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Buffeted by Delta Variant, U.S. Economy Adds Just 235,000 Jobs in August

  • U.S. economy adds 235,000 jobs in August against 720,000 forecasted
  • Leisure and hospitality hiring, which had been leading job growth this year, abruptly falters amid rising COVID-19 cases
  • Hiring strongest in professional and business services as well as transportation and warehousing
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Can Your Business Manage Greater Flexibility With Employee Scheduling?

  • Flexibility in how employees work has become a key issue during the COVID-19 pandemic
  • Employees can gain a competitive edge by offering more flexibility in where employees are allowed to work and how they structure their workday and work weeks
  • Hybrid schedules, flex time, unlimited paid time off, and more
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Business Surveys Point to Vaccine Mandates, Worker Uncertainty, Reduced Travel

  • New York Times analysis of recent surveys looks at business and employee plans for short-term and post-pandemic strategies
  • Majority of businesses considering vaccine mandates and reducing business travel
  • A significant share of employees is considering whether to change jobs in the next six months
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Connecticut Sees Drop in Small Business Before Start of COVID-19 Pandemic, SBA Data Shows

  • SBA Office of Advocacy issues state-by-state breakdown of small business economy
  • Small businesses account for nearly all companies in Connecticut and employ almost half of all workers in the state
  • Small business jobs were declining in the lead-up to the COVID-19 pandemic, falling by 11,251 between March 2019 and March 2020
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Business News Roundup, Sept. 3, 2021

A drop in jobless claims, a hearing on improving PPP forgiveness processes, complications in enforcing COVID-19 vaccine mandates, looser job requirements, a missed deadline for a major Connecticut project, and a penalty schedule for New Haven businesses that don't enforce…

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Six Connecticut Manufacturers Receive Additive Manufacturing Grants

  • Six Connecticut manufacturers receive $100,000 each to support their operations with additive manufacturing
  • Recipients will provide funds at least equal to the award
  • Additive manufacturing allows companies to craft high-quality components and parts, allowing for greater efficiency and savings
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CFPB Rule Looks to Increase Transparency on Small Business Lending

  • Consumer Financial Protection Bureau announces proposed rule for financial institutions to disclose small business lending data
  • Disclosures would include a broad range of information, including how much credit entrepreneurs seek and how much is extended
  • Banks and business groups are pushing back against the proposal, saying it will create a burden for lenders
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SBA Administrator Encourages Small Businesses to Tap Into Billions of Dollars of COVID Relief Funds Still Available

  • In interview with Yahoo, SBA Administrator Isabella Casillas Guzman says billions of dollars is still available in the COVID EIDL program
  • Several other COVID-19 relief programs have closed, but the Shuttered Venue Operators Grant program is rolling out supplemental grants and reconsidering denials
  • Guzman also encouraged PPP borrowers to seek forgiveness, as less than half of borrowers with smaller loans have done so
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Think Your Business is Too Big to Be a Small Business? You May Still Qualify

  • Small businesses are typically defined as having 500 or fewer employees
  • The definition means that larger companies may be eligible for more financial options and other assistance than they might expect
  • U.S. Small Business Administration programs could have a greater impact on economic recovery if more larger companies begin to use them
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