September 28, 2007
Members of the State Workforce Innovation Council (SWIC):
We are pleased to submit to you the Indiana Department of Workforce Development’s Annual Economic
Analysis Report for the fiscal year of 2006.
This analysis provides us with a mid-course evaluation of our progress in achieving our important goals
of growing Hoosier jobs and increasing personal income. As we have discussed, capitalizing on Indiana’s
strengths and identifying emerging growth industries are the keys to an economic comeback for all Hoosiers.
Indiana has experienced major challenges over the years, particularly within the manufacturing industry.
Nevertheless, there are numerous positives that are signaling our state’s return to prosperity. Many of the job
losses that Indiana experienced are now being replaced as a result of new business development and expan-
sions such as the new Honda plant in Greensburg, WellPoint in Indianapolis and in the growth of companies
such as SIA in Lafayette and Cummins in Columbus. The health care field has seen an explosion of new jobs
throughout the state with the construction of new hospitals and expansion of existing health care facilities.
While average annual wages are continuing to increase, state unemployment rates are decreasing. In fact, in
2007, Indiana’s non-seasonally adjusted unemployment rate dipped below the national rate for the first time in
All in all, there is reason for optimism. Indiana is making a comeback, but much more remains to be done.
Creating more jobs, improving workers’ skills, and increasing educational attainment are vitally important to be
competitive in a global economy. Needless to say, we look forward to working with you in the months ahead to
achieve these goals.
Andrew J. Penca
The Indiana Economic Analysis Report involved the
following collaborators and/or contributors:
DWD/Research and Analysis
Hope Clark, Director
DWD/Advanced Economic and Market Analysis
Craig Volle, Econ