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Business News Roundup, June 28, 2021

An infrastructure compromise gets back on track, competing reports on the effect of ending unemployment supplements, increased capital investments by businesses, falling Northeast unemployment, and slow Connecticut economic recovery are among the top business news items this morning.


After President Joe Biden walked back an earlier call to pair a compromise infrastructure bill with a larger Democratic-backed measure, Republican leaders have signaled that they are ready to proceed on the nearly $1 trillion legislation. The bill would invest in improvements in roads, bridges, water systems, and broadband internet.

Business trends

A report in the Wall Street Journal suggests that the unemployment rate is declining faster in states that ended a federal unemployment supplement of $300 a week ahead of schedule. However, a separate report in the New York Times says many companies are still struggling to fill positions as workers seek out higher-paying opportunities.

Businesses have been putting a substantial amount of money into capital investments, chiefly in technology and software. Nonresidential fixed investment has increased at a double-digit pace for the past three quarters and is now above pre-pandemic levels.


Unemployment rates in the Northeast fell substantially in May, with Connecticut’s 0.4-point drop tying with New York for the second largest decrease. Economists have attributed the improvements to the high COVID-19 vaccination rate in the region as well as relaxed business restrictions.

Connecticut’s overall economic growth has been proceeding more slowly. The state’s economy grew at a 6 percent pace in the first quarter of 2021, though this lagged behind the national rate of 6.4 percent and Connecticut ranked 34th among all states for economic growth.

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