Monday’s business headlines
INDIANAPOLIS (WISH) — Here’s a look at Monday’s business headlines with Jane King.
Economists warn of potential recession
Experts fear a recession is nearly unavoidable after the Friday release of federal data showing inflation at a 40-year high.
Economists and investors alike are increasingly concerned that the fed will fail to engineer a “soft landing,” despite assurances from Biden and others that the U.S. economy remains strong.
AAA: National gas price average over $5/gallon
On Sunday, AAA pegged the national average at $5.01 for a gallon of gasoline. The average price is 19 cents higher than it was a week ago, 60 cents higher than a month ago, and just about $2 more than the $3.07 average a year ago, according to AAA.
GasBuddy says there’s a high likelihood it will continue to climb.
AAA says the current average in central Indiana is $5.22 a gallon.
More adults 65 and over entering workforce
More older adults are working.
According to experts from MagnifyMoney says a rising share of adults 65 and older are working.
There’s much more competition among businesses for workers, leading to sign-on bonuses, better benefits and more choices for job seekers.
Indiana had the 11th fastest growth in older Americans working at over 13%.
SpaceX-operated internet system used to help Ukrainians stay connected to western countries
A top U.S. general says the Starlink internet service has helped Ukrainians stay connected to the west.
Ukrainian soldiers have reportedly used the SpaceX-operated internet system to coordinate military action as well as to stay in touch with their families, despite Russia’s efforts to sever communications.
Starlink has also helped Ukrainian President, Volodymyr Zelenskyy, to communicate directly with his countrymen despite heavy Russian bombardments targeting infrastructure.
Southwest Airlines closing reservation centers
Southwest Airlines will close its reservations centers to go fully remote.
The shift is effective Sept. 1, Southwest said, though the airline added that most reservations agents have been working remotely throughout the pandemic.