Indiana’s unemployment rate increased slightly to 3 percent in October, according to new Bureau of Labor Statistics estimates. It’s the first month to hit the 3 percent threshold since September 2021. However, the rate is still low compared to the nation and Indiana's historic rates.
The federal government reported that the inflation rate for housing spiked to its highest rate since 1982 from September 2021-22. The U.S. Bureau of Labor Statistics says the inflation rate for the broad category of “shelter” is now 6.6%. Experts say that’s reflected in Michigan's major housing markets.