Saturday, November 22, 2008

Indiana Fares Better Than Others In Tough Economic Conditions

This wasn't quite how it played out back in the 1970s, but Indiana is surprisingly doing better than all of its surrounding states in what is shaking up to be the worst post- Great Depression economic downturn in the US. Compare these latest unemployment figures:

  • Indiana (6.4%)
  • Nationwide (6.5%)
  • Kentucky (6.8%)
  • Ohio (7.3%)
  • Illinois (7.3%)
  • Michigan (9.3%)

Ted Evanoff of the Star reports that the opening of Honda's massive automotive plant in Greensburg helped offset jobs lost elsewhere in the state's most recent unemployment figures. "We have a more diversified economy than Michigan's,'' said Peter Grossman, an economics professor at Butler University in Indianapolis. "There have been successful efforts to attract companies, not just Honda, but that certainly doesn't hurt. But also warehouses and logistics centers."

Also, thanks to Gov. Mitch Daniels, the state has a pretty sizable rainy day fund. Our budget problems pale in comparison to the nightmare faced in neighboring Illinois where Democrats have completely plundered the state after attaining one party domination of the state and piling on massive tax increases accompanied by new spending. Unquestionably, things are going to get much worse before they get better here in Indiana, but we can be grateful that we have a sharp, steady hand at the helm during these tough times.

1 comment:

Zookeeper29 said...

This is one reason why Jill-whats her name lost the election. Say what you want, but Governor Daniels is doing a far better job than the previous three.