October employment picture remains strong
November 24, 2014
The Indiana Department of Workforce Development has released the October 2014 Unemployment Report. The rate for Huntington County stands at 4.9%, slightly higher than the 4.6% reported in September.
"It is encouraging anytime 95% of the local labor force is employed, however, as long as we fall short of full employment, it's clear there's more to be done," said Mark Wickersham, executive director of Huntington County Economic Development. "The October 2014 rate is significantly improved from one year ago when it stood at 6.3%," he added.
In a related story, the IPFW Community Research Institute (CRI) announced that per capita personal income (PCI) also increased in Huntington County by 1.3% compared to one year ago. "Even with the encouraging jobs and PCI data, northeast Indiana is now at 80.3% of the national PCI, down slightly from 80.8% one year ago," said Wickersham. According to the CRI report, the decrease may be linked to the loss of high-wage defense industry jobs as a result of the federal budget sequestration.
"Overall, I'm very encouraged knowing that almost all of our formerly vacant industrial space has now been redeveloped in Huntington County and the unemployment rate is well below the 25-year annual average of 5.8%. Generally, Huntington County has a lot to be thankful for this Thanksgiving," Wickersham concluded.