Hicks Discusses Current Economic Picture

Posted: Updated:
Ball State Economist Mike Hicks thinks economy is decelerating rapidly. Ball State Economist Mike Hicks thinks economy is decelerating rapidly.
MUNCIE -

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

    • Creating the Work Spaces that Draw Talent to Indianapolis

      The future economy will be driven by data, powered by robotics and heavily invested in the building blocks of nature – biotech and genetic engineering. That’s true of the economy nationwide, and it’s especially true here in Indianapolis, where dominant pharmaceutical and biotech companies are putting us at the cutting edge of the science-based economy. It all sounds larger than life. But the facilities that will house these industries will always be...

    More

Subscribe

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

Events



  • Most Popular Stories

    • Money magazine judges Fishers as 3rd best place to live in the U.S.

      Fishers Makes Top 10 List of 'Best Places to Live'

      Three communities in Indiana made the top 100 list of best places to live in the country, but only one made the top 10. Fishers was judged by Money magazine as the third best place to live in the United States, behind Clarksville, Tennessee and Round Rock, Texas.

    • Elizabeth Head is the head of school at ISI.

      International School Launches Capital Campaign

      The International School of Indiana has publicly launched a capital campaign to establish a unified campus in Indianapolis. As part of the ONE ISI campaign, the school is looking to raise $6.5 million to build a new school building for pre-elementary and elementary students at the site of its middle and high schools. The public launch follows a 10-month silent phase of the campaign, during which ISI raised $5 million from more than two dozen donors. Currently, ISI's operations are...

    • School District Raises Questions About ILEARN

      Like all schools in Indiana, we were disheartened at the ILEARN results for school year 2018. We would like to raise several questions concerning this test as it relates to college and career readiness for our students. The annual Indiana Statewide Assessment (this year’s ILEARN) has been developed to evaluate college and career readiness at all levels tested. We are very troubled by our lack of understanding of what indicators in the test evaluate...

    • (image courtesy of BHI Senior Living)

      Officials to Break Ground on Senior Community

      An Indianapolis-based developer of senior living communities is breaking ground Wednesday on a $20 million expansion project of its Hoosier Village. BHI Senior Living executives, along with Zionsville city leaders, will toss a ceremonial shovel of dirt on the addition of the existing 300-acre campus.

    • Photo courtesy of Bristol Parks

      Startup Plans to Add 250 Jobs By 2021

      A metal forming startup is seeking to use a facility in Bristol that has been empty since 2017 for a major manufacturing operation. The Elkhart Truth reports Brinco will invest $52 million in the project and add 250 jobs.