Greene County’s unemployment rate is reportedly nestled in between the lower national & the higher State of Indiana’s rate. For a map of all of the counties within the state, which is published by the Indiana Department of Workforce Development, see here:
http://www.hoosierdata.in.gov/docs/laus/laus_map.pdf
Statewide, the jobless rate hits 8.2% today, according to the government reports. This figure is almost double the one reported about a year ago when the rate was only in the mid-4% range. This is not surprising, but nonetheless ‘not good’ either, especially when another thought comes to mind:
Historically, in the business cycle, layoff announcements were considered a ‘lagging indicator’ or those measurable results that would confirm long-term trends, such as a recession. Lagging indicators did not predict events like this in the past, but they merely confirmed them; yet, is this still true today? That is the real question!
It’s no secret that the U.S. economy has been shifting to be more-and-more service-based and less manufacturing-based.
So, if Tom gets the axe at the factory and can’t afford Sam’s service now, then guess what? Sam is in trouble business-wise. So, if Sam’s in trouble, is he going to buy services from Thelma? Probably not. So, now Thelma’s business is down. In turn, Thelma -- well -- you get the idea...
Where does the downward spiral end then?
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