Indiana Business Pulse
Kokomo economic snapshot
The indicators behind hiring, pricing, and borrowing decisions in the Kokomo area, drawn from federal labor, price, and lending data and updated as each release is published.
Unemployment rate
4.9%
down 0.1 points from June 2026
as of July 2026 · overdueNational
4.1%
as of August 2026
12-month trend
The share of the local labor force actively seeking work. A lower rate means a tighter labor market and stronger competition for qualified staff.
Inflation
3.6%
up 0.1 points from July 2026
as of August 2026National3.4%as of August 2026
The year-over-year change in consumer prices across the Midwest. No Indiana-specific index is published, so this is the closest official measure.
Bank prime lending rate
6.75%
unchanged
as of August 2026The benchmark most small-business loans and lines of credit are priced against. Borrowers typically pay prime plus a margin set by the lender.
Local hiring pool
33,789
up 138 from June 2026
as of July 2026 · overdueUnemployed1,733as of July 2026 · overdue
People employed and people actively seeking work in this area — the labor pool available to local employers.
New business formations
Indiana8,363
down 2,279 from July 2026
as of August 2026Likely to hire2,325as of August 2026
Applications for a new employer identification number filed across Indiana, a leading indicator of business starts. The Census Bureau publishes this series at state level only.
What the numbers say about Kokomo
The unemployment rate in Kokomo was 4.9% in July 2026, down 0.1 points from June 2026. That compares with 4.1% nationally in August 2026.
Consumer prices across the Midwest rose 3.6% over the year to August 2026, up 0.1 points from July 2026. No Indiana-specific price index is published, so the Midwest region is the closest official measure available to businesses here.
The bank prime lending rate — the benchmark most small-business loans and lines of credit are priced against — stood at 6.75% in August 2026.
33,789 people were employed in Kokomo in July 2026, up 138 from June 2026. Alongside them, 1,733 people were actively seeking work.
8,363 applications for a new employer identification number were filed across Indiana in August 2026, down 2,279 from July 2026, a leading indicator of new business starts.
All indicators at a glance
| Indicator | Latest | Period | Change | Comparison |
|---|---|---|---|---|
| Unemployment rate | 4.9% | down 0.1 points from June 2026 | National: 4.1% | |
| Inflation | 3.6% | up 0.1 points from July 2026 | National: 3.4% | |
| Bank prime lending rate | 6.75% | unchanged | — | |
| Local hiring pool | 33,789 | up 138 from June 2026 | Unemployed: 1,733 | |
| New business formations(Indiana) | 8,363 | down 2,279 from July 2026 | Likely to hire: 2,325 |
Looking for funding rather than figures? Browse grants and funding open to Indiana businesses, or find Black-owned businesses across Indiana.