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1981 1982
Amount Amount
Sales
Net sales $1,578,555 $1,623,800
Total direct costs 825,998 881,515
Gross margin 752,557 742,285
Total operating expenses 806,927 773,758
Operating income (loss) (54,370) (31,473)
Other income 59,310 27,678
Net income (loss) 4,940 (3,795)
The 1979-82 recession resulted in the loss of population and
jobs in the Lake County area. For the years 1980, 1981, and
1982, the unemployment rates were 14.3 percent, 11.8 percent, and
16.09 percent, respectively. The Lake County unemployment rate
remained above 10 percent until 1987. In 1982, the Lake County
unemployment rate was more than 40 percent above the unemployment
rate for the State of Indiana. Per capita personal income
increased in the Lake County area every year except 1982, though
it declined relative to the rest of the State.
Lake County's population peaked at 551,100 in 1971. By
1982, the county had lost 36,800 persons or 6.7 percent of its
population. By 1987, there was an additional shrinkage of
27,700. The population of Lake County has represented a smaller
percentage of the State's population every year since 1965.
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