INDIANAPOLIS — Indiana experienced among the lowest unemployment rates in the country during May, according to a new report.
On Friday, the President’s Council of Economic Advisors released a report on state unemployment during May. The report showed relatively widespread declines in the unemployment rate.
The report shows that 15 states, including Indiana, are at record-low unemployment rates. Indiana’s unemployment rate fell from 4.5% in January to 2.2% in April. This is equal to the lowest unemployment rate for the state on record.
Only two states have an unemployment rate lower than Indiana. Utah experienced a 2% unemployment rate in May while Nebraska experienced a 1.9% unemployment rate.
May also brought new lows for Alabama, Alaska, Georgia, Idaho, Kansas, Kentucky, Minnesota, Mississippi, and West Virginia. The White House credits the American Rescue Plan for the near-historic lows.
In Indiana, the labor force participation rose again. In May, 62.9% of the labor force was employed or seeking a job, up from 62.6% in April. This is higher than the national participation rate of 62.3%.
“While the number of people working in the private sector is at a new high, there remain numerous available job opportunities throughout Indiana,” said DWD Commissioner Fred Payne. “More and more Hoosiers have spent the last several months reassessing their career and career goals, and the May employment report shows individuals continue to return to the workplace.”
Industries that experienced job increases in May include manufacturing, professional and business services, and leisure and hospitality. There were 159,763 open job postings throughout the state as of June 1.