The journey is just beginning after graduation, for Indiana job seekers and employers alike. 

With one of the largest graduating classes ever in ‘23, Indiana’s brand new talent pool is attractive to prospective employers.

“Talent is the new currency of regional economic prosperity. A region becomes more competitive if it can more precisely predict workforce needs and more proactively develop the talent that employers will hire,” according to a recent article in Indiana Business Review written by Philip T. Powell, Ph.D., Clinical Associate Professor of Business Economics, and Riley Zipper, Data Analyst, Indiana Business Research Center, Indiana University Kelley School of Business.

 

Indiana has a firm grasp on the economic forecast for the state, as well as a deep understanding of its educational institutions, employment opportunities, economic well-being, and industry strengths. The state works closely with all of its colleges and universities to not only attract quality talent but encourage them to remain in the state once graduated and then employed. There are often many state-funded incentives for new hires to remain in their home state.

The IEDC has helped the state develop its well-executed plan for talent attraction and retention, effectively connecting economic development and tourism marketing. The IEDC has successfully launched and funded various kinds of programming to provide local investors, business leaders and rising companies with available talent – all with the common goal of expanding and growing these Indiana companies.

According to the Indiana Department of Workforce Development, Indiana’s unemployment rate in May 2023 stands at 3.1%, according to the Indiana Department of Workforce Development. By comparison, the national unemployment rate for May stands at 3.7%. Private sector employment in Indiana resulted in a gain of 66,500 jobs from this time last year. 

Industries that experienced job increases in May included: Professional and Business Services (+2,100); Private Educational and Health Services (+1,100); and Financial Activities (+300) (in.gov/dwd).

And here’s more good news for recent Indiana graduates – as of June 1, 2023, there were 124,313 open job postings throughout the state.