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.
The state's labor landscape changed, and the housing market improved. Indianapolis basked in the glow of a flawless Super Bowl, and big-name CEOs were shown the door. IBJ's reporters and editors recall the year's biggest stories.
Shoppers were buffeted this year by a string of events that made them less likely to spend. The numbers also show how Washington’s current budget impasse is trickling down to Main Street and unsettling consumers.
House Speaker John Boehner scrapped a vote on his so-called “Plan B” on Thursday night after it became clear that it did not have enough support in the Republican-led House to secure passage.
Exports increased, consumers spent more and state and local governments added to growth for the first time in three years. But the economy is likely slowing in the current quarter.
The Labor Department’s report Friday offered a mixed picture of the economy. Hiring remained steady during November in the face of looming tax increases. But the jobless rate slipped in part because more people stopped looking for work.
If you get buy all 364 items repeated throughout “The Twelve Days of Christmas” carol, you’ll pay 6.1 percent more this year, according to the so-called Christmas Price Index that PNC Wealth Management updates annually.
Indiana added 7,700 private-sector jobs in October, marking the largest monthly gain since May, as the unemployment rate fell for the second straight month.
A new study says the state’s 69 public airports support more than 69,000 jobs–about 30 percent of which are tied to Indianapolis International Airport.
The Indiana Business Research Center attributes the predicted slowdown during the next 30 years to an increasing number of baby boomers entering retirement and a cresting of the decades-long rise in female labor force participation.
A northwestern Indiana casino is blaming the economy and increased competition for its decision to lay off about 80 workers.
The number of people seeking unemployment benefits fell last week by 8,000, but the figures were distorted by Superstorm Sandy. The four-week average of applications, a less volatile measure, rose by 3,250.
The Dow Jones industrial average plummeted as much as 369 points, or 2.8 percent, in the first two hours of trading. It recovered steadily in the afternoon, but slid into the close and ended down 313, its biggest point drop since this time last year.
President Barack Obama will face voters with the highest unemployment rate of any incumbent since Franklin Roosevelt.
The economy in 2013 is likely to mirror the slow-growing one of this year, economists from Indiana University’s Kelley School of Business predicted Thursday morning. And it could be even worse.
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 grew at a slightly faster 2-percent annual rate from July through September, buoyed by more spending by consumers and the government. Still, growth remains historically anemic, and exports and business spending are weakening.
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.
Unemployment benefit applications are a proxy for layoffs. When they consistently drop below 375,000, it suggests that hiring is strong enough to lower the unemployment rate.
