businesses | The Ohio Star

Report: Post-Pandemic Remote, Hybrid Work Will Impact Businesses near Offices

March 11, 2024 The Center Square

Remote and hybrid workers will impact more than office vacancy rates, according to an analysis by the Federal Reserve Bank of Kansas City.

The report, “Hybrid Work May Pose Challenge To Bars and Restaurants in Parts of the Tenth Federal Reserve District,” stated hybrid work arrangements and a preference for remote work are here to stay. It quoted research suggesting approximately 30% of working days in 2023 took place at home and office occupancy is down at least 40% compared to pre-pandemic levels.

Commentary: Americans Are Worse Off than Four Years Ago

March 9, 2024 Ohio Star Staff

The State of the Union is not strong. Americans are facing a cost-of-living crisis, high crime, and an unsecured southern border as a direct result of Democrats’ failed policies led by perpetrator-in-chief Joe Biden.

Instead of taking accountability for these pressing national challenges, Biden promised more of the same in his State of the Union address Thursday night.

Full-Time Work Is Being Replaced by Part-Time Jobs as Americans and Businesses Struggle

February 4, 2024February 3, 2024 Ohio Star Staff

Since June 2023, Americans have been increasingly employed in part-time positions, with a subsequent decline in full-time work, according to data from the Bureau of Labor Statistics (BLS).

The number of Americans working part-time in January grew by 96,000 compared to the previous month, while full-time employment sank by 63,000, according to the BLS. The change in the types of employment follows a trend toward part-time employment that has been increasingly exacerbated since June 2023.

Businesses Begin Abandoning ‘Diversity’ Initiatives

November 29, 2023 Ohio Star Staff

Despite a concerted effort by many institutions, government entities, and other left-wing forces to push “diversity, equity, and inclusion” (DEI) initiatives on private businesses, 2023 saw a greater decrease in such measures than previous years.

As reported by the Daily Caller, the total number of businesses with a designated DEI budget dropped to 54% in 2023, down four points from 58% in 2022. In the same period of time, the number of organizations with a DEI strategy declined by 9%. Both of these statistics were compiled by the consulting firm Paradigm.

Health Insurance Costs Expected to Spike at Highest Rate in over a Decade

September 8, 2023September 7, 2023 Ohio Star Staff

Employer health insurance costs are expected to increase significantly in 2024, affecting costs for both workers and businesses as hospital operating costs rise, according to data reported by The Wall Street Journal.

Next year, the costs for health insurance coverage from employers are expected to increase by around 6.5%, which could be the biggest increase in more than a decade, according to survey data acquired by the WSJ. Driving the increase in health insurance costs are inflated labor costs for hospitals and a large demand for expensive new diabetes and obesity drugs, which are being passed down to insurance companies in new contracts with the hospitals.

Survey of Businesses Shows Temp Hiring Hits New High While Full Time Hires Plummet

August 22, 2023 The Center Square

Facing labor shortages and challenges to find new revenue streams, small businesses appear to be hiring mostly temporary workers.

Alignable, a small business networking website, shows temporary hiring hit a new high this summer while full time hires have plummeted.

Southern States Are Booming as Wealth Flees Democrat-Run Northeast

July 9, 2023 Ohio Star Staff

Six states in the south are seeing rapid growth in the share of national gross domestic product (GDP) as people flock to the region, while states in the northeast are faltering, Bloomberg reported.

Florida, North Carolina, South Carolina, Texas, Georgia and Tennessee are in the middle of a $100 billion wealth migration that started during the COVID-19 pandemic as businesses and people moved south, according to Bloomberg. States in the northeast lost approximately $60 billion in 2020 and 2021, falling behind the six southern states in collective GDP for the first time.

Supreme Court Expands Degree to Which Businesses Must Accommodate Religious Workers

July 2, 2023 The Center Square

The U.S. Supreme Court ruled Thursday to expand the degree to which businesses have to accommodate workers for religious purposes.

In the case, Groff v. DeJoy, Postmaster General, the court found that postman Gerald Groff, an evangelical Christian, should not have been disciplined for refusing to work on Sundays for religious reasons. The majority opinion cited Title VII’s requirement to accommodate employees for religious purposes provided it does not cause the employer “undue hardship.”

50-State Report: GOP-Led States Are in Best Economic Condition

April 17, 2023April 16, 2023 The Center Square

A new report ranks all 50 states from best to worst for economic conditions, showing which states have improved, and worsened, in creating an economic climate where businesses want to invest.

The American Legislative Exchange Council released the state analysis, which ranks Utah as the number one state, North Carolina as second, and Arizona as third. Idaho and Oklahoma fill out the top five spots, ranking fourth and fifth, respectively.

Commentary: The Difference Between Non-Profit and Not for Profit Companies

March 27, 2023 Admin

For Ask an Economist this week I have a question from Hal who asks, “What is the difference between a ‘non-profit’ and a ‘not for profit’?”

In order to address this question, I think it’s important to discuss what separates a for-profit business from these two forms of organization.

Record High Employee Turnover Since Pandemic Has Hurt Business Productivity

January 4, 2023January 3, 2023 Ohio Star Staff

Employee turnover has surged since the pandemic, and the need to replace and train new employees at high volume has hampered productivity for businesses, according to The New York Times.

More than 4.5 million workers voluntarily left their jobs in November 2021, the highest since the government began tracking this data 20 years earlier, and the turnover rate remains significantly higher than it was before the pandemic, according to the NYT. Businesses are struggling with the costs of high turnover; new employees take time to become productive, and existing employees lose productivity because of the time they spend training others.

