Indiana's unemployment rate drops to 5-year low

Indiana's unemployment rate drops to 7.5 percent, lowest mark for state since late 2008

Associated Press

INDIANAPOLIS (AP) -- Indiana's unemployment rate dropped to 7.5 percent for October, marking its lowest level since late 2008 as the recession deepened.

Figures released Friday by the state Department of Workforce Development show Indiana's jobless rate fell three-tenths of a percentage point for last month. It is now nearly a point lower than the 8.4 percent rate Indiana had in June and July.

Indiana's jobless rate is slightly higher than the national rate of 7.3 percent. The new report shows nearly 223,000 people were looking for jobs last month in Indiana.

Gov. Mike Pence said in a statement that the employment report showed a good trend for the state.

"Despite today's encouraging news, there are still far too many Hoosiers struggling in this economy, and we cannot afford to let up in our effort to make Indiana even more attractive for investment and jobs," Pence said.

Indiana's unemployment rate peaked at 10.8 percent in mid-2009, with nearly 350,000 people then looking for jobs. Indiana joblessness declined below 9 percent in late 2010, but had stubbornly not fallen much more until the last few months.

The largest employment gains for Indiana during October came in the manufacturing, construction and private educational and health services sectors, according to the state report.

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