Indiana recovery well underway; up next, the expansion

March 31, 2011
Back to TopCommentsE-mailPrintBookmark and Share

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.
 

ADVERTISEMENT
  • 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!!!

Post a comment to this story

COMMENTS POLICY
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
ADVERTISEMENT
  1. If I were a developer I would be looking at the Fountain Square and Fletcher Place neighborhoods instead of Broad Ripple. I would avoid the dysfunctional BRVA with all of their headaches. It's like deciding between a Blackberry or an iPhone 5s smartphone. BR is greatly in need of updates. It has become stale and outdated. Whereas Fountain Square, Fletcher Place and Mass Ave have become the "new" Broad Ripples. Every time I see people on the strip in BR on the weekend I want to ask them, "How is it you are not familiar with Fountain Square or Mass Ave? You have choices and you choose BR?" Long vacant storefronts like the old Scholar's Inn Bake House and ZA, both on prominent corners, hurt the village's image. Many business on the strip could use updated facades. Cigarette butt covered sidewalks and graffiti covered walls don't help either. The whole strip just looks like it needs to be power washed. I know there is more to the BRV than the 700-1100 blocks of Broad Ripple Ave, but that is what people see when they think of BR. It will always be a nice place live, but is quickly becoming a not-so-nice place to visit.

  2. I sure hope so and would gladly join a law suit against them. They flat out rob people and their little punk scam artist telephone losers actually enjoy it. I would love to run into one of them some day!!

  3. Biggest scam ever!! Took 307 out of my bank ac count. Never received a single call! They prey on new small business and flat out rob them! Do not sign up with these thieves. I filed a complaint with the ftc. I suggest doing the same ic they robbed you too.

  4. Woohoo! We're #200!!! Absolutely disgusting. Bring on the congestion. Indianapolis NEEDS it.

  5. So Westfield invested about $30M in developing Grand Park and attendance to date is good enough that local hotel can't meet the demand. Carmel invested $180M in the Palladium - which generates zero hotel demand for its casino acts. Which Mayor made the better decision?

ADVERTISEMENT