Indiana’s unemployment rate for October is nearly a point higher compared to the same time last year. New preliminary data shows the rate continues to rise above the national average.
In October 2023, Indiana’s unemployment rate stood at 3.6 percent. Over the past year it grew to the current rate of 4.4 percent. Some of these preliminary estimates are seasonally adjusted months — or sometimes years — after initial release. These adjustments can help us understand fluctuations in the job market.
READ MORE: Indiana's labor force participation rate increases for the third month in a row
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Total private employment in Indiana continues to grow, but so does the number of continued unemployment insurance claims.
For the week ending Oct. 26, 2024, more than 20,800 continued claims were filed — an increase of more than 400 from the previous month. In order to be considered unemployed, an individual must be at least 16 years old and actively searching for work.
Timoria is our labor and employment reporter. Contact her at tcunningham@wfyi.org.