilities (-2,900) and in leisure and hospitality (-2,500).

Those losses were partially offset by a gain in construction (+4,900).

Total private employment stands at 2,690,000 and is 13,700 above the November 2016 peak.

Regionally, Locally

Unemployment in November was mostly down or stable in Northwest Indiana.

In Porter County the seasonally unadjusted unemployment rate in November was stable at 3.8 percent, the same as in October (4.3 percent in November 2016).

In Lake County the unemployment rate in November dropped to 4.8 percent, from 5.0 percent in October (5.3 percent in November 2016). In LaPorte County the unemployment rate in November was stable at 4.2 percent, the same as in October (5.0 percent in November 2016).

In Chesterton the unemployment rate in November dropped to 3.5 percent, from 3.6 percent in October (4.2 percent in November 2016).

In Valparaiso the unemployment rate in November fell to 3.7 percent, from 3.9 percent in October (4.4 percent in November 2016).

In Portage the unemployment rate in November slipped to 4.3 percent, from 4.4 percent in October (5.0 percent in November 2016).

Unemployment rates elsewhere in November:

* In Gary the rate dropped to 7.6 percent, from 7.9 percent in October (8.3 percent in November 2016).

* In East Chicago the rate plummeted by an entire point, to 6.2 percent from 7.2 percent in October (8.0 percent in November 2016).

* In Hammond the rate dropped by nearly half a point, to 5.2 percent from 5.6 percent in October (5.6 percent in November 2016).

* In Michigan City the rate fell by half a point, to 4.4 percent from 4.9 percent in October (5.8 percent in November 2016).

* In LaPorte the rate actually rose, to 4.5 percent from 4.2 percent in October (5.1 percent in November 2016).

Alternative Measures

The official national unemployment rate in November was stable at 4.1 percent, the same as in October (4.5 percent in November 2016).

However--according to 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 November was stable at 8.0 percent, the same as in October (9.1 percent in November 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.”

 

 

Posted 1/15/2018

 
 
 
 

 

 

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