Indiana Economy Report From Ball State

The latest Hoosier job report indicates the economy is growing at a slow rate. That, from Ball State economist Michael Hicks who says the latest figures may have met expectations, but downward revisions in the March report indicates the American economy is sluggish. The unemployment rate dipped to 5.4 percent, a seven-year low, from 5.5 percent. The March job numbers make it likely that gross domestic product in the first quarter will be revised downward, moving into negative growth for the first three months of the year. Hicks says business services and health-care jobs saw the largest increase for the month. Construction saw a boost of 45,000 jobs. Transportation , tourism, and retail saw modest gains. Employment in manufacturing was essentially flat.