Wednesday’s business headlines
INDIANAPOLIS (WISH) – Here’s a look at Wednesday’s business headlines.
Across the U.S., rents are higher than their pre-pandemic path.
Since January, rents have gained 11.4% while some of that growth reflects a bounce-back in prices that tumbled earlier in the pandemic, according to Apartment List.
The average rent in Indianapolis has reached $1,155 for a one-bedroom apartment and $1,335 for a two-bedroom, according to Apartment List.
Walmart, the largest U.S. private employer, said Tuesday it will invest $1 billion over the next five years to cover the cost of college tuition and books for its U.S. employees.
Starting on Aug. 16, the retailer will drop its $1 a day fee for Walmart and Sam’s Club associates who are part of the company’s Live Better U Education program.
Overall, the program will help 1.5 million associates earn a college degree of trade skill without facing that burden of debt.
Gen X workers were hit hardest by the jobs crisis amid COVID-19.
Generation X is the term typically used for people born between 1965 and 1980, preceded by the baby boomers.
While employment concerns for those 45 and over existed before the pandemic, COVID-19 worsened them, making it harder to gain employment and keep it, the study found.
Fifty percent of midcareer Americans seeking work said COVID-19 had a major effect on their employment.
Fed Watchers expect that the spreading coronavirus Delta variant will make the central bank more cautious on outlook when it emerges from its two-day meeting Wednesday.
Investors were nervous about inflation but the Delta variant could slow things down if it becomes more widespread.
No interest rate change is expected out of Wednesday’s meeting.