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Indiana's outlook shows promise.

Indiana's Outlook Shows Promise

With recession still evident, Indiana's economy shows some encouraging signs.

The state's unemployment rate - before adjusting for seasonal variations - dropped 7.3 percent to 5.9 percent in April. The difference is greater than the typical seasonal fall in unemployment; after seasonal adjustment, the jobless rate still dropped 0.2 percent from the March figure.

Seven of the state's major employment centers participates in the April downtrend in unemployment. Anderson's adjusted rate dropped more than a full percentage point, as did Muncie's. Bloomington and Lafayette both reported jobless rates well below the state average, and the Hendricks County rate of 2.3 percent was even lower.

Indiana's May unemployment figures are not yet out, but there is strong reason to believe the state won't mirror the significant rise in unemployment that the national rate for May documented. That's because the state's average manufacturing workweek was significantly higher than the national average in April. Six of the state's 13 metropolitan areas reported at least a 41.7-hour workweek in April.

Were this overtime scheduling to persist as the recession winds down, the Indiana economy likely will parallel, if not surpass, the nation's economic performance in the recovery period.

PHOTO : UNEMPLOYMENT RATE

PHOTO : INDIANA RETAIL SALES

PHOTO : HOURS WORKED
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Title Annotation:economy of Indiana shows encouraging signs
Publication:Indiana Business Magazine
Date:Jul 1, 1991
Words:211
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