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Daycare Closures, Worker Departures Adding to Child Care Challenges Impacting Workforce

  • Worker departures, capacity limits, and low pay creating challenge in the child care industry
  • High costs, low availability are causing working parents to consider whether to leave the labor force to provide full-time care
  • Biden administration, businesses pursuing options to help workers meet care needs
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Federal Reserve to Begin Finance Company Survey Aimed at Assessing Credit Availability

  • Federal Reserve to begin its Survey of Finance Companies this month
  • Data used to collect information on loans, liabilities, expenses, and incomes, with an added category of questions this year on COVID-19 relief funding
  • Effort seeks to improve Fed’s understanding of credit availability for businesses and households
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NFIB: Small Business Optimism Fades as Labor Challenges Persist

  • NFIB monthly survey shows decline in small business optimism in September
  • Small business owners continue to grapple with challenges in labor supply and quality
  • Respondents were more pessimistic about the economy, but also more likely to expect real sales to increase
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Higher Food Costs and Labor Shortages Expected to Cut Into Restaurant Earnings

  • Shares of publicly traded restaurant chains fall after disappointing earnings report
  • Trend reflects broader challenge in food and beverage industry as restaurants cope with supply and labor challenges
  • Recent survey from the National Restaurant Association shows that nine out of 10 restaurants have experienced recent delays or shortages in key food and beverage items
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Business News Roundup, Oct. 22, 2021

Expectations of more persistent inflation, COVID-19 vaccine mandates in the courts, an increased number of truckers sidelined due to substance abuse issues, a grant for statewide economic development planning, a planned innovation center in Shelton, and the termination of Connecticut…

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Beige Book: Cautious Optimism Among Northeastern Businesses as Economic Headwinds Continue

  • Federal Reserve’s Beige Book report shows continued modest or moderate economic growth as well as cautious optimism
  • Trend appears despite challenges such as labor and supply shortages, wave of COVID-19 infections
  • New England respondents generally mirror national trends, showing steady growth
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Connecticut Job Growth Accelerates in September, Adding 4,700 Jobs

  • Connecticut adds 4,700 new jobs in September, a stronger pace compared to modest jobs gains in August
  • The state’s unemployment rate has fallen to 6.8 percent but remains above the national rate
  • Trade, transportation, and utilities led monthly growth, while leisure and hospitality had the strongest year-over-year growth
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Helping Employees Cope with Remote Work Anxiety

  • While remote work arrangements offer certain benefits to employees, they can also cause stress and anxiety
  • Workers may miss interpersonal interactions, fear that they will be regarded as lazy, or have trouble preventing work from bleeding over into their personal lives
  • Steps leaders can take to help address anxieties in their remote workforce
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Is Your Company Software a Tempting Target for Cybercriminals?

  • Cybersecurity company develops “Temptation Score” to assess how likely individual systems are likely to suffer cyberattacks
  • Score is based on factors such as the criticality of the system and the value of the information a breach is likely to yield
  • Cyberattacks have increased in frequency as hackers exploit companies’ shift toward increasingly digital workflows
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Business News Roundup, Oct. 21, 2021

A rollback in social policy and environmental proposals, a drop in initial jobless claims, and calls for more stringent fraud reviews after the arrest of a Connecticut lawmaker are among the top business news items this morning. National President Joe…

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