inflation

The new year will bring an automatic pay increase to minimum wage workers in Michigan, and it may not be the final minimum wage boost of 2024. Michigan’s new minimum wage increases from $10.10 an hour to $10.33 an hour —with smaller boosts for tipped workers, minors and new employees during a 90-day training period.

Food pantries are seeing more demand from first-time clients, especially in Elkhart County

The Michigan Supreme Court has agreed to hear a major case involving changes to the minimum wage and sick leave, and the power of lawmakers to interfere with the results of petition drives. The court’s decision could put more money in the pockets of low-wage workers, especially in the restaurant industry.

Hoosier shoppers can expect to pay about 14 percent more when shopping for Thanksgiving dinner this year than in 2021.

The federal government reported that the inflation rate for housing spiked to its highest rate since 1982 from September 2021-22. The U.S. Bureau of Labor Statistics says the inflation rate for the broad category of “shelter” is now 6.6%. Experts say that’s reflected in Michigan's major housing markets.

Due to avian flu, around 7 million turkeys have been killed nationwide. Indiana accounts for roughly 500,000 of that number.

Some companies are still expanding operations and hiring in Indiana despite the current tight labor market and warning signs of an economic downturn. E-commerce packing and shipping company Radial is one example.

Indiana’s unemployment rate has remained below 3 percent for 12 straight months despite rising inflation, interest rates and layoffs.

Federal efforts to bring down inflation may be starting to cool Indiana’s labor market, bringing more layoffs and fewer job openings. But the market still remains tight overall.

“You’re seeing year over year seller gains drop in Lansing(-7.8%), in Kalamazoo (-7.2%)and in Ann Arbor (-6.1%) at rates that are similar to what we’re seeing nationally,” said Rick Sharga, executive vice president of market intelligence at ATTOM.