Businesses Add Fewest Jobs in Two Years as Manufacturing Craters

December 1, 2022November 30, 2022 Ohio Star Staff

Private companies added 127,000 jobs in November, missing investor expectations by more than 70,000 to post the worst result since January 2021, according to private payroll firm ADP and CNBC Monday.

The addition represented a sharp decline from the 239,000 new jobs reported by the firm in October. Industries that were most directly impacted by higher interest rates, such as construction, were hit the hardest by job cuts, while consumer-facing industries, such as hospitality, largely weathered the storm, according to ADP.

Commentary: Neither White House nor Common Man Can Evade Recession Data

October 2, 2022October 1, 2022 Ohio Star Staff

Newly released data from the Commerce Department show what some people have been saying for months: The nation is in recession.

Furthermore, the Biden administration’s cherry-picking of data has come back to bite it, with even its selected data points now being revised to indicate a recession. And while these numbers confirm the economy shrank in the first half of the year, the rest of this year holds little promise of recovery.

Businesses Fail to Find Workers, and Experts Say Federal Policies Have Made It Worse

May 14, 2022May 13, 2022 The Center Square

A new labor market survey found that a majority of employers, particularly restaurants, still cannot find enough workers.

The new report from Alignable said that 83% of restaurants can’t find enough workers. Overall, the report found that “63% of all small business employers can’t find the help they need, after a year of an ongoing labor shortage.”

Biden Unveils $5.8 Trillion Budget Proposal with Increased Taxes on Businesses, Wealthy Individuals

March 30, 2022March 29, 2022 The Center Square

President Joe Biden unveiled a new 2023 budget proposal Monday along with major tax increases to help pay for it.

Biden’s budget, which comes in at about $5.8 trillion, is not expected to become law, but presidential budgets help set the legislative priorities for the year to come.

Ohio Employers Not Struggling as Much to Fill Jobs as Rest of Nation

March 6, 2022March 5, 2022 The Center Square

While filling jobs continues to be a source of struggle for businesses across the nation, Ohio employers seem to be dealing with it better than most, according to a recently released study.

A WalletHub report compared all 50 states and the District of Columbia based on the rate of job openings for the latest month and the past 12 months.

“Lots of businesses are struggling to hire enough workers, which has sometimes led to delays in services and reduced business hours,” the report read. “In fact, the labor force participation rate has experienced the slowest recovery of any recession since World War II. Some businesses aren’t even able to keep the employees they already have – as Americans are quitting their jobs at record rates in what’s been dubbed the ‘Great Resignation.’ ”

Ohio Businesses Could Get $25K in Tax Breaks to Train Truck Drivers

February 14, 2022February 13, 2022 The Center Square

The Ohio House has passed a bill that would give employers $25,000 in tax credits to train new drivers in an effort to help companies across the state alleviate a growing truck driving shortage.

House Bill 197, backed by trucking and business organizations, now heads to the Senate. It passed the House, 97-0, this week.

Ohio Attorney General Turns Away Proposed Law to Ban Vaccination Mandates for Second Time

January 11, 2022January 10, 2022 The Center Square

Ohio Attorney General Dave Yost rejected a citizens’ petition on a proposed law that would support vaccine choice and privacy for the second time because it did not contain enough verified signatures.

Yost originally turned down the submission last month. It proposed the Vaccine and Gene Therapy Choice and Anti-Discrimination law that would require the state to protect the privacy and freedom of Ohioans in their ability to refuse vaccinations or gene therapy.

The proposed law would require the state to protect Ohioans’ privacy regarding vaccination choice from vaccine registries and discrimination, provide transparency, reinforce schools must honor vaccine choice and privacy, protect Ohio businesses honoring vaccine choice and provide legal recourse for vaccine choice and privacy violations.

U.S. Retail Sales Increased as States Ended Restrictions

July 17, 2021 Ohio Star Staff

Male checking out on Square program at retail store

U.S. retail sales jumped in June, boosted by states widely loosening coronavirus restrictions and businesses returning to full capacity.

Retail sales increased 0.6% and totaled $621.3 billion in June, according to the Department of Commerce report released Wednesday. The monthly increase was driven by general merchandise, including food service, clothing, personal care, electronics and gasoline sales, the report showed.

“Sectors that were buoyed by the pandemic are slowing down a little bit, but not to a degree that I’d be concerned about,” Square economist Felipe Chacon told The Wall Street Journal. “Household finances have been bolstered by a few rounds of stimulus spending, so it bodes pretty well.”

For Every One New Regulation Created in Washington, D.C., Seven Have Been Rolled Back

July 20, 2020July 19, 2020 Ohio Star Staff

President Donald Trump announced the preliminary results of his administration’s efforts to deregulate the federal government.

Before taking office, Trump pledged to roll back two regulations for every new regulation added in Washington, D.C. However, that ratio has since increased to seven regulations rolled back for every new one created, Trump said.

Lawyers Help Ohio Business Owners Organize Lawsuits Into Class Action to Take on DeWine’s Shutdown Regulations

July 17, 2020October 28, 2020 Jason M. Reynolds

Ohio business owners who are fed up with Gov. Mike DeWine’s ever-lasting shutdown regulations are joining their lawsuits together into a class action against the state.

Three lawyers are working together to help combine existing lawsuits and are looking for other owners whose livelihoods are being threatened by what they say are unconstitutional orders. The suit against the DeWine administration and other government agencies was filed in the Ohio Court of Common Pleas in Lake County.