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Recession finally hits home.

Indiana's auto and auto-parts manufacturing centers of Anderson, Fort Wayne and Muncie began to feel the brunt of the 9-month-old recession in March. Elkhart and Kokomo had felt recessionary effects since the beginning of the year, but the full intensity of the nationwide recession had yet to be reflected by key indicators in the state's other major employment centers.

Though Indiana's total employment rose slightly in March, after adjusting for seasonal variations the employment figure actually declined 0.3 percent. All areas of the state except Lafayette contributed to the decline. But in spite of the increased unemployment rates in some of Indiana's major auto-manufacturing hubs, March's statewide jobless rate was unchanged and remained below the national average.

There was other more encouraging news. The latest available data on state personal income and retail trade reflected continued strength compared with the year-ago levels. And the rising number of housing permits issued in the state shows that the housing industry is beginning to regain strength.
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Title Annotation:Indiana
Publication:Indiana Business Magazine
Date:Jun 1, 1991
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