Hicks Discusses Current Economic Picture

Posted: Updated:

The director of Ball State University's Center for Business and Economic Research says the latest national jobs figures show the United States economy has completed nine full years of expansion. Economist Michael Hicks says the labor force grew by more than 600,000 in June, which caused the unemployment rate to rise slightly to 4.0 percent.

Hicks says U.S. Bureau of Labor Statistics numbers indicate that 220,000 jobs were added last month and totals from the previous two months were also revised upward by 35,000 jobs. He characterized wage growth over the last year as "tepid."

Despite the second-longest period of economic expansion in U.S. history, Hicks says minutes released by the Federal Reserve illustrate a "cautionary tale" for where the economy could be headed. He says it reports a dip in industrial production in April and May and adds the agriculture and other commodities markets are showing negative effects of a potential trade war. July 6 is the official start of trade tariffs imposed on China through action by President Donald Trump and Hicks anticipates more economic effects will be felt by year's end as retaliatory measures are taken by foreign trade partners. Hicks concludes by saying "extending tariffs to more products will likely increase the risk of ending this expansion."

  • Perspectives

    • Three Ways to Stand Out In a Competitive Hospitality Market

      For many business leaders in the Indianapolis area, it can be difficult to differentiate your brand from competitors. Indianapolis is booming, and we're in an era where consumers have access to countless choices! That's why it's more important than ever for brands to provide consumers with compelling reasons to spend their hard-earned money on their product or services.



Company Name:
Confirm Email:
INside Edge
Morning Briefing
BigWigs & New Gigs
Life Sciences Indiana
Indiana Connections


  • Most Popular Stories

    • Walmart Details Crawfordsville Layoffs

      Walmart Inc. (NYSE: WMT) is reducing workforce at the Walmart Optical Lab in Crawfordsville. In a notice to the state, the company said 108 employees will be out of work by the end of September. A corporate spokeswoman told Inside INdiana Business the decision was a response to "changing business needs." She added "we are making adjustments at our Walmart Optical Labs in Crawfordsville to help ensure we have the right people in the right place at the right time."

    • 'Best And Worst-Run' Ranks Hoosier Cities

      Three Indiana cities are included in WalletHub's list of the "2018 Best- And Worst-Run Cities in America." The list compares 150 of the most populated cities across several categories, including financial stability, education, and economy. 

    • Brown County Aims to 'Buck' Rural Flight

      The Maple Leaf Performing Arts Center isn't the only big ticket project making progress in Nashville. Town Manager Scott Rudd says some $40 million in projects designed to the boost the quality of life for locals and visitors alike are in the works in the tourism-focused community. The owners of Big Woods and Quaff On breweries are just days away from the grand opening of the multi-million-dollar Hard Truth Hills attraction in Brown County, which covers 325 acres and includes...

    • Officials broke ground on the project more than two years ago.

      Steel Producer to Open Shelbyville Plant

      Governor Eric Holcomb will Wednesday join executives from Nippon Steel & Sumikin Cold Heading Wire Indiana Inc. to cut the ribbon on the company's 150,000-square-foot facility in Shelbyville. The $50 million project is expected to create up to 70 jobs by 2021.

    • Tech Apprenticeship Company Scores $4.2M

      Kenzie Academy Inc., a technology industry apprenticeship program that has its first campus in Indianapolis, has received a $4.2 million seed round of funding. The company uses what it calls a "college-alternative" model that involves a year of immersive learning and a year of paid work at its consulting subsidiary, Kenzie Studio. Kenzie Academy says the investment, led by New York-based ReThink Education and supported by...