Economic Outlook from Harrison County

Harrison County Indiana chamber of commerce economic development logoThe team enjoyed traveling to Harrison County, Indiana this week to attend the 2nd Annual Labor Day Economic Outlook hosted by the Harrison County Chamber of Commerce and the Harrison County Economic Development Corporation.

The key note speaker was Dr. Uric Dufrene, Professor of Business Administration and the Sanders Chair in Business at Indiana University Southeast.

Dr. Dufrene noted that while we’ll see continued slow economic growth, he does not anticipate that we’ll experience another recession. And that even in the current down economy there are still opportunities for innovators and entrepreneurs.

He also indicated that while we can expect job gains, they will come at a slower pace.

As for the manufacturing sector, Dufrene anticipated pent up consumer demand would help reduce inventories and lead to increased production, and a gradual reduction in unemployment. And, he had positive news to report about Southern Indiana’s labor market, in particular — that it was experiencing an increasing employment rate and a declining unemployment rate. That means people are getting jobs as opposed to leaving the workforce entirely.

Dr. Dufrene also emphasized how we are all connected. He said that while it is great to take pride in our individual communities and counties, when it comes to economics we are not insulated, but rather we are part of a larger regional economy – a regional economy that is inherently connected to our national economy.

We couldn’t agree more, Dr. Dufrene. Thanks to Harrison County for a great event. Have a wonderful Labor Day weekend everyone!