LOUISVILLE —
The Louisville Metropolitan Statistical Area unemployment rate dipped from 12.2 percent in February to 10.7 percent in March, according to a Bureau of Labor Statistics report released Wednesday.
While 321 of the 372 metropolitan areas in the country surveyed had higher jobless rates than the year prior, the number of unemployed dropped by 9,000 in Louisville Metro from February to March.
Louisville Metro — which includes Floyd and Clark counties — also saw its labor force decrease by 3,000. Still, the significant decline in the unemployment rate should be viewed favorably said Uric Dufrene, Sanders Chair of the Indiana University Southeast business department.
Louisville Metro resumed a deceleration in year-to-year job losses in March.
“Last month, job losses had surprisingly increased, but March saw a return to the trend of shrinking year-over-year job losses,” Dufrene said.
The professional and business services sector has incurred three consecutive year-to-year monthly increases in Louisville Metro, which is an early sign of an overall recovery in terms of overall job losses, Dufrene said.
“As this sector continues to increase, Louisville year-over-year losses will get smaller and smaller,” he said.
The report features nonseasonal data, which makes it hard to determine if the 3,000-position drop in Louisville Metro’s work force is because of seasonal variations, Dufrene said.
“Some of the decline may be due to discouraged workers as well, but the trend has been an expanding labor force,” he said.
“But given the larger decline in unemployment versus labor force, this implies that more people are returning to work.”
The highest unemployment rate among the 372 metros was El Centro, Calif., which recorded a 27 percent jobless mark in March. The national unemployment rate was 10.2 percent last month.
In March 2009, Louisville Metro’s jobless mark was 10.5 percent.
Indiana’s unemployment rate climbed slightly to 9.9 percent.
“Ten percent of all jobs added in the U.S. in March were located in Indiana, but more Hoosiers returned to the work force last month, impacting the rate,” said Teresa Voors, commissioner of the Indiana Department of Workforce Development.
Preliminary state data placed Clark County’s jobless rate at 9.3 percent, and Floyd’s at 8.8 percent. Floyd’s unemployment rate was tied for the 13th lowest in Indiana.
*********8
So you know
• The March Louisville Metropolitan Statistical Area unemployment rate of 10.7 percent is slightly higher than its 10.5 percent jobless mark in March 2009.
Recent Local News
Louisville Metro area’s jobless rate drops significantly
Clark, Floyd counties’ unemployment rate lower than Indiana’s average
- Recent Local News
-
-
SWEET TREAT: Volunteers see the attraction of annual Starlight Strawberry Festival
-
Board chair: Parks district best solution for New Albany and Floyd County
Mayor Jeff Gahan’s veto of a new parks deal between the city and county was upheld earlier this month by the New Albany City Council. While the Floyd County Council agreed to still pay an additional $100,000 toward the parks department for the remainder of the year, the city and county remain under a prior agreement that led to funding discrepancies in the past.
-
THE 'V' WORD: SUB: Prosser Career Education Center moves away from stigma of ‘vocational’ school
- TARC sets Memorial Day and Kennedy Bridge route changes
- Indiana man releases hostages, fatally shoots self
-
Vietnam veteran receives medals 46 years after active duty ends
- More travelers to hit the road this Memorial Day weekend
-
Pence talks bridges, jobs during Southern Indiana swing
“I think everyone senses with the recent bridges agreement, the potential for extraordinary growth,” said Mike Pence, a U.S. House member who is seeking to replace Gov. Mitch Daniels and retain the gubernatorial seat for the Republican Party.
- Police: Gunman has hostages in Indiana realty office
-
Delaware woman dies in I-65 crash
-
Collingsworth Family to perform at Silver Heights Retreat Center in New Albany
The Collingsworth Family will be making a return trip to the Silver Heights Retreat and Camp Center in New Albany on Thursday, June 7.
-
Clark County approves self-insurance plan
Clark County Insurance Agent-of-Record Diane Swank presented health insurance renewal options at the council meeting Monday, but the county’s fiscal body decided to recess its meeting in order to review a proposal to move the county to a self-insured plan.
-
New theater directors at NAHS and FCHS ready for their programs
As the curtain falls on the careers of the teachers who put the theater programs of Floyd Central and New Albany high schools on the map, the new blood coming in have big hopes for the programs they’re taking over.
-
Jeff to start enforcing insurance ordinances
A 2004 ordinance that dictates how much city retirees pay for health insurance – ignored for years by Jeffersonville officials – looks like it will now be enforced.
-
Top Gun showing Saturday at the New Albany riverfront
In honor of Memorial Day, the city of New Albany will show the movie “Top Gun” on its new 40-foot screen at the Riverfront Amphitheater Saturday.
- More Recent Local News Headlines
-
