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Business News Roundup, July 1, 2021

Severe drought conditions, falling jobless claims, employer incentives, small business crowdfunding, and Connecticut's baby bonds are among the top business news items this morning. National Nearly 10 percent of the United States is experiencing severe drought, with 44 percent in…

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Study: Governance, Worker Treatment Play a Role in Companies’ COVID-19 Layoff Decisions

  • Researchers look at the factors influencing whether a business decided to retain or cut staff during the early months of the COVID-19 pandemic
  • Companies with better financial flexibility were less likely to implement layoffs, but factors such as governance and worker treatment also played a role in decision-making
  • Study suggests that taking steps to retain talented workers during crises can be a valuable strategy for businesses
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How Companies Can Meet the Needs of Single Parents

  • COVID-19 pandemic proves stressful for working parents, especially solo caregivers
  • Tips on how employers can accommodate single parents and keep them from experiencing burnout
  • Flexible scheduling options, encouraging breaks and time off, child care assistance, and more
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DOL Announces Grants to Assist Reemployment of Workers Displaced by COVID-19

  • Department of Labor announces $43 million in grants for recipients to assist with the reemployment of workers displaced by the COVID-19 pandemic
  • Funding can go toward staff-assisted career services or technology improvements for career service platforms
  • Program focuses on historically marginalized communities or groups as well as long-term unemployed
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U.S. Chamber Poll: Hiring Bonuses Have Greatest Impact in Encouraging People to Return to Work

  • U.S. Chamber of Commerce polls Americans who lost their jobs during the COVID-19 pandemic to see which incentives would spur them to return to the labor market
  • While no incentive proved an encouragement to the majority of respondents, hiring bonuses had the greatest impact
  • Flexible work arrangements, higher salaries, and vaccine requirements also have a substantial impact on encouraging a return to work
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Business News Roundup, June 30, 2021

A potential executive order targeting big business, a hearing in Congress on small business concerns, a private payroll report, and expanding technological use in restaurants are among the top business news items this morning. National President Joe Biden is reportedly…

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Report: Post-Pandemic Startup Surge is Ongoing, Reflects Economic Restructuring

  • Surge in startup formations that began in 2020 has continued through the spring of 2021, economist’s report finds
  • Bulk of new business formation has been concentrated in 10 industries
  • Non-store retail sees particularly strong growth as COVID-19 pandemic accelerates shift to e-commerce
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$10,000 Grants and Mentorship Opportunities Available Through Stacy’s Rise Project

  • Stacy’s Pita Chips seeks to replicate the mentorship and monetary support it received that helped catapult the company to success
  • Stacy’s Rise Project offering $10,000 grants and virtual mentoring
  • Applicants must meet certain conditions and make their submission by July 7
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SBA Accelerates Work on SVOG Grants, Decision Made on More Than 50 Percent of Applications

  • U.S. Small Business Administration has made a decision on more than half of the 14,638 applications it received for its Shuttered Venue Operators Grant program
  • The program was set up to assist arts and cultural organizations that suffered major revenue losses due to the COVID-19 pandemic
  • 2,390 entities have received notice of an award, including 36 in Connecticut
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Connecticut DOL Issues Reminder on Work Search Requirement, Releases COVID-19 Unemployment Stats

  • Connecticut Department of Labor reminds unemployment claimants of work search requirement being restored next week
  • Starting on July 7, claimants must provide record showing that they are looking for work in order to receive benefits
  • Connecticut has disbursed $9 billion in unemployment benefits since the start of the COVID-19 pandemic
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