LISTEN: Dr. Mike Hicks from the Center For Business & Economic Research at Ball St., on the falling unemployment rate:
My time is not spent exclusively with people for whom I mark out, i.e. pro wrestlers, entertainers, composers of “Convoy”, etc. My regular job is as a news reporter and host of the Saturday morning interview show “Weekend Indiana” on Indy radio station WIBC-FM. That means I have the privilege of talking to a lot of people about a plethora of subjects, a few of which will be sampled today.
Dr. Hicks, for the longest time, was considered a virtual Dr. No among some in our business. Example: “The unemployment rate is down, but Ball State economist Mike Hicks says the economy is still stankier than a chicken house”, would be a typical lead sentence for a news story. That’s an exaggeration, as Hicks simply does a fantastic job of delving into the minutiae of a jobs or any other economic report. Yes, in case you didn’t know, an unemployment rate means almost nothing in the grand scheme of things, regardless of what politicians tell you.
In two years of talking to him, I don’t recall Hicks ever being so upbeat about a jobs report, though according to the initial numbers, he had good reason to be so. If the numbers hold up, Indiana will have created 12.5% of all new jobs created in the entire country for the month of November.