More students are staying in Indiana after graduating, which may be a reason for a drop in unemployment, a Ball State economist said.
Michael Hicks, director of Ball State’s Center for Business and Economic Research, released a report saying Indiana is recovering from the recession better than the national job market.
The state unemployment rate dropped from 8.4 percent in July to 7.5 percent in October, in part to the growth in the manufacturing industry. The growth is one reason students might be inclined to remain in Indiana after graduating.
“College graduates are usually not rushing toward manufacturing,” Hicks said. “However as manufacturing recovers, more opportunities open in other sectors. There is a stronger demand for school teachers, emerging media, bankers and other programs that Ball State offers.”
Another possible explanation, he said, is the state may be outperforming the nation in job growth.
“Indiana went from being in the middle of the road in business in 2004 to being in the top half dozen on every measure of business,” Hicks said.
Based on the job field, differences in state restrictions also may influence a student’s decision to stick around.
Elizabeth Schaefer, a senior math education major, said she plans on graduate school in Indiana. Afterward, she may join the state’s workforce.
During a series of events across Indiana in December, the Center for Business and Economic Research will release a full report on Indiana’s economic outlook for 2013 as well as a forecast for 2014.
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