As America reopens, employers are now able to get back to work and provide their services to their customers. Across the nation, though, many employers have their hiring signs out and are eagerly awaiting applicants, only to find that they are not getting the influx of interest they expected. Despite restaurants in Indiana advertising for cooks, servers, and bussers, and retail stores needing help, the unemployment rate in the state went up. Indiana’s unemployment rate in May was 4%
Nationally, the jobless rate has been going down. Even though Indiana’s unemployment rate increased slightly, the state is still far below the national unemployment rate of 5.8%. The Indiana Department of Workforce Development reported that in May, Indiana’s labor force who were both working and actively out looking for employment opportunities, was up by 6,370. That month 3,292 people who were looking for work were unemployed while doing so. Out of the more than 3.3 million residents of the state of Indiana, more than 63% are a part of the labor force, which is higher than those in the labor force nationally. The national labor force participation rate is 61.2%.
What is the Most Current Indiana Unemployment Data?
The private sector is where 2.62 million Indiana residents hold jobs. Despite May seeing employment decrease by 2,700, overall Indiana’s private job sector has seen marked increases in employment as 2021 progresses. So far in 2021 the private sector had employment increase by 234,800. The decrease in employment that took place in May hit manufacturing jobs, professions involving trade, transportation, and utilities. Manufacturing was heavily impacted, with 3,600 lost jobs. Sectors that flourished in the state included leisure and hospitality professions, with 1,900 more jobs added. Construction jobs in Indiana also had a bit of a boost with an increase of 400 jobs.
When compared to surrounding states, Indiana is doing well. The state’s neighbor Illinois had an unemployment rate high above Indiana’s and the national average at 7.1%. Almost 8,000 jobs were lost in Illinois in May alone. Overall, there were 10,000 government jobs lost, a decrease of 5,600 construction jobs, and professions in the financial sector were down by 1,300. While Indiana’s unemployment rate came in at 12th across the nation in May, in a four-way tie with Minnesota, North Dakota, and Oklahoma, when compared to all Midwest states, it ranked 6th lowest unemployment, along with North Dakota and Minnesota.
Speak to an Indiana Bankruptcy Attorney Today
bankThe unemployment rate in Indiana when compared to the rest of the nation looks like it is in good shape. Yet still, many people who suffered the most severe financial setbacks during the pandemic are still struggling to recover. If you accrued more debt than you can pay down, it is possible that bankruptcy could be the way that you can come out from under it. Christopher L. Arrington is a Danville bankruptcy lawyer who can work with you to see what your best options are for alleviating your debt. If bankruptcy makes sense, Christopher L. Arrington can guide you through the process. To schedule a free consultation with Christopher L. Arrington, a skilled Indiana bankruptcy attorney, please call (317) 745-4494.