Anderson forecast 2012.

• Author: Faulk, Dagney

The data available thus far for 2011 show a mixed economic picture in the Anderson metropolitan area (Madison County). There are a few encouraging signs in the local economy. The 2010 Census showed only a small population decline (1.3 percent) from 2000. The unemployment rate has decreased over the past year. Manufacturing employment has increased as have overall wages. Anderson, like other cities in the Midwest is struggling to redefine itself after the 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 increasing employment.

This article includes the most current data available on various measures of economic activity from public sources for the Anderson metropolitan 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 has decreased over the past year with the exception of a couple of months early in the year (see Table 1). The preliminary unemployment rate for September 2011 is 9.7 percent and is higher than the state (8.5 percent) and national (8.8 percent) unemployment rates (not seasonally adjusted). The number of unemployed workers in Madison County has slowly trended down since March, but the labor force has been decreasing also, leading to the stubbornly high unemployment rates for the county. This suggests that frustrated job seekers are continuing to drop out of the labor market, migrate out of the area or both.

Table 1: Labor Force and Unemployment for Madison County, September 2010 to September 2011 Year Month Labor Force Unemployed Unemployment Rate 2010 September 60,992 6,400 10.5% October 61,086 6,275 10.3% November 61,144 6,567 10.7% December 60,411 6,355 10.5% Annual 61,538 7,035 11.4% 2011 January 60,374 6,821 11.3% February 60,124 6,612 11.0% March 60,527 6,228 10.3% April 59,466 5,643 9.5% May 60,338 5,802 9.6% June 60,681 5,998 9.9% July 59,998 6,079 10.1% August 60,674 6,171 10.2% September* 60,246 5,834 9.7% *September 2011 data are preliminary. Note: Data are not seasonally adjusted. Source: Bureau of Labor Statistics A look at the Current Employment Statistics shows...