Sometimes the worst part of the economic forecasting I do is the sinking feeling that my predictions will be right.
Past its own New Year's deadline, a weary Congress sent President Barack Obama legislation to avoid a national "fiscal cliff" of middle class tax increases and spending cuts late Tuesday night in the culmination of a struggle that strained America's divided government to the limit.
Defying decades of investment history, ordinary Americans spooked by the Great Recession have been selling more stocks than they’ve been buying. The selling has not let up despite unprecedented measures by the Federal Reserve to persuade people to buy and the come-hither allure of a levitating market.
Researchers find that the recession had a particularly profound effect on the political attitudes of younger millennials, who’ve come of age as the adults who preceded them have lost homes, jobs and retirement funds. Their age group also faces high unemployment.
The U.S. economy is expected to grow next year at a less-than-ideal rate, but that's not necessarily a bad thing considering the lingering uncertainty, said John Augustine, chief investment strategist of Fifth Third Bank.
Federal Reserve Chairman Ben Bernanke told a local lunch crowd that he expects the economy to keep growing, but he said the growth is so slow that it could create a "permanent group" of underemployed Americans.
Recovery in manufacturing—one of Indiana’s best-paying employment sectors—has been a much celebrated change after years of decline. But many of those jobs are returning with lower wages as employers keep up with growing global competition.
Lynn Kimmel, president of Lockhart Automotive Group, is helping her family business recover from losing three Saturn dealerships and a Hummer dealership when General Motors Corp. folded both those lines.
After the financial crisis of 2008, foundations in Indiana and across the country set up special relief funds for their communities. Ongoing support for the one formed in Indianapolis is just one sign of how the poor economy is still influencing grant-makers’ decisions.
Trinity Free Clinic in Carmel began in 2000 to serve a growing Hispanic immigrant population. Since the latest recession, so many people—including unemployed professionals—have found their way to the clinic that the portion of white patients has grown from one-third in 2008 to 47 percent last year.
As the national economy sputters, the Indianapolis area is losing jobs faster than its peers, falling to levels not seen since 2002.
With reluctance, Mike Alley, a veteran Indianapolis banker, joined the board of Evansville-based Integra Bank in April 2009. A month later, he found himself CEO—the beginning of a 26-month odyssey that ended July 29 with banking regulators seizing and shutting down the 160-year-old institution.
Funding for the state’s work-force-development agencies to help Hoosiers develop job skills has fallen sharply, even as unemployment remains high and the economy is still shaky.
Hiring picked up slightly in July and the unemployment rate dipped to 9.1 percent, an optimistic sign after the worst day on Wall Street in nearly three years.
Indiana regional banks and national institutions are faring better, a possible indication that Indianapolis’ economy isn’t recovering as quickly as expected.
The economy expanded at a meager 1.3-percent annual rate in the spring after scarcely growing at all in the first three months of the year, the Commerce Department said Friday. The combined growth for the first six months of the year was the weakest since the recession ended two years ago.