Jobless claims in Indiana continued to be filed at historically high rates last week despite posting the lowest weekly total since mid-March.
A total of 23,591 Indiana workers filed for unemployment benefits last week, continuing a downward trend since 139,174 workers filed for jobless aid the week ending March 28, according to the Indiana Department of Workforce Development.
In Bartholomew County, 241 workers filed for unemployment benefits last week, also the lowest total since the coronavirus pandemic swept the state, forcing businesses to shutter and lay off workers. A total of 10,112 initial unemployment claims have been filed in the county since March 15, according to state figures.
“We continue to see a decline in initial claims filed in Indiana,” said Fred Payne, commissioner for the Indiana Department of Workforce Development. “…Since March, our unemployment insurance program has paid out approximately $2.3 billion. That number includes about $613 million in state funds and about $1.6 billion in federal funds.”
The latest unemployment figures came as the U.S. Department of Labor reported an unexpected drop in U.S. unemployment last month as reopened businesses began recalling millions of workers faster than economists had predicted, according to the The Associated Press.
In May, U.S. unemployment dropped from 14.7% to 13.3%, which is still on par with what the nation witnessed during the Great Depression, according to wire reports.
Solid employment gains will probably continue through the end of the year, economists expect, but the job market is in such a deep hole that it could take years to dig out.
The U.S. economy still has 20 million fewer jobs than it did in February. Oxford Economics, a consulting firm, forecasts that 60% of jobs could be regained by the end of this year, leaving unemployment in the 8%-to-10% range.
In April, unemployment in Bartholomew County surged to 18.4%, compared to 2% in April 2019, according to state figures. By comparison, the state unemployment rate last month was 16.9%.
