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NFIB: Small Business Optimism Improves Despite Hiring Challenges

  • Small business optimism continues to improve in NFIB survey despite certain challenges
  • Labor quality remains a pressing issue as small business owners struggle to fill open positions
  • Business owners report improving earnings, but are also more uncertain about near-term business climate
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SBA Forms Collaboration with Millennium Challenge Corporation to Advance SBIR/STTR Innovations

  • SBA forms collaboration with Millennium Challenge Corporation
  • Partnership will allow small businesses in SBIR/STTR to help address global challenges and reach an international market
  • SBIR/STTR is the nation’s largest source of research and development funding for small businesses
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Business News Roundup, May 24, 2021

Disagreements on infrastructure, climate change and finances, and another defeat for the public option in Connecticut are among the top business news items this morning. National Democrats and Republicans remain at an impasse over the Biden administration's infrastructure proposal, as…

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Do You Need to Raise Your Employees’ Salaries to Stay Competitive?

  • Several companies have been raising salaries for open positions in an attempt to attract workers during a current labor shortage
  • Raising wages can help attract talented workers and retain valuable employees, but increasing compensation must be done with caution
  • Bonuses or improved benefits can be an alternative to salary increases
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FedEx Initiative to Assist 150 Small Businesses in Improving E-Commerce

  • Fed-Ex E-Commerce Learning Lab will help 150 small businesses to develop or expand their e-commerce offerings
  • Participants will take part in workshops and receive coaching, technical assistance, and $2,000 grants
  • Application details will be released in June and the program will begin in September
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Connecticut to Reinstate Work Search Requirement for Unemployment Benefits on May 30

  • Connecticut residents receiving unemployment benefits will be required to meet work search requirements starting on May 30
  • Requirements were suspended at the start of the COVID-19 pandemic as a public health measure
  • Reinstated rule says claimants must apply for work with at least one employer per week and complete other efforts to find a job
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Business News Roundup, May 21, 2021

A global minimum corporate tax rate proposal, PPP endgame, growth in the steel industry, a Fed report on the impact of supplemental unemployment, a potential shift from vertical axis wind turbines, and Connecticut economic plans are among the top business…

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Connecticut DOL Forecasts Sharp Increase in Personal Care, Automated Manufacturing Careers by 2028

  • Connecticut Department of Labor issues forecast for shift in occupations in state by 2028
  • Personal care, IT, and health care anticipated to see major growth, along with programmers for automated manufacturing processes
  • Major decline projected in several office and administrative roles
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Connecticut Unemployment Rate Drops Slightly to 8.1 Percent in April

  • Connecticut makes modest job gains in April as the unemployment rate falls to 8.1 percent
  • Average weekly unemployment claims fall sharply from March
  • Average work week increases slightly compared to previous year as wages drop
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Fed Report Finds Three-Quarters of Americans Are Comfortable with Finances Despite Pandemic Pressures

  • Federal Reserve finds that the majority of Americans maintain comfortable finances during the COVID-19 pandemic
  • However, the share of Americans reporting that they were worse off financially also reached its highest point since the survey began
  • The Fed also found persistent disparities based on race and education level
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