Massachusetts in an Economic Holding Pattern

Date: December 02, 2020

After months of closure, restrictions, and increased regulations, it seems for the time-being, no additional statewide rollbacks are anticipated. As communities oscillate between parts 1 and 2 of Phase 3 based on municipal level COVID data, the Governor has suggested he has no further plans for limits on businesses. 

This comes as welcome news following a study by a Harvard University sponsored business closure tracker showing 37% of Massachusetts small businesses are now closed, with an even higher number of closures in the city of Boston. While the state unemployment rate has ticked downward over the past few months, data shows a large number of workers have stopped seeking employment altogether and dropped from the workforce.  

However, the fear of more closures on the horizon is a real possibility if lawmakers don’t take steps to lower the cost of doing business in 2021. NFIB State Director Christopher Carlozzi appeared on Fox 25 in Boston to stress the importance of the state reducing business costs. NFIB will continue to remind legislators that action must be taken to lower UI taxes, healthcare premiums and labor costs in the new year to encourage job growth and recovery. 

 

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