Indiana’s private sector added nearly 10,000 jobs last month. Yet for the fourth consecutive month, the unemployment rate failed to drop. Still, Governor Mike Pence says July’s employment numbers tell him Indiana’s economy is “all systems go.”
The Hoosier private sector has added jobs for ten consecutive months, surging again in July with 9,900 jobs created. That boost was led by the manufacturing sector, which added more than 5,000 jobs, the most in the country last month.
Purdue agriculture experts say the crop report released Tuesday projects potential record highs for corn and soybeans, and experts say that’s good news for Hoosiers at the grocery store.
Indiana farmers are projected to harvest a little more than one billion bushels of corn this year, which would set a record for the second consecutive year. The predicted soybean harvest would be the third-largest in state history and up nearly six percent from last year.
New analysis from Indiana University suggests the Hoosier economy is heading in the right direction.
The Leading Index for Indiana – which uses national-level economic data to make predictions about the state’s economy – rose slightly in July. That’s the second monthly increase in a row.
According to Timothy Slaper at the IU Kelley School of Business, the increase comes in part because of a jump in homebuilder sentiment, what he calls the “exhuberant stock market,” and a strong outlook in transportation and logistics.
Indiana leaders at both the federal and state level are exploring ways to encourage more growth in the state’s medical device industry.
Later this summer, the Indiana legislature will devote a study committee to investigating ways the state can help medical device manufacturers.
Earlier this week, U.S. Senator Dan Coats sat down with leaders from the industry in northern Indiana. He says he came away with two avenues for helping the sector, including getting the Food and Drug Administration to ease some of the lengthy restrictions on approving new technology.
An Indiana University economist says the Leading Index for Indiana – an economic predictor for the state – is sending mixed messages about the health of the Hoosier economy.
The Leading Index is at its highest point in four months, backed by positive reports from home builders and strong automotive sales. But Indiana Business Research Center Economic Analysis Director Timothy Slaper says small business optimism is down and rising mortgage rates are dampening enthusiasm.