News release from the Indiana Economic Development Corporation:
Hoosier Job, Wage Growth Continues
INDIANAPOLIS (May 20, 2016) – Indiana added 12,000 Hoosier jobs last month, marking the 10th consecutive month with Indiana’s total employment above the state’s previous peak employment record from March 2000.
“From day one of this administration, the goal has been to reach record level employment in Indiana, ensuring that more Hoosiers are employed than ever before in Indiana’s 200-year history,” said Victor Smith, Indiana Secretary of Commerce. “Not only did we achieve that goal last summer, but we continue to surpass it. As a state, we have worked tirelessly to create a business-friendly climate by cutting costs and taxes while investing in workforce development and talent attraction. With more than 152,000 jobs added in the last three years, I am proud to say that Indiana is a state that works.”
According to the April Bureau of Labor Statistics report released today by the Indiana Department of Workforce Development, private employment in Indiana has grown by 152,100 jobs since January 2013 while the state’s unemployment has dropped from 8.5 percent to now 5.2 percent. After reaching a 14-year record low unemployment rate of 4.4 percent in December 2015, more than 107,000 Hoosiers have joined the state’s labor force in 2016, accounting for the 0.8 percent increase in unemployment.
“Indiana has established itself as the best state in the Midwest for business, attracting new companies and new jobs from around the world,” said Smith. “Now, we must find ways to fill the jobs we continue to create. That’s why the state is investing in education, workforce development and vocational training. And that’s why Governor Pence established the Indiana Regional Cities Initiative, sparking quality of place initiatives in order to retain and attract top talent to the state for generations to come.”
Already this year, companies have committed to investing more than $1.64 billion in their Indiana operations and creating 7,712 new jobs in the coming years. Of these, the average hourly wage is $27.54 (or $57,096 annually), which is more than 27 percent higher than the state’s average wage.
The Indiana Economic Development Corporation (IEDC) leads the state of Indiana’s economic development efforts, focusing on helping companies grow in and locate to the state. Governed by a 12-member board chaired by Governor Mike Pence, the IEDC manages many initiatives, including performance-based tax credits, workforce training grants, public infrastructure assistance, and talent attraction and retention efforts. For more information about the IEDC, visit www.iedc.in.gov.