State Unveils Job Growth ProjectionsPosted: Updated:
The Indiana Department of Workforce Development has compiled data that projects the state will add more than 336,000 jobs by 2022. The department says nearly one-third of those jobs will come from the manufacturing, retail trade and health care sectors. November 6, 2014
INDIANAPOLIS, Ind. - According to data compiled by the Indiana Department of Workforce Development, (DWD), the Hoosier State will grow approximately 336,640 new jobs by 2022. This number signifies an employment growth rate of 11.86 percent during that period.
Based on these projections, the bulk of the growth will come from the Manufacturing, Retail Trade, and Healthcare Sectors, which will account for nearly one-third of the projected growth. The Hoosier State will also need to replace 665,953 workers who are retiring and to account for normal job market turnover. This constitutes a total need of roughly 1,002,593 employees over the next decade.
"Since day one, our administration has worked to increase collaboration between employers and educators in order to ensure Hoosiers have the skills they need to succeed in the workforce of today and of the future," said Governor Mike Pence. "These projections compiled by the Department of Workforce Development underscore the critical nature of this effort as employers in our state prepare to hire more than one million employees in the next ten years. I am confident that because of our focus on workforce preparedness and skills training Indiana will have all of the tools needed to meet this demand."
How Does Indiana's Projected Rate of Growth by 2022 Compare With Similar States?
North Dakota 12.76 percent
Indiana 11.86 percent
Kentucky 11.59 percent
Iowa 11.22 percent
Nebraska 9.54 percent
Missouri 8.6 percent
Illinois 8.3 percent
Ohio 8.27 percent
Wisconsin 7.14 percent
South Dakota 7.04 percent
Minnesota 7.03 percent
U.S. Average 11.3 percent
The information compiled and utilized by the DWD Research and Analysis group to make these projections was derived from the U.S. Department of Labor’s Bureau of Labor Statistics’ Occupational Employment Estimates (OES) and Quarterly Census of Employment and Wage (QCEW) data. For more Hoosier employment and economic information, visit DWD’s Hoosiers by the Numbers website, http://www.hoosierdata.in.gov/.
USDOL sources for these projections are located at http://www.projectionscentral.com/Projections/AboutLT and http://www.projectionscentral.com/Projections/AboutST.
Source: Indiana Economic Development Corp.