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Growth coming to a halt?

Growth Coming to a Halt?

Adjusting business data to remove the "statistical noise" or erratic seasonal fluctuations can have its benefits. "Smoothing" Indiana and local-area employment and unemployment data for the first four months of 1990 shows that the significant growth in the state's employment of the past three years has come to a halt and unemployment has increased substantially.

Indiana's total employment in April, after seasonal adjustment, reflected a decrease of 0.4 percent. The usual April increases, which did occur, were much less than seasonally expected. All the state's metropolitan statistical areas, except Bloomington and Terre Haute, reflected decreases in total employment in April after seasonal adjustment.

The seasonally adjusted unemployment rate for Indiana reflected a decrease for the second successive month. Every MSA in the state, except South Bend, reflected increases in its April adjusted unemployment rates. A high of 6.8 percent was shown for the Gary/Hammond area, and a low of 3.3 percent at Lafayette.

The evidence provided, especially by the statistically smoothed state and local data, reveals that the pace of economic growth in the Indiana economy has slowed and perhaps has come to a halt, at least temporarily.
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Title Annotation:Indiana Indicators
Publication:Indiana Business Magazine
Date:Jul 1, 1990
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