(INDIANAPOLIS) – Indiana's jobless rate dropped from January to February, according to statistics from the State's Department of Workforce Development.

February's jobless rate stands at an even 4 percent, down from 4.2 percent in January. The State's labor force had a net decrease of 4,971 over the previous month. This was a result of a decrease of 7,402 unemployed residents and an increase of 2,431 employed residents.

Indiana's total labor force, which includes both Hoosiers employed and those seeking employment, stands at 3.34 million, and the State’s 63.2 percent labor force participation rate remains above the national rate of 61.4 percent.

Private sector employment has decreased by 6,600 over the previous month and 113,400 over the year. The monthly decrease is primarily due to losses in the Trade, Transportation and Utilities (-5,500) and the Financial Activities (-900) sectors. Losses were offset by gains in the Manufacturing (2,500) and the Leisure and Hospitality (1,500) sectors. Total private employment stands at 2,622,000, which is 118,500 below the new December 2019 peak.

February unemployment rates of Indiana counties and cities will be released Monday afternoon.