Overall unemployment rate moved up to 3.5% with the biggest shift in Government, which lost 1,900 roles, based on the most recently available information published in August 2022.
Total employment in the Lafayette-West Lafayette, IN market declined by 127 jobs in July and the unemployment rate increased compared to the prior month by 30 bps to 3.5%. The national unemployment rate decreased by 5 bps over the same time to 3.8%.
- Lafayette-West Lafayette, IN unemployment rate is 28 bps below the national rate which is a positive sign.
- Unemployment in the market is 10 bps above the unemployment rate in the market last year at this time, which is a negative.
- Average wages (per hour) grew in July versus prior month by 3.6% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -1.4%. Key sectors include:
- Government: 20,800; -1,900
- Manufacturing: 19,800; +100
- Transportation & Utilities: 14,700; +300
- Education & Healthcare: 13,500; no change
- Restaurants & Hotels: 10,700; no change
- Business Services: 8,200; no change
- Construction, Mining: 4,200; no change
- Other Jobs: 4,200; +100
- Financial Services: 3,300; no change
- IT & Development: 600; no change
Data is based on the most recent 12 months available, through July 2022 (Data published August 2022 and reports created on September 2, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.