Indiana outperforms the nation.

• Position: Employment

Indiana's seasonally adjusted unemployment rate of 4.9 percent in November not only is significantly lower than the U.S. November rate of 6.5 percent, but it also is lower than the unemployment rates of surrounding states. The evidence continues to indicate that the Indiana economy is, for the moment, outperforming the rest of the nation.

The surge in the U.S. economy in the second half of 1993 has been led by durable-goods industries--particularly auto- and housing-related industries--so the relative performance of Indiana is perhaps not surprising. Since November 1992, the U.S. unemployment rate has fallen from 7.3 to 6.5 percent, while at the same time the Indiana rate improved from 6.5 to 4.9 percent, double the national margin of improvement.

The unemployment report for the U.S. economy in December has brought even more encouraging news. U.S. business establishments reported that employment was up by 183,000 jobs in December compared to a month earlier. While this gain is not as large as the November increase of 202,000 jobs, it represents the fourth consecutive month of significant job growth for the nation.

The new year brings concerns over whether the economy will continue to strengthen in the face of the new challenges it will encounter. Thanks to the growth of the last several months, the question is no longer whether the economy will expand, but how robust that expansion will be.

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