What to expect in Indiana's metro economies: economists from around the state share their forecasts for metros around the state in the online edition of the Indiana Business Review.
Metro Unemployment Rates at a Glance
Here are some highlights of how our experts predict employment will change in 2015. The graphs show the September unemployment rates for each year from 2004 to 2014. The shaded region shows rates from 3 percent to 6 percent.
ANDERSON
Dr. Terry Truitt, Anderson University
The unemployment rate looks to drop another 0.5-1.0 percent in 2015 as the economy continues to improve. The rate decline could be a little stronger (in the 1.5-2.0 percent range); however, the improving economy will likely draw a number of previously frustrated unemployed back into the labor force.
BLOOMINGTON
Dr. Jerry Conover, Indiana University
Modest growth is predicted for the Bloomington area in 2015, driven by continued population growth, generally improving economic conditions nationally and statewide, and the nature of the local economy. We forecast local payroll employment to add about 1,000 to 1,500 jobs during the year.
COLUMBUS
Dr. Ryan Brewer, Indiana University--Purdue University Columbus
Columbus is positioned to experience another year of economic prosperity in 2015, likely experiencing modest job growth. Growth in the manufacturing sector can be expected to persist going forward as consumer optimism prevails, stoking demand for durable goods over the coming year.
ELKHART
Dr. Hong Zhuang, Indiana University South Bend
Given a growing demand for durable goods and more business investment, the Elkhart-Goshen MSA should observe a continued increase in gross production, labor force and employment. The unemployment rate may continue to fall in 2015.
EVANSVILLE
Dr. Mohammed Khayum, University of Southern Indiana
The strength of the recovery in the Evansville area is linked to the strength of the broader U.S. economy. In 2015, Evansville metro area jobs are projected to increase by 1,900, and the unemployment rate is projected to be 4.9 percent.
FORT WAYNE
Dr. Ellen Cutter, Indiana University--Purdue University Fort Wayne
The Fort Wayne area can expect job growth of about 2 percent in 2015. While unemployment rates may be driven further down in 2015, they will likely remain in the 4.0-5.0 percent range.
GARY
Dr. Micah Pollak, Indiana University Northwest
The Northwest Indiana economy is forecasted to grow 2.2 percent in 2015 and regional employment is forecasted to increase by 0.7 percent or generate 2,000 new jobs.
INDIANAPOLIS
Dr. Kyle Anderson, Indiana University
Expect the unemployment rate to continue to decline to around...
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