Experts say it is a sign our economy is performing poorly and part of a long-term trend of weak job growth.
INDIANAPOLIS — Around 92,000 jobs were lost in February, a contrast from what experts predicted would be an increase of 50,000 jobs.
Kyle Anderson, a Kelley School of Business economist, said it is a sign our economy is performing poorly and part of a long-term trend of weak job growth. He said some factors could be uncertainty regarding tariffs and companies considering using AI technology instead of hiring workers.
Ursurla Shelton, who owns Shear Elegance Day Spa in Broad Ripple, said the shipping costs for her products doubled — forcing her to raise prices for clients.
“I’ll say, this is what has happened, now this product is this price now,” Shelton said. “They understand but they’re like, ‘OK.’ So, it’s challenging, because they might, I don’t have that right now.”
Felicia Grady owns Plate It Up! Catering and said increased gas prices make it more expensive to transport meals to clients. As food gets more expensive, she also needs to raise prices — making it harder to book clients.
“You just have to think about the money that you spend as an individual on your day-to-day basis,” Grady said. “But I’m a caterer, so, my service is to cater to you and what you want and to deliver and to serve it.”
Anderson said 100,000-200,000 jobs are typically added per month in a healthy economy.
“It’s not good,” Anderson said. “We want to see that positive job growth. We really need to. We need to be adding jobs to kind of hold the unemployment rate steady.”
If you have noticed higher prices at the gas pump, there is a reason. Anderson said they are related to the conflict in Iran, which also increases transportation costs. As those costs rise, it could also increase prices for many goods — especially those that are imported and traveling long distances.
“Because transportation is a big part of it, the prices of a lot of goods are going to go up in a way that, you know, you may not be able to directly relate, but are because of oil and gas prices,” Anderson said.
