Indiana recovery well underway; up next, the expansion

March 31, 2011
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Sometimes it’s hard to tell just where things stand with the economy, with all of the numbers coming and going. But one important indicator suggests Indiana is clawing its way back toward a highpoint experienced just before the recession.

In a forthcoming column in IBJ, Morton Marcus points out that personal income at the end of 2010 was 2 percent above the second quarter of 2008, the most recent peak. (Personal income includes pretty much the shebang—wages and salaries, Social Security, Medicare, dividends, unemployment compensation, self-employment income and so on.

“I think it’s been a remarkably fast recovery given the torment we’ve had from it,” says Marcus, a former director of the Indiana Business Research Center at Indiana University.

What hasn’t caught up are wages and salaries. The component is still 2 percent below the peak, he says. Another is job numbers. The state stubbornly remains about 200,000 short of the nearly 3 million jobs of early 2008.

So the economy is crawling ahead. When the next expansion will begin, and how long it will last, are anyone’s guesses, he says. Expansions used to last a couple of years, but in the past three decades they’ve tended to linger for several years at a time.

  • Recovery
    Is this guy for real???? Where has he been it could not have been Indiana? I don't see any change at all...... I'm still out of a job!!!

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  1. These liberals are out of control. They want to drive our economy into the ground and double and triple our electric bills. Sierra Club, stay out of Indy!

  2. These activist liberal judges have gotten out of control. Thankfully we have a sensible supreme court that overturns their absurd rulings!

  3. Maybe they shouldn't be throwing money at the IRL or whatever they call it now. Probably should save that money for actual operations.

  4. For you central Indiana folks that don't know what a good pizza is, Aurelio's will take care of that. There are some good pizza places in central Indiana but nothing like this!!!

  5. I am troubled with this whole string of comments as I am not sure anyone pointed out that many of the "high paying" positions have been eliminated identified by asterisks as of fiscal year 2012. That indicates to me that the hospitals are making responsible yet difficult decisions and eliminating heavy paying positions. To make this more problematic, we have created a society of "entitlement" where individuals believe they should receive free services at no cost to them. I have yet to get a house repair done at no cost nor have I taken my car that is out of warranty for repair for free repair expecting the government to pay for it even though it is the second largest investment one makes in their life besides purchasing a home. Yet, we continue to hear verbal and aggressive abuse from the consumer who expects free services and have to reward them as a result of HCAHPS surveys which we have no influence over as it is 3rd party required by CMS. Peel the onion and get to the root of the will find that society has created the problem and our current political landscape and not the people who were fortunate to lead healthcare in the right direction before becoming distorted. As a side note, I had a friend sit in an ED in Canada for nearly two days prior to being evaluated and then finally...3 months later got a CT of the head. You pay for what you get...