Indiana’s private sector added 9,000 jobs in May, the largest monthly increase since February of 2012. Growth occurred at twice the national average for the month (0.4 percent vs. 0.2 percent). Private sector employment in the Hoosier State is now at pre-recession levels not seen since July of 2008.
Indiana’s seasonally adjusted unemployment rate also fell for the second month in a row by 0.2 percent to 8.3 percent. April and May rate decreases signify the largest two month drop since early last year.
Indiana was one of only two Midwestern states to experience a decrease in rate for the month. So far in 2013, initial claims for unemployment insurance benefits are at their lowest levels since 2000.
“May was quite a positive month for job growth in the Hoosier State,” said Scott B. Sanders, Commissioner of the Indiana Department of Workforce Development. “Most tangible employment measures seem to be trending in the right direction for the moment, which is cause for cautious optimism.”
Sanders also noted Indiana has added 45,300 private sector jobs over the past year, more than one-third of which have occurred since January. Thirteen percent of private sector growth over the past year has come from manufacturing as Indiana continues to have more manufacturing jobs as a percentage of the private sector than any other state.
Employment by Sector
Sectors showing gains in May include: Trade, Transportation & Utilities (4,100), Leisure and Hospitality (3,300), Professional & Business Services (2,500) Financial Activities (1,400), and Construction (400). The Private Educational & Health Services (-1,600), and Manufacturing (-800) sectors showed declines. Total non-farm employment increased in May (7,500).
Source: Inside INdiana Business