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Retail Association Expresses Optimism as Holiday Season Approaches

  • National Retail Federation says retail sales have been steadily improving since the start of the COVID-19 pandemic
  • Holiday spending forecast not yet available, but recent survey suggests that the average person will spend slightly less money this year
  • NRF voices support for additional federal stimulus, saying it can help keep the economy on track as COVID-19 cases rise
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Business Openings Ramp Up in Connecticut During COVID-19

  • More businesses open during COVID-19 pandemic than during same period in 2019
  • Entrepreneurs take advantage of certain opportunities or go into business for themselves out of necessity
  • Some put business plans on hold, while others adapt them to current reality
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PPP Assistance Drives Greater Banking Satisfaction Among Small Businesses

  • Small businesses report greater satisfaction with banks this year in J.D. Power survey
  • Administration of Paycheck Protection Program and dedicated account managers help drive positive view of banks
  • Larger enterprises show greater satisfaction, while smaller ones are more uncertain about their economic outlook
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McConnell Expects Stimulus Work in Early 2021, Pelosi and Trump Hope for Lame Duck Bill

  • Senate Majority Leader Mitch McConnell says he believes further economic stimulus will be necessary but that it won’t be approved until early next year
  • House Majority Leader Nancy Pelosi and President Donald Trump voice preferences for stimulus in lame duck period
  • Election results may influence what actions Congress takes before the end of the year
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Fed Eases Terms on Main Street Lending Program to Encourage Small Business Loans

  • Federal Reserve reduces minimum loan size and adjusts fees for its Main Street Lending Program
  • Paycheck Protection Program loans may also be excluded when lenders determine loan size
  • Fed program has $600 billion capacity but has loaned just $3.7 billion
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Connecticut Rolls Back Reopening to “Phase 2.1;” Restrictions Return to Some Businesses

  • Connecticut will return to a modified version of Phase 2 reopening rules starting Friday
  • Rules limit capacities and set 9:30 p.m. curfew on restaurants and entertainment venues
  • Announcement aligns with similar restrictions announced in Massachusetts
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How to Find the Right Candidate Quickly When Remote Hiring

  • Companies have turned to digital methods for hiring and onboarding new employees during the COVID-19 pandemic
  • Hiring the wrong person can be a considerable blow to your bottom line as well as your company’s productivity
  • Tips for making the right call when bringing on talent
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Columbia-Class Submarines Could Double Electric Boat Workforce Within Five Years, General Dynamics CEO Predicts

  • On recent conference call, General Dynamics CEO Phebe Novakovic says Electric Boat’s workforce could double in size in the near future due to Columbia-class submarine development
  • Democratic sweep on Election Day could spur more critical look at defense spending, but submarines are unlikely to be on the chopping block
  • Virginia-class submarine building could also ramp up under Defense Secretary proposal
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Lamont Considers Rolling Back Connecticut Reopening as COVID-19 Cases Spike

  • Connecticut’s COVID-19 positivity rate reaches 6.1 percent, the highest since June
  • Governor Ned Lamont reluctant to return state to Phase 2 of reopening rules, but urges communities with high infection rates to do so voluntarily
  • New executive order authorizes about 70 percent of Connecticut cities and towns to take this option
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Governor Lamont Releases Statewide Strategic Plan on Connecticut Workforce Development

  • Governor’s Workforce Council releases strategic plan on how Connecticut’s workforce development efforts can address current needs and adapt to the future
  • Recommendations include skills-based pilot hiring initiatives, talent retention organizations, and better access to child care and transportation
  • Special focus on manufacturing, IT, health care, and life sciences
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