2/3 Torchbearer Weekly Policy Update
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- Indiana’s unemployment rates rise slightly
- Indiana's NAEP results show slight improvement
- Trump's tariff effects loom large
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- Important Dates
Indiana's unemployment rate rises slightly
Indiana’s unemployment rate rose to 4.5% in December, marking a consistent upward trend since April.
Why it matters: Rising unemployment could impact local economic stability and increase demand for job support services.
- The state added 2,100 private sector jobs last month, primarily in education, health services, and financial activities.
By the numbers: Indiana’s labor force participation rose to 63.5%, surpassing the national rate of 62.5%.
- The state had 84,578 job openings as of December 27, with 24,631 unemployment claims filed by December 28.
The big picture: Indiana's unemployment rate is now higher than the national average, which decreased to 4.1%. This discrepancy may influence policy decisions and economic forecasts moving forward. (Inside Indiana Business)
Indiana's NAEP results show slight improvement
Indiana students fared slightly better on the National Assessment of Educational Progress (NAEP) in 2024 compared to 2022, as the state continues its gradual recovery from pandemic-related educational disruptions.
Why it matters: The improvement in scores is a positive sign, but highlights the ongoing challenge of addressing learning gaps that widened during the pandemic.
- Indiana's performance remains above national averages but still lags behind pre-pandemic levels.
- The disparity between high and low achievers underscores the importance of targeted educational strategies to support all students.
By the numbers: The percentage of fourth graders proficient in reading rose to 34%, and eighth graders to 33%, marking a slight increase from 2022.
- In math, 43% of fourth graders and 31% of eighth graders scored proficient or better.
- Indiana's Black fourth graders saw a notable rise in reading scores, surpassing their 2019 performance.
The big picture: The state has invested in aligning early literacy instruction with evidence-based practices, which could play a role in these gains.
- Legislative focus may soon shift to enhancing math instruction, with potential bills targeting teacher preparation and student interventions.
- These efforts are part of a broader commitment to improve educational outcomes and address disparities across demographic groups. (Chalkbeat Indiana)
Trump's tariff effects loom large
Tomorrow is Feb. 1 — the day President Trump plans to impose tariffs on imports from North America and China.
Why it matters: These tariffs could spark trade wars, affecting economies across North America.
- Trump aims to leverage tariffs for broader political goals, including border control and drug trafficking.
- Mexico and Canada are already responding by tightening border measures.
The intrigue: Economic policymakers are in a state of uncertainty. Bank of Canada's Tiff Macklem is closely monitoring developments.
- Canada has cut interest rates to mitigate potential economic fallout.
- Mexico's central bank is cautious about future rate cuts due to inflation risks.
What to watch: The tariffs' implementation could trigger extensive economic repercussions.
- CEOs have expressed concerns over 100 times in earnings calls this year.
The bottom line: The situation remains fluid, with potential for sudden changes despite any trade deals, as noted by TD Bank strategist Robert Both. (Axios)
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Important Dates:
Monday, February 17th - House and Senate Committee Report Deadline
Wednesday, February 19th - House and Senate Second Reading Deadline
Thursday, February 20th - House and Senate Third Reading Deadline
February 24th - 28th - Crossover Break (no session)
Thursday, April 10th - House and Senate Committee Report Deadline
Monday, April 14th - House and Senate Second Reading Deadline
Tuesday, April 15th - House and Senate Third Reading Deadline
April 16th - April 24th - Conference Committees
Thursday, April 24th - Anticipated Sine Die
Tuesday, April 29th - Sine Die