Business

Wednesday’s business headlines

INDIANAPOLIS (WISH) — Here’s a look at Wednesday’s business headlines.

Retirement

Americans say it’s increasingly unlikely that they’ll work well into their 60’s, according to new data from the New York Federal Reserve.

The share of respondents expecting to work past the age of 62 dropped to 50.1% in the New York Fed’s July labor market survey – the lowest on record in a study that’s been conducted since 2014.

More than 1 million older workers have left the labor market since March 2020. Some Americans have been rethinking their priorities after the trauma of COVID-19 – with a bigger nest egg to fall back on, thanks to a rising stock market. The withdrawal may be involuntary, driven by a lack of employment prospects.

Cummins

Cummins has pushed back plans to fully reopen offices as COVID-19 cases surge across the country, including in Columbus.

Cummins officials said the company has pushed back its return-to-office date until early next year but will continue with a voluntary pilot program for vaccinated employees at its corporate office in downtown Columbus.

Econ club

The Economic Club of Indiana will Wednesday kick off its new season of speakers designed to further discussion of social and economic issues.

The organization is returning to its tradition of hosting in-person luncheons in downtown Indianapolis after going virtual last year due to the pandemic.

The first luncheon will feature journalist and author Clarence Page. Other speakers this season include Sen. Todd Young and Eli Lilly CEO Dave Ricks.

Kroger

Shares of Kroger jumped to an all-time high last week after a rival posted strong results.

Sometimes if a rival does well, that is good for the entire industry.

Kroger reports earnings Friday.

Kroger shares have surged over 45% so far this year.

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