Why the recovery seems so lackluster

July 14, 2010
Back to TopCommentsE-mailPrintBookmark and Share

If the recovery from the recession seems anemic, a new analysis from the Federal Reserve Bank of Chicago explains why.

The recession was so deep and lasted so long that it’s taking seemingly forever for jobs to come back. The pace of job recovery is on a similar trajectory to recent recessions, but the hole is really deep.

Temporary employment is way up across the fed district that includes all or parts of Illinois, Indiana, Iowa, Michigan and Wisconsin. But construction, both commercial and residential, is still on its back. Banking jobs are doing poorly, as are jobs in hospitality sectors. State and local government employment is down, contrary to prior recessions.

Indiana comes out looking pretty good. In the year ended in May, Indiana is the only state in the fed district where job numbers increased—by 24,100. Indiana was one of two states to see some recovery in manufacturing employment. Indiana also had a surge in temp jobs and some increase in hospitality positions.

What are your thoughts?

  • Opportunities & Solutions Being Missed???
    My thoughts are the State of Indiana needs to focus on the missing piece of their puzzle, Economics of: Comprehensive Economic and Community Development, creating places where people, the human capital that they want to attract and stay, want to be. By Cleaning up the Center of the Communities and corridors with form based zoning code, and following through with form based financing to get it done, spending the little dollars that our Cities and State have, were they will get the long term sustainable solutions, ROI Return on Investment, while reducing compounding over spending, by the overbuilding of more out farther and farther outgrowth. this over building of the road system and financing of many intensive for out growth create more area for more government, to spend more. We need Leaders in this State that get Reducing Government Spending is Smart Growth, Form Based Financing!
  • You are right and wrong
    I believe after traveling the US the last two years and visiting many peer companies tht Indiana is fairing quite well in fact do not read the paper or watch TV you would not know we are in a recession. WE do neet to revitalize our core areas of our Metropolis, but at the same time utilize the assets that we have, highways that connect companies whether they are Walmart, Bioscience, Healthcare keep naming the non manufacturing we do in this area of Central Indiana. Not all ideas are home runs not all business is successful, but we have more here than most and our conservative thinking has helped the bottom line. But I do agree that we need to always think outside the box and that is what is missing and you have brought out just one component of a diversity that we need in our area.
  • Smart Growth
    Very well spoken. In-filling development will reduce driving time and CO2 levels. New approaches to making cities not only more liveable, but if possible, delightful, if you will, should be a top priority of city leaders.

Post a comment to this blog

We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
You are legally responsible for what you post and your anonymity is not guaranteed.
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by
  1. Of what value is selling alcoholic beverages to State Fair patrons when there are many families with children attending. Is this the message we want to give children attending and participating in the Fair, another venue with alooholic consumption onsite. Is this to promote beer and wine production in the state which are great for the breweries and wineries, but where does this end up 10-15 years from now, lots more drinkers for the alcoholic contents. If these drinks are so important, why not remove the alcohol content and the flavor and drink itself similar to soft drinks would be the novelty, not the alcoholic content and its affects on the drinker. There is no social or material benefit from drinking alcoholic beverages, mostly people want to get slightly or highly drunk.

  2. I did;nt know anyone in Indiana could count- WHY did they NOT SAY just HOW this would be enforced? Because it WON;T! NOW- with that said- BIG BROTHER is ALIVE in this Article-why take any comment if it won't appease YOU PEOPLE- that's NOT American- with EVERYTHING you indicated is NOT said-I can see WHY it say's o Comments- YOU are COMMIES- BIG BROTHER and most likely- voted for Obama!

  3. In Europe there are schools for hairdressing but you don't get a license afterwards but you are required to assist in turkey and Italy its 7 years in japan it's 10 years England 2 so these people who assist know how to do hair their not just anybody and if your an owner and you hire someone with no experience then ur an idiot I've known stylist from different countries with no license but they are professional clean and safe they have no license but they have experience a license doesn't mean anything look at all the bad hairdressers in the world that have fried peoples hair okay but they have a license doesn't make them a professional at their job I think they should get rid of it because stateboard robs stylist and owners and they fine you for the dumbest f***ing things oh ur license isn't displayed 100$ oh ur wearing open toe shoes fine, oh there's ONE HAIR IN UR BRUSH that's a fine it's like really? So I think they need to go or ease up on their regulations because their too strict

  4. Exciting times in Carmel.

  5. Twenty years ago when we moved to Indy I was a stay at home mom and knew not very many people.WIBC was my family and friends for the most part. It was informative, civil, and humerous with Dave the KING. Terri, Jeff, Stever, Big Joe, Matt, Pat and Crumie. I loved them all, and they seemed to love each other. I didn't mind Greg Garrison, but I was not a Rush fan. NOW I can't stand Chicks and all their giggly opinions. Tony Katz is to abrasive that early in the morning(or really any time). I will tune in on Saturday morning for the usual fun and priceless information from Pat and Crumie, mornings it will be 90.1