Indianapolis banker sees progress, challenges at ailing Integra
Mike Alley, perhaps more than any other banker in the state, is experiencing the pain the economic crisis has wrought on the nation’s financial institutions.
Recession
Articles
Jobless claims fall sharply to 4-month low
The U.S. Labor Department said Wednesday that initial claims for jobless aid dropped by 24,000, to a seasonally adjusted 435,000. Many Wall Street economists expected a smaller decrease.
September consumer spending weakens while incomes dip
Americans slowed their spending in September to the weakest pace in three months and their incomes fell for the first time in 14 months.
U.S. economy grew anemically in third quarter
The government reported Friday morning that the economy expanded at a 2-percent annual rate in the July-September quarter. It marked a slight improvement from the feeble 1.7-percent growth in the April-June quarter.
Orders for capital goods fall as business spending cools
The report raises the risk that business investment, which had been contributing to a rebound from the worst recession in generations, will decelerate in coming months, underscoring the Federal Reserve’s concern that growth is too slow.
Strategist: U.S. economy picking up pace, slowly
The economy is picking up its pace but not quickly enough to satisfy the public, Fifth Third Bank strategist John Augustine said Friday. It may not return to pre-recession levels until 2017.
New unemployment claims fall to lowest in 2 months
Still, the economy is barely growing and hiring is slow. Businesses and other private employers added a net total of 67,000 jobs in August, the Labor Department said.
National unemployment rate back on the rise
Overall, the economy lost 54,000 jobs as 114,000 temporary census positions came to an end. State and local governments shed 10,000 positions. The jobless rate rose to 9.6 percent from 9.5 percent in July.
New jobless claims drop for first time in 4 weeks
However, about 10.1 million people were receiving unemployment checks in the week ended Aug. 7, the latest data available.
That’s up about 260,000 from the previous week.
Indiana, Indy stage small employment gains
Indiana’s unemployment rate increased by a sliver, to 10.2 percent, in July despite increases in jobs in many industries.
Counties brace for big tax losses next year
Indiana counties will receive $1.3 billion in income tax revenue in 2011, nearly 16 percent less than they did this year.
Marion and Hamilton counties will suffer major reductions in distributions.
Daniels: Stimulus should focus on companies, not states
Indiana Gov. Mitch Daniels said he opposes more stimulus such as aid to states to keep teachers hired and to expand credit
to small business, while favoring incentives to revive private hiring and investment.
Stocks retreat after disappointing jobs report
The disappointing jobs data magnifies worries that slowing growth could end up leading the country back into recession during
the second half of the year.
Consumer spending, personal incomes stagnant
Personal spending was unchanged in June, the Commerce Department reported Tuesday. It was the third straight month of lackluster
consumer demand. Incomes were also flat, the weakest showing in nine months.
Economic growth likely slowed in second quarter
Economists expect the government to report Friday that economic growth slowed in the April-to-June quarter as consumers bought
less, builders pulled back further, and cash-hungry state and local governments cut spending.
Consumer confidence index retreats further
Economists watch the Consumer Confidence index closely because consumer spending accounts for about 70 percent of U.S. economic
activity and is critical to a strong recovery.
Obama signs unemployment bill; checks are coming
President Barack Obama on Thursday signed into law a restoration of benefits for people who have been out of work for six
months or more. The move ended an interruption that cut off payments averaging about $300 a week to 2½ million people
who have been unable to find work in the aftermath of the nation's long and deep recession.
Challenging job market trips up new attorneys
It’s a tough time to be starting in the profession when established lawyers struggle to keep up their practices and
client lists.
Pearson ad agency closing after more than three decades
CEO Ron Pearson attributed the decision to the difficult economic conditions. The firm was hit particularly
hard in 2007, when it lost a $20 million HHGregg advertising account.
Americans spend more in May, see incomes rise
Americans spent a little more in May but not enough to speed along the economic recovery.