From the Manchester College Archives

News Release

Contact: Jeri Kornegay
Director of Media and Public Relations
260-982-5285  jskornegay@manchester.edu

 

Spring brings good things to county

economy, says MC's Harsbarger

 

The Wabash County economy came out of the winter doldrums in the first quarter of 2005 with increases in employment and bank deposits adjusted for inflation, reports Dr. Richard B. Harshbarger, Manchester College professor emeritus of economics. Those increases may provide a stronger economic growth base for 2005, Harshbarger said.

The economic index for the county rose 1 percent since Dec. 31, offsetting the yearly decrease for 2004, he said.

            Employment in the first quarter in Wabash County was at its highest since fall 2004, with a 3.4 percent increase over the same 2004 period, and growth in each of the first three months of 2005, he said. A total of 16,710 Wabash County residents were employed in March 2005, leading to 6.5 percent unemployment – and halting what was becoming a trend of 2.5 percent declines the past two years.

            “For the first time in 15 months, bank deposits (adjusted for inflation) in the county saw an increase,” Harshbarger said.  The deposits rose $10 million, to $610,865,000 in March. 

Harshbarger noted little or no change in industrial electricity demand and housing construction in the start of 2005.  Weather tended to constrain housing construction, with only 10 permits  issued in the first quarter of 2005. 

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