August Unemployment Rate 4.2%
September 22, 2016
The Indiana Department of Workforce Development
and the U.S. Bureau of Labor Statistics
(BLS) recently released the August Unemployment Report. According to the data, the unemployment rate for Huntington County workers stands at 4.2% up slightly from July's 3.9%. There are 756 more people in the total labor force compared to one year ago and 672 more people employed compared to the same time last year. The comparable U.S. National Unemployment rate stands at 4.9%.
The BLS reports the U-1 Measure of persons unemployed 15 weeks or longer as a percentage of the civilian labor force is 1.9%. Also, the BLS released information regarding the national unemployment rates based on educational achievement. The national unemployment rate among civilian individuals having less than a high school diploma stands at 7.2% while the comparable rate for high school graduates is 5.1%. The rates become even more encouraging as educational attainment increases. The national unemployment rate for high school graduates with some college courses, vocational training or associate degrees, according to the BLS is 4.3%. The rate for those with at least a Bachelor's degree is 2.7%.
"Clearly, the BLS statistics confirm why the "Big Goal Collaborative Initiative
" of the Northeast Indiana Regional Partnership is vital to our region," said Mark Wickersham, executive director of the Huntington County Economic Development Corporation. "I believe solving the educational attainment question could also positively impact the ALICE statistics
recently released by the United Way of Indiana," Wickersham added. "The foundation of our economic and political systems, as well as our future economic and political freedom, depend heavily upon opportunities for educational attainment, and employment and career opportunities. I hope I'm simply saying the obvious. History has confirmed it's our best hope for wealth creation," he noted.
"The Huntington County Economic Development Corporation is committed to doing all we can to help our County be an even better place to live and work. While the current unemployment rate demonstrates a very strong jobs outlook, we have to continue to work hard to preserve and enhance our economic base," he concluded.