20 past 4 in fort wayne indiana1/17/2024 ![]() When comparing the 2020 regional private sector employment data from the 11-county northeast Indiana area 1 to a year before, a few key themes emerge, as shown in the Table 1 series: Bureau of Economic Analysis release in November, and 2020’s gross domestic product at the local level is set to release in December. The 2020 personal income statistics (which include data about unemployment payments) from the U.S. Bureau of Labor Statistics’ average annual wages and job counts via the Quarterly Census of Employment and Wages (QCEW) came out in June. Employment and wagesĪlthough the initial pandemic shutdowns were nearly two years ago, data reflecting the pandemic’s economic consequence are still coming out. Purdue University Fort Wayne’s unemployment model for 2022 indicates Fort Wayne’s tight labor market will continue into next year, requiring employers to offer more favorable wage and benefits packages to attract needed workers. In short, local data does not show a consistent pattern against the state and nation sometimes it is more favorable and sometimes it underperforms the comparison groups. ![]() This includes shrinking labor force numbers, difficulty filling plentiful open positions, and a widespread desire of workers across the pay scale to balance their professional and personal lives.įor the 2022 outlook, we are using 2020 employment, wages and population data to identify what’s ahead. Although we have been living this public health and economic crisis for almost two years, its consequences continue to play out in Fort Wayne in new and unexpected ways. Our fingers are crossed that this is the last forecast in our lifetime where we need to consider a viral pandemic. Assistant Professor of Economics, Purdue University Fort Wayne
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