Monday’s business headlines
INDIANAPOLIS (WISH) – Here’s a look at Monday’s business headlines.
A Brookings Institute study, titled “State of Renewal: Charting a New Course for Indiana’s Economic Growth and Inclusion,” suggests a mixed bag for the state’s economic future.
While the report finds the state has performed well in terms of pandemic job recovery, it suggests slow wage growth, lack of advanced industry competitiveness and under investment in technology were among the issues the Brookings Institute highlighted as hurdles for the state’s economy and labor force moving forward.
The average median earnings per worker reached $34,300 in Indiana, while the amount was $36,600 nationwide.
IRS and Ebay
Starting in 2022, online sellers who use platforms like Ebay and Etsy – and make more than $600 – will have to report their income to the IRS.
These platforms will have to send both you and the IRS a form reporting your earnings that you’ll have to submit when you file your taxes.
Previously, you only have to report your income from online sales to the IRS if you made more than $20,000 over 200 transactions.
But thanks to a provision in the stimulus checks bill, the federal threshold will drop in 2022.
A new survey found the cost of a sitter went up 5% over the pandemic.
The national average rate for in-person babysitting has jumped to $18.36 an hour for one child, which is a 3.5% increase over 2020, according to Urbansitter’s 10th annual child care rates survey.
A recent study the Center for American Progress found the cost of child care in Indiana is up 17 to 70% depending on the age of the child and location of the child care.
The Dow and S&P 500 closed at records Friday as investments look past signs of higher inflation in the U.S. and China.
For the week, the Dow gained 2%, the S&P tacked on 2.7% and the NASDAQ advanced 3%.