Weekly Digest – January 17 2024

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy.

Why the U.S. may extend its run as the world’s leading economy

The U.S., China and India may take turns leading the global economy this century, according to an analysis from the Centre for Economics and Business Research.

US economy starting to look ‘more like the 1970s,’ JPMorgan Chase’s Jamie Dimon says

Despite a generally optimistic outlook for the U.S. markets in the new year, the head of one of the country’s biggest banks is seemingly not convinced the Federal Reserve can achieve a soft landing as a result of their most aggressive rate hike campaign since the 1980s.

US small business sentiment up, but labor, inflation worries persist

U.S. small business sentiment rose for the first time in five months in December, a survey published on Tuesday showed, but hiring costs and ongoing concerns around inflation continue to sour business owners’ confidence.

Navigating tomorrow’s market: e-Commerce trends and projections for 2024

Dani Nadel believes e-commerce growth will be more significant in 2024, and will be realized mid-year as economic strains continue to shape consumer behavior for months ahead. Several additional factors will, together, set the stage for disruption and reshape the commerce landscape.

Employee or Independent Contractor? A Guide to the New Rule

The U.S. Department of Labor has published a final rule, Employee or Independent Contractor Classification Under the Fair Labor Standards Act, to provide guidance on whether a worker is an employee or independent contractor under the FLSA.

At least five states are considering requiring full minimum wages for tip earners this year

Only seven states currently bar “subminimum” pay for tipped workers like bartenders and restaurant servers, but activists see 2024 as ripe to expand the tally to as many as 20.

Inflation ticked up to 3.4% in December thanks in part to outsized housing costs

As price growth continues to moderate, consumers are still adapting to a new normal. Inflation climbed from 3.1% to 3.4% in December, a sign the Federal Reserve will continue to have to wrestle consumer price growth down to its desired 2% level.

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