Indiana Business Pulse
South Bend–Mishawaka economic snapshot
The indicators behind hiring, pricing, and borrowing decisions in the South Bend area, drawn from federal labor, price, and lending data and updated as each release is published.
Unemployment rate
3.8%
up 0.1 points from May 2026
as of June 2026National
4.1%
as of July 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
3.8%
down 1.2 points from May 2026
as of June 2026National3.5%as of June 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 July 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
148,524
up 552 from May 2026
as of June 2026Unemployed6,311as of June 2026
People employed and people actively seeking work in this area — the labor pool available to local employers.
New business formations
Indiana8,386
up 134 from May 2026
as of June 2026Likely to hire2,324as of June 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 South Bend–Mishawaka
The unemployment rate in South Bend–Mishawaka was 3.8% in June 2026, up 0.1 points from May 2026. That compares with 4.1% nationally in July 2026.
Consumer prices across the Midwest rose 3.8% over the year to June 2026, down 1.2 points from May 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 July 2026.
148,524 people were employed in South Bend–Mishawaka in June 2026, up 552 from May 2026. Alongside them, 6,311 people were actively seeking work.
8,386 applications for a new employer identification number were filed across Indiana in June 2026, up 134 from May 2026, a leading indicator of new business starts.
All indicators at a glance
| Indicator | Latest | Period | Change | Comparison |
|---|---|---|---|---|
| Unemployment rate | 3.8% | up 0.1 points from May 2026 | National: 4.1% | |
| Inflation | 3.8% | down 1.2 points from May 2026 | National: 3.5% | |
| Bank prime lending rate | 6.75% | unchanged | — | |
| Local hiring pool | 148,524 | up 552 from May 2026 | Unemployed: 6,311 | |
| New business formations(Indiana) | 8,386 | up 134 from May 2026 | Likely to hire: 2,324 |
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