Indiana’s unemployment rate went down last month, reaching its lowest level in more than 15 years.
The Indiana unemployment rate declined in November to 4.2 percent. That’s the lowest it’s been since July of 2001.
The private sector added more than 13,000 jobs, the largest one-month boost since April. And nearly every employment sector surged – only the construction industry lost jobs last month.
There is one employment factor that continues to perform poorly, though: the state’s total labor force.
The labor force measures people who either have a job or are actively looking for one. Growth is often viewed as a sign of optimism in the economy.
After increasing every month for more than four years, Indiana’s labor force began declining this fall, and it went down in November for the third consecutive month.