The vote in favor of a “Brexit” has shocked investors and sent stock markets plummeting around the world. Years of financial uncertainty lay ahead on a global scale as the U.K. and EU find their footing.
While many CEOs are planning for the next fiscal year, a cohort of local executives is planning for the next fiscal downturn. Group members have their eyes on 2019, forecast by some economists to be the year the next economic contraction arrives.
Brad Davis and Paul Estridge Jr. belong to a select fraternity. They’re prominent Indianapolis homebuilders whose companies faltered during the housing downturn, only to re-emerge in another incarnation.
Part-time and contract jobs in the past tended to rise during recessions and recede during recoveries. But maybe no longer: Part-time workers have accounted for more than 10 percent of U.S. job growth since the recession officially ended in June 2009.
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.