Business Update – October 23 2024
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy.
Will the US economy keep up the pace in the fourth quarter?
Economic momentum is projected to slow in the fourth quarter, but economists expect consumers will provide enough power to fuel growth through the year’s end.
Boeing workers to vote next week on a new proposal that could end strike
Boeing and the union representing striking machinists have negotiated a new contract proposal that would provide bigger pay raises and bonuses in a bid to end a costly walkout that has crippled production of airplanes for more than a month. The International Association of Machinists and Aerospace Workers said early Saturday that it plans to hold a ratification vote on Wednesday.
US economy is partying, but voters are hungover
With less than a month to go before the U.S. elections, the American economy is in arguably in the best shape it has been prior to any presidential contest in recent history. Unemployment is at a more than two decade low. Gasoline prices aren’t as high as it may seem. Even inflation looks better.
Nearly 80% of women and minority U.S. business owners anticipate revenue growth in the coming year
Majority of women and minority business owners surveyed plan to expand their businesses over the next 12 months. This is according to the 2024 Bank of America Women & Minority Business Owner Spotlight, published in partnership with Bank of America Institute.
Majority of Americans feel worse off now than 4 years ago
A new Gallup poll reveals that more than half of Americans feel worse off financially than they did four years ago. The survey, released on Oct. 18, found that 52 percent of U.S. adults believe their financial situation has deteriorated since 2020, while 39 percent feel they are better off.
Half of employees dread coming into the office amid the 2024 political environment
Elections are always a tense time for employees in the workplace. With both sides of the political spectrum presenting heated opinions and drawing personal lines in the sand, there’s a growing sense of division and sensitivity. Many employers are noticing a rise in incivility that’s undermining team productivity and morale.
Boeing strike, Hurricane Helene weigh on US industrial production
U.S. industrial production fell in September, weighed down by a strike at Boeing and two hurricanes, including Helene.
The new e-commerce innovation imperative for retailers
Technology is disrupting every aspect of the e-commerce shopping journey and fundamentally altering consumer behavior. But the benefits for retailers have accrued unevenly so far. A recent survey by BCG and World Retail Congress revealed that 60% of retail innovation leaders are prioritizing investments in e-commerce.
Home rent prices rise in September
Rents across the United States increased last month, continuing to remain at highs well above the pre-COVID-19 pandemic period, according to real estate brokerage Redfin.
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