New government figures show wages earned by Hoosiers are not growing as quickly as Americans’ wages as a whole.
Average compensation per job in
Marcus said the weak performance is the latest in a trend dating to the 1970s, when the state’s dominant manufacturing sector peaked.
Many of the factors that began eroding the state’s core auto and steel sectors are still in effect, he said. Companies are using more technology and fewer people to accomplish tasks, meaning the traditionally well-paying jobs are squeezed out.
Automakers also are using less steel as they struggle to reduce weight in order to boost fuel efficiency.
“This is a very long-term relative decline in the kinds of industries that made
He predicted a decade or more will be needed to reverse the momentum so