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Market Report

Indianapolis Market Report

4Q 2020

Labor Market Recovery in Indianapolis Eclipsing National Average; Builders and Investors Remain Active in the Metro

Accelerated recovery of jobs underpins market stability. Prior to the health crisis Indianapolis had an unemployment rate of 2.7 percent, which was the metro’s lowest recorded rate dating back to the early 2000s. In March and April roughly 131,000 jobs were shed as nonessential businesses were forced to close; however, the summer reopening fueled a quick bounce back. Nearly 70 percent of the jobs lost in those two months have been recovered and the unemployment rate has moved down from 13.8 percent in April to 5.5 percent in September. More challenges are ahead, though, particularly for the leisure and hospitality sector. Rising COVID-19 cases could lead to greater capacity restrictions, forcing more shops to reduce staff while outdoor spaces are closed for the winter.
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