I attended college there (3 degrees

) and then lived there afterwards in the 80s-90s. Part of that time I commuted to a job Indianapolis, as many people in Bloomington and Martinsville do.
The old adage was that you need a master's degree to wait tables in Bloomington. The quality of life there is so much greater than most of Indiana that people just don't want to leave. Hence, the job market is indeed tight.
The largest employer in Bloomington is the university.
Good luck. Its a really cool place to live.