Longest shutdown in history costing economy about $15B each week, analysts say
Now in its 36th day, the shutdown has surpassed the previous record set in early 2019 during President Donald Trump’s first term.
Economy
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AI has the nation’s largest employers putting their workers on notice
Walmart CEO Doug McMillon warned at a company event in September that AI is set “to change literally every job” and that his workers would have to adapt.
US inflation stays elevated but prices rose less than feared last month
The data for Friday’s report was gathered before Oct. 1, but price data for October isn’t being gathered due to the government shutdown, and the Trump administration suggested Friday that an inflation report won’t be released next month.
Trump says he’s ending trade talks with Canada over TV ad
The post late Thursday comes after Canadian Prime Minister Mark Carney said he aims to double his country’s exports to countries outside the U.S. because of the threat posed by Trump’s tariffs.
Trump’s immigration crackdown weighs heavy on the US labor market
Immigrants do jobs—cleaning houses, picking tomatoes, painting fences—that most native-born Americans won’t, and for less money.
To hit back at US in their trade war, China borrows from America’s playbook
When President Trump launched his trade war with China shortly after he returned to the White House, Beijing readily deployed its new tools in addition to raising tariffs to match those imposed by the U.S.
Americans increasingly worried about ability to find good jobs, poll finds
Some 47% of U.S. adults are “not very” or “not at all confident” they could find a good job if they wanted to, an increase from 37% when the question was last asked in October 2023.
Shutdown impact: What it means for workers, federal programs and the economy
The shutdown began Oct. 1.
IMF upgrades US growth outlook as tariffs cause less disruption than expected
While the U.S. and world economies have fared better than expected, it’s too soon to say they are fully in the clear, the IMF said.
Two industries were supposed to drive America’s future. One is booming, the other slumping.
Both fields have been in the spotlight in Washington through successive administrations, but appear to be heading in different directions.
Regions Bank economist sees more growth ahead
Regions Bank’s chief economist, in a visit to Indianapolis, said the metro area has been performing better economically than much of the country, in part because of the area’s diversified economy.
US job openings hold steady, with few layoffs and weak hiring
Another report showed consumer confidence fell in September to a five-month low on concerns about a cooling labor market and the broader economy.
Trump to announce drug-pricing deal with Pfizer, new ‘TrumpRx’ website
The announcements are part of an effort to secure “Most Favored Nation” pricing deals with pharmaceutical manufacturers, an effort to link U.S. drug prices to the lowest cost of drugs paid by the wealthiest countries.
Government shutdown draws closer as congressional leaders head to the White House
White House aides, ahead of the meeting, made it clear the Republican administration had no intention to negotiate.
Fed’s favored inflation gauge accelerates slightly
The increases in the Commerce Department’s personal consumption expenditures, or PCE, price index were what forecasters had expected.
Economy expanded at faster-than-expected pace in 2nd quarter
U.S. gross domestic product—the nation’s output of goods and services—rebounded strongly in the spring from a 0.6% first-quarter drop.
Pierre M. Atlas: Trump inflates impact of tariffs, misstates costs
Every dollar of revenue added to U.S. coffers via tariffs is a dollar spent by an American employer or an American consumer.
‘Power Up’ initiative seeks to boost employee upskilling efforts
Using $10 million appropriated by the Legislature, the state’s Office of Commerce says it will provide grants to employers to offer training with the goal of building skills to match the needs of their open positions.
Retail sales jump from July to August at better-than-expected pace
So far, shoppers haven’t felt the big sting that some economists predicted earlier in the year as many retailers ordered goods ahead of tariffs.
Upcoming events underscore the value of region’s creative economy
The Indiana Creative Economy Summit is scheduled for Oct. 13-14 at the Fishers Art Center. A music-themed partner event, the NIVA Live Policy Summit hosted by the National Independent Venue Association, is scheduled Oct. 15-16 at Fountain Square’s Hi-Fi venue.