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Just a little input...the unemployment rate in the state is climbing steadily. While, in recent years, the area that I live in has held steady and has been fairly low (~4%), the state has recently climbed to 8.2% (up over 1% in a month!). Local factories have all done layoffs, with the most recent being CAT. The Lafayette and surrounding area are largely based on industrial manufacturing, and all of those markets are being hit by the poor state of our economy. Wabash National, the largest tractor trailer manufacturer in the midwest, recently did a large layoff, as have several of the smaller companies. White collar positions are being affected, too. My mother works in the medical billing industry, and she and her coworkers were told this week there would be no raises this year - instead, they must take a 5% paycut to keep their jobs. We have had a local lumber company close this month because of the downturn in the housing market (less new construction). I expect if you are in the market to buy a house, this would be a good time to do so, as prices on homes will likely soon be dropping, but if you haven't got steady employment in this market, I can't say I would advise making that kind of an investment. New jobs in many markets will be hard (or nearly impossible) to come by for quite some time, and if you are lucky enough to beat out all those folks who have been laid off by snagging one of the few positions available, you will still be in a tenuous position, should the economy take another dive...just my opinion, but unless you work in a guaranteed market, now might not be the best time to be looking to make a major move to somewhere that the unemployment rate is likely to keep climbing.
As for schools, like gdude says...it all depends on where you are...inner city Indy and West Lafayette schools would be at total opposite ends of the spectrum - and you can find everything in between here. Although, some of the best universities in the country are in Indiana - so it also depends on what you mean by "school."
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