Indiana unemployment rate falling fast, but job openings are still rising
Indiana’s unemployment rate for October fell to just 3 percent in November, the lowest it’s been in more than two decades. Another record level was set which complicates that rosy picture: job openings are at an all-time high.
Here's the good news: The Bureau of Labor Statistics estimates there was an overall increase in employment with most of the job gains in manufacturing or leisure and hospitality. The Indiana Department of Workforce Development is touting the rate as a sign of strengthening economic recovery.
Now not-so-good news: The same data shows the overall number of Hoosiers working or looking for work is continuing a downward slide. In November, the labor force dipped to lows not seen since last summer.
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Meanwhile another survey released Friday from the BLS indicates there are more than 240,000 job openings in the state.
It all adds up to a labor market that may be continuing to tighten and will leave employers desperate for workers.