Economic Recovery and Jobs in the Seventh District
Last Updated: 09/12/84
The states of the Seventh Federal Reserve District (Illinois, Indiana, Iowa, Michigan, and Wisconsin) suffered employment losses of over five percent (683,000 jobs) during the economic downturn of 1981-82. This compares with a three percent national decline. During the short but sharp recession of 1980, District states' employment fell by three and one-half percent compared with one percent nationally. Between these recessions the 1980-81 national recovery never materialized in the Seventh District; Indiana alone recorded an employment increase during this period.The Seventh District endured, in effect, a single long and deep recession over the years 1980 to 1982.