Indiana’s unemployment rate dropped to 2.3% in February from 2.4% in January—continuing a favorable streak that began in May 2020 in which the unemployment rate each month since has either fallen or remained stable, according to the Indiana Department of Workforce Development (DWD). The national unemployment rate, by comparison, decreased to 3.8% in February from 4.0% in January.
Marshall County’s February Unemployment rate was 2.1% compared to the January rate of 1.9% and the December 2021 rate of .9%. February’s rate places the county at 72 of the 93 counties. Looking over the last few years the February Unemployment rates have been 3.95 in 2021, 2.7% in 2020, 4.0% in 2019 and 3.5% in 2018.
Looking at the counties surrounding Marshall you will find LaPorte County at number 3 on the list of counties with a rate of 3.7 immediately followed by Starke County who has a rate of 3.6. Saint Joseph County is 23rd on the list with a rate of 2.9 and Fulton County is right behind at 25th with a rate of 2.8. Pulaski County has an unemployment rate of 2.55 ranking them 42nd. Kosciusko County has the same rate as Marshall County 2.1. We are ranked 72nd and K-County is ranked 71st. Rounding out the list of counties is Elkhart County, number 90th on the list with an unemployment rate of 1.7. The lowest unemployment rate is LaGrange County with a 1.6 and ranked 92nd while the highest unemployment rate is 5.0 for Lake County ranked number one.
In addition, Indiana’s labor force participation rate rose from 61.9% in January to 62.1% in February, falling just below the national rate of 62.3%. Indiana’s total labor force, which includes both Hoosiers employed and those seeking employment, stands at 3,315,890.
“This is positive news for the State of Indiana,” DWD Commissioner Fred Payne said. “Unemployment fell again while private employment and labor force participation numbers both increased—a winning combination. Now we need to sustain that success long-term.”
Private sector employment in Indiana increased by 10,800 jobs over the last month, resulting in a gain of 101,500 jobs from this time last year. Total private employment now stands at 2,743,800—a new preliminary peak for the state. The monthly increase in jobs primarily can be attributed to:
• Professional & Business Services (+5,400)
• Trade, Transportation & Utilities (+2,900)
• Financial Activities (+1,500)
• Construction (+1,200)
Currently, there are 152,390 open job postings throughout the state. The number of people in Indiana that received unemployment benefits during February was 22,901.
“With so many opportunities available, it’s a great time for those seeking to return to the workforce, or those who are already employed and desire a change, to find stable work and good wages and learn new skills,” Payne continued.