South Bend and Elkhart forecast 2024

In 2023, the labor markets in the South Bend-Mishawaka and Elkhart-Goshen MSAs exhibited a modest degree of loosening. The size of the labor force either remained stable or experienced a decline in regions marked by higher unemployment rates. Despite an uptick in wage rates in both areas, overall la...

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Bibliographic Details
Published in:Indiana business review 2023-12, Vol.98 (4), p.1-11
Main Author: Zhuang, Hong
Format: Article
Language:English
Subjects:
Economic conditions
Economic forecasts
Employment
Households
Housing prices
Interest rates
Manufacturing
Unemployment
Online Access:Get full text
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Summary:In 2023, the labor markets in the South Bend-Mishawaka and Elkhart-Goshen MSAs exhibited a modest degree of loosening. The size of the labor force either remained stable or experienced a decline in regions marked by higher unemployment rates. Despite an uptick in wage rates in both areas, overall labor costs were mitigated by a reduction in working hours. Within the context of these dynamics, housing prices in St. Joseph County continued their upward trajectory, even as new single-family home construction and sales of existing homes experienced a notable decline.
ISSN:0019-6541