The State Street corridor near the Interstate 265 interchange has seen substantial business growth in recent years . Photo by Daniel Suddeath
What was , and will be
A look at the economy in 2020 , and what may be in store for 2021
By Daniel Suddeath
The economy was performing quite well
locally , regionally and nationwide in January .
There were the typical concerns facing the workforce in terms of wage growth , and employers cited worries over finding skilled labor , which has been a consistent issue in Indiana . But as President Donald Trump prepared for his re-election bid , even his opponents had to concede that the strong economy would be a solid card for the incumbent to play .
Then the signs that something was brewing began trickling in as largely international news organizations reported on a new virus that was killing people in China . But through most of February , the coronavirus was considered a threat to those overseas or to people who travel to China .
But by mid-March , it was obvious that the U . S . wouldn ’ t be immune from the impact of COVID-19 . By October , the virus has claimed the lives of over 200,000 Americans , and millions of laborers had suffered through temporary or permanent unemployment .
“ April will be viewed as a time when the region hit a bottom in terms of job losses . Since then , we ’ ve been climbing out of the hole ,” said Uric Dufrene , Sanders Chair in Business as Indiana University Southeast .
So how big was the hole ? The Louisville Metropolitan area , which includes Floyd County and Clark County , saw a year-over-year decline of 31,000 jobs in April .
“ During the Great Recession , the steepest year-over-year
20 November / December 2020