Overall unemployment rate moved up to 2.8% with the biggest shift in Transportation & Utilities, which lost 8,800 roles, based on the most recently available information published in March 2023.
Total employment in the Indianapolis-Carmel-Anderson, IN market declined by 66 jobs in January and the unemployment rate increased compared to the prior month by 60 bps to 2.8%. The national unemployment rate increased by 60 bps over the same time to 3.9%.
- Indianapolis-Carmel-Anderson, IN unemployment rate is 106 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) declined in January versus prior month by -1.8% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -1.7%. Key sectors include:
- Transportation & Utilities: 247,300; -8,800
- Business Services: 189,000; -3,800
- Education & Healthcare: 172,900; -100
- Government: 139,100; -900
- Restaurants & Hotels: 103,000; -1,500
- Manufacturing: 94,800; -1,300
- Financial Services: 75,400; -1,400
- Construction, Mining: 59,700; -1,400
- Other Jobs: 44,700; -500
- IT & Development: 12,300; -300
Data is based on the most recent 12 months available, through January 2023 (Data published March 2023 and reports created on March 17, 2023). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.