While Hamilton County transitions away from “bedroom” community status in 2025, Carmel has been past that job growth point for some time. By 2030 that difference is projected to be close to 20,000 more jobs than employed residents (while both statistics grow). Carmel’s job growth by percentage since 2013 outpaces Hamilton County and Central Indiana. The math behind local workforce and commuters is intriguing and I am excited to dive in.Carmel is an economic engine for Central Indiana and Hamilton County. According to Lightcast, Carmel (46033/46032 zip codes) has 66,650 jobs in 2024, an increase of 13.3% since 2018. This compares to approximately 58,000 employed residents. Carmel’s residents are highly educated, with the City previously stating over 80% of working adults possess a bachelor’s degree or higher education attainment (county-wide is 61%). Since 2018 there have been 122,302 open positions posted by 7,018 competing employers within Carmel. 28% of those positions require a bachelor’s degree or higher education.
Remote work is prevalent within Carmel, with 21% of workers in 46032 and 20% of workers in 46033 working entirely remote in 2022, according to the American Community Survey.
Carmel’s residents are a regional workforce, with a mean commute time of approximately 24 minutes for those traveling by car to work. The 46032 zip code is the second largest exporter of talent (by zip code) in Central Indiana with 31,119 workers commuting out in 2023 for work. It is also the second largest zip code by employment in Central Indiana with 55,957 jobs. By comparison 46033 is the third largest net exporter of workers in Central Indiana with 11,430 more resident workers than jobs. It is important to point out that 46032 independently brings in more net commuters than every other zip code in Hamilton County combined and possesses about twice as many jobs as the next highest employment hub in the County (Noblesville’s 46060 zip code, 27,650 2023 jobs).
Even assuming (generously) that half of 46033 resident workers work in 46032 (I am one of them), Carmel’s workforce is very regional in nature for residents and employers. With a conservative estimate of around 40,000 workers commuting out of city for work and 9,858 remote workers that leaves approximately 8,000-12,000 (Carmel) residents who fill local positions.
The jobs that make a place great often cannot be filled by people who can afford to live in great places. Carmel has officially become much bigger than just the people who live there