U.S. effectively bankrupt, economist says
Boston University’s Kotlikoff warns the U.S. is actually in worse shape than Greece.
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New jobless claims hit highest level in six months
Initial claims for unemployment benefits have now risen in three of the last four weeks and are close to their high point
for the year of 490,000, reached in late January.
Productivity falls for first time since 2008
Worker productivity declined at an annual rate of 0.9 percent in the April-to-June quarter after posting large gains throughout
2009, the Labor Department said Tuesday.
Hyundai hole in Indiana
The rising Korean industrial giant is building another plant in the U.S., but not in Indiana.
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.
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.
New claims for jobless benefits jump again
Initial requests for jobless benefits rose last week to their highest level since April, a sign that hiring remains weak and
some companies are still cutting workers.
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.
Hoosier firms find cutting costs no substitute for growth
The gains amid economic malaise are impressive, but also unsustainable. Companies can’t continue to grow earnings forever based on cost-cutting.
Auer: Dow 20,000 by 2020
Fund manager says rational thinking suggests the future is actually quite bright.
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.
Driving hard bargains at a big antique mall
Shoppers are demanding price cuts on already-discounted merchandise. And young adults are showing up in droves.
New home sales up nationally, but pace remains slow
The housing market had boomed earlier in the year on the strength of federal tax credits. Since they have expired, the number
of people looking to buy has dropped even with the lowest mortgage rates in decades.
Legislative showdown unavoidable?
With just about all the meat gnawed off the bones, lawmakers might turn on each other in the upcoming General Assembly.
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.
Elevated jobless claims point to weak labor market
The sharp increase comes after claims fell steeply two weeks ago to their lowest level since August 2008. But much of that
drop was driven by temporary seasonal factors and not an improving job market.
Jobless benefits bill would aid 80,000 Hoosiers
A bill advancing in Congress that would restore unemployment benefits for millions of Americans could help about 80,000 Indiana
residents who have been out of work more than six months.
Will Indy homeowners abandon their mortgages?
In other markets, homeowners who can afford their payments are making the ethical and financial calculus to hand the keys
back.
Indiana’s unemployment rate rises slightly
June figure hits 10.1 percent, up a tick from April and May, marking the third straight month Indiana’s unemployment rate
has been in double digits.