2004 - Economic Snapshot of Indiana2/18/2004
A snapshot of economic information for Indiana shows the pain working families are facing.
Jobs and Unemployment
Unemployment rate for Indiana: 5.1 percent
Change in number of jobs from January 2001 to October 2003: -91,600
Change in manufacturing jobs from January 2001 to October 2003: -59,800
Indiana residents who are poor: 552,000 (9.1 percent)
Poor children: 167,000 (10.5 percent)
Individuals who have no health care coverage: 797,000 (13.1 percent)
Uninsured children: 158,000 (9.8 percent)
Workers who have pensions provided by their employers: 55.2 percent
Indiana schools that require repairs to be in good overall condition: 85 percent.
Needed repairs and upgrades will cost an estimated $ 3,537,737,613.
Indiana residents who either do not have enough food or are uncertain about how much food they will have every day: 8.9 percent
Number of personal bankruptcies in Indiana in 2002: 52,859 (a change of 42.4 percent in two years)
33.3 percent of rental households in Indiana spend more than 30 percent of their income on housing.
Roads and Bridges
Approximately 37.2 percent of Indiana's roads are in poor to only mediocre condition. And, 23 percent of the state's bridges that are 20 feet or longer have structural deficiencies or are functionally obsolete.
State Financial Situation
The budget crisis in Indiana resulted in cutbacks to key programs and undermined the state's ability to meet critical needs. At one point Indiana faced a projected FY 2004 budget gap of $ 750,000,000, which it had to close before the beginning of the FY 2004 fiscal year. Since FY 2004 began, a gap of $ 800,000,000 has emerged.
Sources: American Bankruptcy Institute; American Society of Civil Engineers; Bureau of Labor Statistics, U.S. Department of Labor; Center on Budget and Policy Priorities; Economic Policy Institute; U.S. General Accounting Office; National Conference of State Legislatures; National Education Association; The Road Information Program; Dale Rusakoff and Rene Sanchez, "N.J. and Calif. Lawmakers Down to Wire on Budgets; Both States Divided on How to Close Deficits," The Washington Post, 7/1/2003; Surface Transportation Policy Project; U.S. Census Bureau; and the U.S. Department of Agriculture.