Business briefs – Aug. 25

Unemployment lower than national

HANCOCK COUNTY — The unemployment rate in Hancock County in June was 2.7 percent, according to the United States Department of Labor’s Bureau of Labor Statistics.

The unemployment rate is a U.S. Bureau of Labor Statistics indicator that reflects the number of unemployed people as a percentage of the labor force, according to a press release. Indiana’s unemployment rate stands at 3.1 percent for July and remains lower than the national rate of 4.3 percent, according to a report from the Indiana Department of Workforce Development.

The unemployment rate is a U.S. Bureau of Labor Statistics indicator that reflects the number of unemployed people as a percentage of the labor force. Indiana’s labor force decreased by 1,077 over the previous month due to a 4,008 decrease in employment and a 2,931 increase in unemployment. Indiana’s total labor force continues to stand at more than 3.33 million, and the state’s 64.3 percent labor force participation rate remains above the national rate of 62.9 percent.

“Indiana’s unemployment rate continues to be both at near-record lows and well below the national numbers,” said Steven J. Braun, Commissioner of the Indiana DWD.

Despite a slight increase over the past month, the unemployment rate is a reflection of the state’s constricting labor market, according to Braun. The long-term challenge of developing the state’s workforce to meet employer demand of more than one million jobs over the next 10 years remains DWD’s top priority, he added.

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