'Really bad year': Prof says IU's woes hurt Bloomington's economy

A difficult time in higher education has prompted job reductions at Indiana University in the last year, which have dragged down the Bloomington economy , a local economist said.

“Folks, the news is rough,” said Phil Powell, executive director of the Indiana Business Research Center at Indiana University’s Kelley School of Business.

The university’s struggles have contributed to falling wages, a lackluster jobs sector and a barely growing Bloomington area economy, he said.