While the unemployment rate in Indiana sits at 9 percent, the state has witnessed a recent spike in aerospace & defense staffing, which could help turn the local economy around.
Indiana Public Media reports despite the unemployment rate being above that of the national average, the labor force in Indiana has increased by 36,000 over the past three months, which is the largest rise in nearly two decades.
"I think we're flat lining right now and given the difficulty with the European Union and the risk to financial collapse, the big decline in the stock market, the best we can hope for until those things are rectified is flat lining," Michael Hicks, an economist at Ball State University, told the news source.
The Hoosier State's aerospace and defense industry could help lead the local economy out of its slump, particularly after one military contractor recently announced plans to spend $5.6 million to expand its operations by building a new facility in Clarksville.
According to The Associated Press, the company is expected to add up to 85 new jobs in the industry over the next three years.