Indiana Leads the Nation in Job Growth
WTHR-TV
updated 3:32 p.m. ET, Tues., June 22, 2010
Rich Van Wyk /Eyewitness News
Indianapolis - As a nation struggles to find a way out of this devastating economic recession, Indiana is creating more new jobs than any other state. Even the Wall Street Journal took notice.
With 48,000 new jobs so far this year, no other state has a larger percentage of job growth than Indiana. It's no surprise to the founder and CEO of AIT Laboratories.
"The state of Indiana has been business-friendly," said Michael Evans, AIT's CEO.
The Indianapolis-based company hired 100 more workers this year and is expanding its headquarters. Business-friendly state regulations, a skilled workforce and lower operating costs are among the reasons.
Overall the state is very good for doing business. It's low economic cost for us to do business and great location for logistics throughout the country," said Evans.
Indiana's working workforce has grown about two percent since January, an encouraging sign for state officials eager for an economic revival.
"Anytime the Wall Street Journal reports Indiana is leading the nation in job growth. It shows you are holding your own," said Marc Lotter, Department of Workforce Development.
In a nation still recovering from a devastating recession, when Indiana is better than all the other states, what does that really mean?
"We are doing better than most of the country, but that is not saying much, because the whole economy is down right now," said Matt Will, economist.
Although Indiana created the most jobs, 34 states have lower employment rates. Indiana's is stuck at 10 percent. Nearly half of the new jobs created in May are temporary Census jobs. Key industries like construction and transportation lost jobs.
"It is true Indiana leads the country in creating jobs. But we still aren't creating enough jobs. We need more jobs to keep unemployment from rising," said Will.
The number of available workers is still growing faster than the number of available jobs.
Will figures Indiana needs 12,000 to 15,000 new jobs every month just to hold the line on unemployment. Although the current job growth is short of that number, Indiana leads the pack and many believe the state is in a better position to take advantage an economic recovery.
Meantime, Americans who already have jobs are more likely to be working longer hours. That's because even though companies are seeing more work, they are generally cautious about hiring new workers.
In May, the average weekly hours of private employees rose for the third month in a row.
For the complete story go to: http://www.msnbc.msn.com/id/37837930/ns/local_news-indianapolis_in/
updated 3:32 p.m. ET, Tues., June 22, 2010
Rich Van Wyk /Eyewitness News
Indianapolis - As a nation struggles to find a way out of this devastating economic recession, Indiana is creating more new jobs than any other state. Even the Wall Street Journal took notice.
With 48,000 new jobs so far this year, no other state has a larger percentage of job growth than Indiana. It's no surprise to the founder and CEO of AIT Laboratories.
"The state of Indiana has been business-friendly," said Michael Evans, AIT's CEO.
The Indianapolis-based company hired 100 more workers this year and is expanding its headquarters. Business-friendly state regulations, a skilled workforce and lower operating costs are among the reasons.
Overall the state is very good for doing business. It's low economic cost for us to do business and great location for logistics throughout the country," said Evans.
Indiana's working workforce has grown about two percent since January, an encouraging sign for state officials eager for an economic revival.
"Anytime the Wall Street Journal reports Indiana is leading the nation in job growth. It shows you are holding your own," said Marc Lotter, Department of Workforce Development.
In a nation still recovering from a devastating recession, when Indiana is better than all the other states, what does that really mean?
"We are doing better than most of the country, but that is not saying much, because the whole economy is down right now," said Matt Will, economist.
Although Indiana created the most jobs, 34 states have lower employment rates. Indiana's is stuck at 10 percent. Nearly half of the new jobs created in May are temporary Census jobs. Key industries like construction and transportation lost jobs.
"It is true Indiana leads the country in creating jobs. But we still aren't creating enough jobs. We need more jobs to keep unemployment from rising," said Will.
The number of available workers is still growing faster than the number of available jobs.
Will figures Indiana needs 12,000 to 15,000 new jobs every month just to hold the line on unemployment. Although the current job growth is short of that number, Indiana leads the pack and many believe the state is in a better position to take advantage an economic recovery.
Meantime, Americans who already have jobs are more likely to be working longer hours. That's because even though companies are seeing more work, they are generally cautious about hiring new workers.
In May, the average weekly hours of private employees rose for the third month in a row.
For the complete story go to: http://www.msnbc.msn.com/id/37837930/ns/local_news-indianapolis_in/
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