August Unemployment Report Strong
September 25, 2018
The Indiana Department of Workforce Development in cooperation with the U.S. Bureau of Labor Statistics has released the August 2018 Unemployment Report. The rate reported for Huntington County is 3.8%. The rate for the State of Indiana was reported at 3.7%. The Huntington County rates is slightly higher than July's 3.7%. There were no WARN notices from Huntington County employers.
According to researchers at "The Balance.com"
the United States has never experienced zero percent unemployment. They document the record low national unemployment rate at 2.5% in May and June of 1953. Economists at the U.S. Federal Reserve
have more recently focused attention on the "natural rate of unemployment," meaning the rate of unemployment arising from all sources EXCEPT fluctuations in job demand. The Federal Reserve reports the "natural rate of unemployment" to hover between 4.5% and 5.5% over a period of decades.
"The practical understanding of the research and statistics, confirms what employers have been telling us for a long time - they have jobs available and are having difficulty finding people to hire," said Mark Wickersham, executive director of Huntington County Economic Development. "We also understand how difficult life can be for those who are unemployed, thus our continued efforts to promote opportunity for job creation and new capital investments," he added. "It's also important to appreciate how employer hiring decisions throughout the northeast Indiana region can impact residents of Counties beyond the location of the business itself," said Wickersham. He noted that nearly 4,600 Huntington County residents commute to other Counties on a daily basis, while over 2,300 commute into the County every day.
Click here to read the Unemployment Report.