October 1998
Indiana's Unemployment Rate Remains Low
Indiana's non-seasonally adjusted unemployment rate in July was 2.7 percent, two percentage points below the national rate of 4.7 percent, Craig E. Hartzer, Commissioner for the Indiana Department of Workforce Development, announced. In July 1998, 3,045,500 Hoosiers were employed. This represents a gain of 5,600 working Hoosiers from the same month in 1997.
Indiana's unemployment rate remained lower than unemployment rates in surrounding states in July. The other states' rates were: Illinois, 4.4 percent; Ohio, 4.6 percent; Michigan, 4.8 percent; and Kentucky, 4.2 percent.
"The success of our efforts in building a strong economy with a skilled workforce is reflected in the continued record low unemployment rate for the State," said Hartzer.
In July 1998, Indiana's monthly survey of 7,500 Hoosier employers reported payroll employment at 2,840,500, an increase of 6,800 from one year ago. Payroll employment is an estimate of non-agricultural jobs in Indiana businesses. It differs from force employment which is used in the calculation of the unemployment rate by not including the self-employed and agricultural workers. In addition, payroll employment includes all those who work in Indiana, while the unemployment rate is calculated by those who live in Indiana.
Manufacturing employment totaled 666,800 in July, a decrease of 20,000 from June. Motor vehicle manufacturing accounted for 83,700 jobs in July 7,000 less than one year ago. Manufacturing of motor vehicle parts totaled 59,300. Industrial machinery manufacturing in July accounted for 77,200 Hoosier jobs, 1,000 more than in July 1997.
Construction employment in July totaled 150,500, an increase of 2,900 from last month. Of that, heavy construction reported 19,000 jobs in July, an increase of 300 from June 1998.
Service producing employment totaled 2,016,700 in july, 17,500 more than one year ago. Transportation and public utilities totaled 140,900, an increase of 900 from July 1997.
Retail trade totaled 542,000 in July, 2,000 less than last month. Employment increased by 1,300 from July of 1997 to 77,200 in July 1998 fro general merchandise stores. Service sector employment, such as business services, computer and data processing, totaled 692,700 in July, which is 12,400 more than the previous year.
Indiana's estimated labor force (the number of people 16 years of age and older who are able and available for work) totaled 3,129,100 in July 1998. There were an estimated 3,045,500 Hoosiers employed during the month. The number of people in Indiana reported as unemployed in July totaled 83,600.
Indiana's labor force in July 1997 totaled 3,153,200. The number of Hoosiers employed one year ago was estimated at 3,039,900, and July 1997 unemployment in Indiana was 113,300. Indiana's estimated unemployment rate one year ago was 3.6 percent, compared with July 1997 national unemployment rate of 5.0 percent.
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