US economy sending mixed signals: Here’s what it all means
Here’s a closer look at the economy’s vital signs at a perplexing time of high interest rates, still-punishing inflation and surprisingly strong economic gains.
Employment
Articles
High-skilled visa holders at risk of deportation amid tech layoffs
Many of the tech firms that lobbied for more temporary visas for high-skilled immigrants are now firing these workers, leaving them with 60 days to find a new job or leave the country.
Four-day workweek trial: Shorter hours, happier employees
A trial of a four-day workweek, billed as the world’s largest, has found that an overwhelming majority of the 61 companies that participated from June to December will keep going with the shorter hours.
Doctors ask lawmakers to free them from noncompete agreements
The Legislature is considering a bill that put Indiana on a list of more than a dozen other states that expressly prohibit or sharply limit non-compete agreements for physicians and other patient-care professionals.
U.S. adds surprisingly strong 517,000 jobs despite Fed hikes
January’s job growth far exceeded December’s 260,000 total and extended a streak of powerful hiring gains that raised concerns at the Federal Reserve about inflation pressures.
Job openings spiked in December to high not seen since summer
Despite the rising layoffs, the economy added 223,000 jobs in December, according to a different government report, reflecting the complex forces that seem to be pulling the labor market in competing directions.
U.S. labor data surprise as job market runs hotter than forecast
Private payrolls increased 235,000 last month, led by small- and medium-sized businesses, according to data from ADP Research Institute in collaboration with Stanford Digital Economy Lab. The figure exceeded all but one forecast in a Bloomberg survey of economists.
U.S. job openings still high in sign of economic resilience
The high number of vacancies suggest the Fed will continue raising its benchmark interest rate at its coming meetings to quell inflation. Those higher rates will also raise the cost of mortgages, auto loans and other consumer and business borrowing.
Perry Township eliminates school choice for elementary students
The Perry Township school board voted on Monday to end school choice for elementary students effective next school year to help alleviate a severe bus driver shortage, despite significant opposition from parents.
Workers have high hopes for pay hikes next year—perhaps too high
While the labor market remains tight, evidenced by last month’s better-than-expected increases in both jobs and wages, employers are gaining back some leverage just in time for the tough conversations between bosses and employees to begin.
U.S. monthly job openings dip to still-high level
The Federal Reserve is closely monitoring the figures on job openings and quits for signals about the strength of the job market.
The great mismatch: Remote jobs in demand, but positions drying up
The scaling back of remote-work policies is among the first and most visible signs of a changing job market.
U.S. economy headed for slowdown, investment strategist says
Speaking at an IBJ economic forecast event Monday, a Fifth Third Bank economist said the chance of heading into another recession is “literally a toss-up, a coin flip.”
Elon Musk beginning mass layoffs at Twitter
Musk is expected to proceed with plans to lay off about 50 percent of Twitter’s staff, according to people familiar with the matter.
Used-car dealer Byrider cutting 43 employees at its Carmel HQ
The list of employees being eliminated includes personnel in management, finance, facilities, recruitment, marketing, technology and strategy.
Another month of solid hiring suggests more big Fed hikes
America’s employers slowed their hiring in September but still added a solid number of jobs, likely keeping the Federal Reserve on pace to keep raising interest rates aggressively to fight persistently high inflation.
Slower U.S. job gains in August could aid Fed’s inflation fight
The smaller August gain will likely be welcomed by the Federal Reserve, which is rapidly raising interest rates to try to cool hiring and wage growth.
State high court sides with Archdiocese in firing of gay Cathedral High teacher
The Indiana Supreme Court found the church-autonomy doctrine prohibits the state from interfering in the Catholic Church’s dispute with a high school teacher who claimed he was fired for being in a same-sex marriage.
Job vacancies rise after 3 months of declines, dashing Fed hopes for cooling
The increase that the government reported Tuesday will be a disappointment for Federal Reserve officials, who are seeking to cool hiring by raising short-term interest rates to try to slow borrowing and spending, which tend to fuel inflation.
Help wanted: Positions still unfilled as legal aid struggles to find attorneys
Legal aid agencies across the state are struggling to find and hire attorneys to fill full-time staff positions. Providers speculate that lower bar passage rates and high demand for lawyers across the legal profession have created a supply issue.