Anderson forecast 2013.

• Author: Faulk, Dagney

Thus far, the available data for 2012 show a mixed picture for the Anderson Metropolitan Statistical Area (MSA). The unemployment rate in the Anderson MSA (Madison County) decreased by more than a percentage point during 2012, but still remains above the state's rate. While the labor force decreased, the number of jobs in the MSA increased but still continues to be substantially lower than at the beginning of the recession. There have been nine announcements so far this year of employers planning to come to the area, totaling 1,067 potential jobs. Hoosier Park Casino is facing increased competition as Ohio casinos open for business. Average weekly wages increased in most industry sectors but still lag the state. The housing market appears to have stabilized and the sales of existing homes have increased as has the average home price. Unfortunately, more people are receiving food stamps and city schools continue to lose students.

This article includes the most current data available at the time of writing on various measures of economic activity from public sources for the Anderson MSA. The goal is 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 (see Table 1). The preliminary unemployment rate for September 2012 is 9.0 percent, down from 10.1 percent a year earlier. The unemployment rate is consistently higher than the state unemployment rate (7.5 percent, not seasonally adjusted). The number of unemployed workers in Madison County has decreased by more than 1,100 over the course of the year, and the labor force has decreased by about 700 workers leading to the decreasing unemployment rate and suggesting that frustrated job seekers are continuing to drop out of the labor market or migrate out of the area (or both). Additionally, almost 11 percent of those working within the county live elsewhere and travel here only for employment.

TABLE 1: Labor Force and Unemployment for Madison County, September 2011 to September 2012 Year Month Labor Force Unemployed Unemployment Rate September 61,534 6,202 10.1 October 61,519 6,131 10.0 2011 November 61,058 6,178 10.1 December 60,683 6,103 10.1 Annual 61,156 6,432 10.5 January 60,682 6,550 10.8 February 60,838 6,303 10.4 March 61,018 6,120 10.0 April 60,479 5,393 8.9 2012 May 60,780 5,536 9.1 June 60,478 5,889 9.7 July 59,894 5,893 9.8 August 60,193 5,708 9.5 September * 59,967 5,424 9.0 * September 2012 data are preliminary. Note: Data are not seasonally adjusted. Source: Bureau of Labor Statistics A look at the Current Employment Statistics shows variation in employment gains and losses in 2012. Total nonfarm jobs in Madison County averaged 39,890 for the first three quarters of 2012. This is the first increase in nonfarm employment since the recession, yet still represents a decrease of about 1,400 jobs since the beginning...