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State's unemployment rate rises to 8.5 percent

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Indiana’s unemployment rate rose to 8.5 percent in July, reaching its highest level since March, the state’s Department of Workforce Development said Friday morning.

Indiana saw total employment fall again—by 10,100 from June to July after a decline of 5,900 from May to June. The number of unemployed Hoosiers climbed to 269,816 in July, from a revised 267,071in June.

The only sector adding a significant amount of jobs was manufacturing.

Employment in trade, transportation and utilities; construction; and private education and health care showed the largest declines.

Meanwhile, the nation’s unemployment rate dipped one-tenth of a percentage point in July, to 9.1 percent.

“In comparison to our neighbors, Indiana is the only state below 9 percent,” Indiana DWD Commissioner Mark W. Everson said in a prepared statement. “In terms of jobs, the bright spot for the month was an increase in manufacturing, but we saw a tightening across other sectors.”

Ohio’s unemployment rate is 9 percent, Illinois and Kentucky are both at 9.5 percent, and Michigan’s is 10.9 percent.

Indiana’s unemployment rate is up from 8.3 percent in June. The rate had been at 8.2 percent the previous two months.

In the Indianapolis metropolitan area, the non-seasonally adjusted jobless rate held steady at 8 percent in July, the same as in June, but down significantly from 9.1 percent in July 2010. Comparisons of metro areas are more accurately made using the same months in prior years because the government does not adjust the figures for factory furloughs and other seasonal fluctuations.

 

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  1. Aaron is my fav!

  2. Let's see... $25M construction cost, they get $7.5M back from federal taxpayers, they're exempt from business property tax and use tax so that's about $2.5M PER YEAR they don't have to pay, permitting fees are cut in half for such projects, IPL will give them $4K under an incentive program, and under IPL's VFIT they'll be selling the power to IPL at 20 cents / kwh, nearly triple what a gas plant gets, about $6M / year for the 150-acre combined farms, and all of which is passed on to IPL customers. No jobs will be created either other than an handful of installers for a few weeks. Now here's the fun part...the panels (from CHINA) only cost about $5M on Alibaba, so where's the rest of the $25M going? Are they marking up the price to drive up the federal rebate? Indy Airport Solar Partners II LLC is owned by local firms Johnson-Melloh Solutions and Telemon Corp. They'll gross $6M / year in triple-rate power revenue, get another $12M next year from taxpayers for this new farm, on top of the $12M they got from taxpayers this year for the first farm, and have only laid out about $10-12M in materials plus installation labor for both farms combined, and $500K / year in annual land lease for both farms (est.). Over 15 years, that's over $70M net profit on a $12M investment, all from our wallets. What a boondoggle. It's time to wise up and give Thorium Energy your serious consideration. See http://energyfromthorium.com to learn more.

  3. Markus, I don't think a $2 Billion dollar surplus qualifies as saying we are out of money. Privatization does work. The government should only do what private industry can't or won't. What is proven is that any time the government tries to do something it costs more, comes in late and usually is lower quality.

  4. Some of the licenses that were added during Daniels' administration, such as requiring waiter/waitresses to be licensed to serve alcohol, are simply a way to generate revenue. At $35/server every 3 years, the state is generating millions of dollars on the backs of people who really need/want to work.

  5. I always giggle when I read comments from people complaining that a market is "too saturated" with one thing or another. What does that even mean? If someone is able to open and sustain a new business, whether you think there is room enough for them or not, more power to them. Personally, I love visiting as many of the new local breweries as possible. You do realize that most of these establishments include a dining component and therefore are pretty similar to restaurants, right? When was the last time I heard someone say "You know, I think we have too many locally owned restaurants"? Um, never...

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