Indiana's manufacturing industry has seen its recovery stall, and experts predict things will get worse as many of the state's largest companies feel the effects the European financial crisis and slowing growth in China.
The U.S. Bureau of Labor Statistics reports the state lost an estimated 1,400 manufacturing jobs in September.
That's been followed by several layoff announcements that suggest the final quarter of the year could see steeper declines, the Indianapolis Business Journal reported.
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"We're going off a cliff," said Michael Hicks, director of the Center for Business and Economic Research at Ball State University. "The question is, do we go off like Thelma and Louise, or do we go off with a rope and belay team?"
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Manufacturers saw employment jump by 4,300 jobs in April as the industry regained about half the jobs it lost during the recession. The number of jobs is hovering around 486,000, up from a low of 425,700 in June 2009 during the recession.
But in the past six months, companies including Columbus engine maker Cummins and Evansville's Accuride Corp. have announce layoffs.
The Indiana Department of Workforce Development reports companies across the state have notified it of plans to eliminate more than 3,900 jobs through layoffs, one-third of them in manufacturing. Most of those layoffs will be done by the end of the year.
Read More: journalgazette.net
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