INDIANA ECONOMIC COMPETITIVENESS DASHBOARD

As Indiana works to bring its economy roaring back, we are tracking key statistics related to economic recovery and providing this Indiana Economic Competitiveness Dashboard as a resource for various stakeholders in the state’s economy. Big and fast changes are coming for Indiana’s economy, workplaces and people. It’s simply not good enough to work towards recovery and trying to get back to where we were before the pandemic and events of the last year.

Now is the time for Indiana, which has previously proven itself a national economic and reform leader, to energize and focus on a new vision for our state that sets a standard. This statistical dashboard is a project of the Accelerating Indiana Vision 2025+ initiative of the Indiana Chamber Foundation and made possible through the generous support of investors in the initiative (see below).

Unemployment Rate

3.6%

Latest: steady

Neighbor State Ranking: 1st (lowest) of 5

*Competitor Ranking: 6th lowest of 6

Initial UI Claims (per 1,000 employed persons)

1.46

Latest: trending down

Neighbor State Ranking: 2nd of 5 (lowest rate)

*Competitor Ranking: 4th of 6

Labor Force Participation Rate

63.2%

Latest: steady

Neighbor State Ranking: 2nd of 5

*Competitor Ranking: 4th of 6

Employed Persons Net Change Since Jan. 2020

4.6%

Latest: trending steady

Neighbor State Ranking: 1st of 5

*Competitor Ranking: 4th of 6

Average Weekly Earnings Percentage Change from Jan. 2020

11.3%

Latest: trending downward

Neighbor State Ranking: 5th of 5

*Competitor Ranking: 6th of 6

Average Weekly Earnings Adjusted for Cost of Living

$1,142

Latest: trending downward

Neighbor State Ranking: 4th of 5

*Competitor Ranking: 3rd of 6

Total Wages and Salaries Change from Q1 2020

24.2%

Latest: trending upward

Neighbor State Ranking: 1st of 5

*Competitor Ranking: 4th of 6

Per Capita Income Adjusted for Cost of Living

$66,865

Latest: up; trending upward

Neighbor State Ranking: 2nd of 5

*Competitor Ranking: 4th of 6

State GDP Percentage Change from Jan. 2020

30.1%

Latest: trending upward

Neighbor State Ranking: 1st of 5

*Competitor Ranking: 3rd of 6

COVID-19 Vaccination Rate (% of population fully vaccinated)

57.9%

Latest: trending steady

Neighbor State Ranking: 5th of 5

*Competitor Ranking: 5th of 6

Unemployment Rate (U.S. Bureau of Labor Statistics):

A state’s unemployment rate represents the number of unemployed people as a percentage of the labor force (the labor force is the sum of the employed and unemployed).

Initial UI Claims (U.S. Employment and Training Administration):

An initial unemployment insurance (UI) claim is filed by an unemployed individual after a separation from an employer. The claim requests a determination of basic eligibility for the UI program.

Labor Force Participation Rate (U.S. Bureau of Labor Statistics):

A state’s labor-force participation rate is the number of all employed and unemployed workers divided against the state’s civilian population.

Employed Persons Net Change (U.S. Bureau of Labor Statistics):

Number of total private employees, per state.

Average Weekly Earnings % Change from 2020 (U.S. Bureau of Labor Statistics):

Average weekly earnings of all employees on private nonfarm payrolls by industry sector.

Average Weekly Earnings Adjusted for Cost of Living (U.S. Bureau of Labor Statistics; Missouri Economic Research and Information Center):

Average weekly earnings of all employees on private nonfarm payrolls by industry sector, adjusted for cost of living based on a state-level composite cost of living index, based on urban areas within each state.

Total Wages and Salaries Change from Q1 2020 (U.S. Bureau of Economic Analysis):

Data represent the sum of wages and salaries and supplements to wages and salaries.

Per Capita Income Adjusted for Cost of Living (U.S. Bureau of Economic Analysis; Missouri Economic Research and Information Center):

Consists of the total income that persons receive in return for their provision of labor, land, and capital used in current production as well as other income, such as personal current transfer receipts divided by the mid-year population. Data are adjusted for cost of living based on a state-level composite cost of living index, based on urban areas within each state. (Note: Data reporting includes federal stimulus payments, which contribute to significant fluctuations in quarterly data.)

State GDP Percent Change (U.S. Bureau of Economic Analysis):

Gross domestic product (GDP) by state is the measure of the market value of all final goods and services produced within a state in a particular period of time. In concept, an industry’s GDP by state, referred to as its “value added”, is equivalent to its gross output (sales or receipts and other operating income, commodity taxes, and inventory change) minus its intermediate inputs (consumption of goods and services purchased from other U.S. industries or imported).

COVID-19 Vaccination Rate (% of population fully vaccinated)

The following chart show the total percentage of the population that has been fully vaccinated against COVID-19. This represents those that have received all doses prescribed by the vaccination protocol. Source: Aggregated data from CDC as compiled and updated by Edouard Mathieu of Our World in Data.

NOTE: For the first or featured statistic, the arrow indicates the change since the last reported data update.
*Competitor: Iowa, Minnesota, North Carolina, Tennessee and Utah have ranked highly in recent national comparisons, are generally regarded as possessing economic momentum and compete with Indiana in certain industries. 

Thank You to Our Investors

Accelerating Indiana Vision 2025+ relies on the generous support of individuals, corporations and foundations to ensure our ability to facilitate the growth and development of Indiana’s economic climate. We are grateful for all the investors who make this work possible, especially those leading the way:

aes Indiana
Duke Energy
Garatoni-Smith Family Foundation
Indiana American Water
Indiana Michigan Power
NIPSCO
Allegion
Ambassador
Beck's
CenterPoint Energy
Citizens Energy Group
The Heritage Group
Indiana University Health
Lilly
Old National Bank
Thompson Thrift
Wabash Valley Power Alliance
Zimmer Biomet Foundation