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Business and Economics

State’s Unemployment Rate Holds Steady At 5.7%

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November 24, 2014 — TheStatehouseFile.com

INDIANAPOLIS – The state’s unemployment rate held steady at 5.7 percent for the month of October.

The private sector added 2,500 manufacturing jobs during the month – ranking Indiana third in the nation for manufacturing job growth.

Similarly, the transportation and utility trades added 3,300 jobs in October – placing the state 10th in the nation for that sector.

The professional and business services sector saw a decrease of 2,200 jobs for the month, while available construction jobs decreased by 900.

Indiana House Minority Leader Scott Pelath, D-Michigan City, said the state’s job growth isn’t necessarily benefiting the middle class.

“We may continue to keep our unemployment rate at 5.7 percent, and yes, our leaders may continue to roll out figure after figure from business types that tell us we have a wonderful business climate,” Pelath said. “But there are numbers out there that should give all of us continued call for concern.”

In his response to the unemployment numbers, Pelath cited the current State Policy Report – published by the Federal Funds Information for States

– which ranks Indiana dead last in personal income growth from spring 2013 to spring 2014.

Pelath argued that while the state may be gaining jobs, they don’t offer high enough wages.

“We continue to create jobs that don’t pay well, which tends to defeat the idea that we have a growing economy,” he said. “A rising economic tide that lifts only a few and submerges the rest isn’t something to be bragging about. It’s something to stop.”

 

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