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Department of Labor Announces Available Funding for Registered Apprenticeships in Non-Traditional Industries

  • Department of Labor announces funding opportunity for “industry intermediaries” to help develop registered apprenticeships
  • Effort is concentrated on businesses that have been hard-hit by COVID-19 and haven’t traditionally used apprenticeships
  • Applicants have until Oct. 18 to submit their proposal
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Business News Roundup, Sept. 14, 2021

A major business group seeking clarification on mandates, slowing inflation, ongoing gas price increases, the effect of mass transit concerns on return-to-office plans, the potential for a digital vaccine passport system in Connecticut, and a report suggesting slow economic recovery…

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Just Over Half of Connecticut Businesses Support COVID-19 Vaccine Mandates in Recent CBIA Poll

  • 52 percent of Connecticut businesses support COVID-19 vaccine mandates in an August poll from the Connecticut Business & Industry Association
  • The survey was issued before President Joe Biden’s recent proposal to mandate vaccinations for workers in companies with 100 or more employees
  • Support for vaccine mandates has grown as a fourth wave of COVID-19 slows economic growth
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Study Finds That Lenders Participating in PPP Were Willing to Take On More Risk in Other Loans

  • Study suggests that lenders participating in the Paycheck Protection Program were more likely to take on greater risks outside the program
  • Low-risk, low-yield framework of the program may have spurred lenders to seek greater profits through other loan products
  • Researchers also concluded that timelier loss recognition may constrain risk-taking incentives
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Are Resume Bots Keeping You From Connecting With Potential Job Candidates?

  • Study estimates that 27 million people in the United States can be classified as “hidden workers,” or qualified job candidates who are screened out by AI
  • Systems might exclude candidates due to factors such as long-term unemployment or lacking non-essential skills
  • Researchers recommend that companies update AI and job descriptions for better matches with qualified appliants
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Business News Roundup, Sept. 13, 2021

A proposed corporate tax increase, dimmed hopes for a $3.5 trillion social and environmental bill, mixed business reaction to those proposals, calls for new COVID-19 relief, restaurant uncertainty, and a blow to Connecticut's agricultural industry are among the top business…

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In Critique of Recent Abortion Decision, Lamont Invites Companies to Relocate to Connecticut to Show Support for Women’s Rights

  • Governor Ned Lamont releases brief video message inviting businesses in states with strict abortion laws to consider relocating to Connecticut
  • Message takes direct aim at a restrictive new law in Texas, which the U.S. Supreme Court recently opted not to block
  • The bulk of the message seeks to highlight benefits available to workers with families
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Fed’s Beige Book Attributes Summer Economic Slowdown to Delta, Ongoing Supply and Labor Issues

  • Federal Reserve’s Beige Book shows moderating economic growth in July and August as the Delta variant drove a pullback in some consumer behaviors
  • Supply and labor constraints, along with inflation, were also posing ongoing challenges for businesses
  • The New England region experienced healthy economic growth, although its commercial real estate market remained uncertain
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House Committee Advances $25 Billion in Small Business Initiatives for Inclusion in Build Back Better Act

  • House Small Business Committee approves $25 billion in initiatives to be included in the $3.5 trillion Build Back Better Act
  • Measures aim to help small businesses recover from COVID-19 and succeed in the future
  • Major investments include direct loan programs, business incubators
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Hurricane Ida Disaster Assistance Available to Fairfield County Businesses

  • Fairfield County included in recent disaster declaration related to the remnants of Hurricane Ida
  • Storm caused severe flooding in several areas due to substantial rainfall
  • Businesses can qualify for SBA assistance to address physical damages or economic losses
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