Anderson forecast 2011.

• Author: Faulk, Dagney
• Position: Economy - Statistical data

The data available thus far for 2010 suggest that the economic situation in the Anderson Metropolitan Statistical Area (Madison County) has improved over the past year. Aside from the Indianapolis Colts training camp moving back to Anderson after more than a 10-year absence, there are several encouraging signs in the local economy. The number of jobs and the population have remained steady. This could represent a turning point. Anderson, like other cities in the Midwest, is struggling to redefine itself after the great exodus of large-scale manufacturing firms over the past several decades. Added to this mix is the necessary restructuring of local government activities due to property tax caps. To its credit, Anderson has some high-profile companies such as Bright Automotive (hybrid electric vehicles) and Coes (antimicrobial additives) working on new technologies and the Flagship Enterprise Center is expanding.

This article includes the most current data available on various measures of economic activity from public sources for the Anderson metro area in order to analyze changes over the past year. A summary of the labor market forecast for the Anderson area is included in the conclusion.

Labor Markets

In Madison County, the unemployment rate peaked at 11.9 percent in early 2010 (see Table 1). The preliminary unemployment rate for September 2010 is 10.7 percent, higher than both the state (9.5 percent) and nation (9.2 percent) using the not seasonally adjusted data. The number of unemployed workers in Madison County has trended down slowly since March but the labor force has also decreased; this led to the stubbornly high unemployment rates for the county and suggests that frustrated job seekers are continuing to drop out of the labor market, that residents are migrating out of the area, or both.

* TABLE 1: Labor Force and Unemployment for Madison County, September 2009 to September 2010 Year Month Labor Force Unemployed Unemployment Rate 2009 September 61,358 6,073 9.9 October 61,298 6,228 10.2 November 60,966 6,164 10.1 December 60,298 6,442 10.7 Annual 62,046 6,633 10.7 2010 January 60,427 7,040 11.7 February 60,394 7,175 11.9 March 60,717 7,238 11.9 April 61,067 6,764 11.1 May 62,156 6,757 10.9 June 61,771 7,176 11.6 July 61,509 7,165 11.6 August 61,539 7,021 11.4 September * 60,674 6,476 10.7 * September 2010 data are preliminary. Note: Data are not seasonally adjusted. Source: Bureau of Labor Statistics Current Employment Statistics...