Overall unemployment rate moved up to 3.1% with the biggest shift in Transportation & Utilities, which lost 1,600 roles, based on the most recently available information published in April 2023.

Total employment in the Indianapolis-Carmel-Anderson, IN market declined by 2,607 jobs in February and the unemployment rate increased compared to the prior month by 30 bps to 3.1%. The national unemployment rate increased by 3 bps over the same time to 3.9%.

  • Indianapolis-Carmel-Anderson, IN unemployment rate is 79 bps below the national rate which is a positive sign.
  • Unemployment in the market is 60 bps above the unemployment rate in the market last year at this time, which is a negative.
  • Average wages (per hour) grew in February versus prior month by 0.4% and are equal compared to last year at this time in the market.
Month over Month Unemployment Change
Year over Year Unemployment Change
Indianapolis-Carmel-Anderson, IN Unemployment February 2023

For key employment segments of the market, total jobs grew by 0.4% . Key sectors include:

  • Transportation & Utilities: 246,100; -1,600
  • Business Services: 191,100; +1,200
  • Education & Healthcare: 173,400; +1,000
  • Government: 140,000; +900
  • Restaurants & Hotels: 103,400; +600
  • Manufacturing: 96,100; +1,000
  • Financial Services: 75,700; +200
  • Construction, Mining: 60,200; +200
  • Other Jobs: 45,200; +500
  • IT & Development: 12,100; no change
Indianapolis-Carmel-Anderson, IN Unemployment by Industry February 2023

Data is based on the most recent 12 months available, through February 2023 (Data published April 2023 and reports created on April 10, 2023).  Source: Government data agency and locally acquired statistics.

Note: All reported data is not seasonally adjusted.