"The labor market is softening - employment has decelerated, and long-term unemployment has risen,"
"Because the labor market is a major pillar of consumer spending, any sign of widening job losses or weakening wage gains would be a red flag,"
"Federal government contracting is decreasing for small businesses, and tariffs are hurting everyone."
Business confidence in Massachusetts declined further in October, producing the longest run of pessimistic readings since the COVID-19 period in 2020. The AIM Business Confidence Index, based on a survey of more than 140 employers and measured on a 100-point scale with 50 neutral, showed employers citing rising prices, tariff impacts, and reduced federal contracting. Employment has decelerated and long-term unemployment has risen, raising concerns about consumer spending. The federal government shutdown has interrupted official data collection, while tariffs, cuts to research-and-development spending, an aging demographic, and tighter immigration policy are affecting productivity and labor-force participation.
Read at Boston.com
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