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The Central Massachusetts Business Confidence Index continued to show optimism among employers in August, though it fell behind optimism statewide.
The Central Massachusetts index, produced by the Worcester Regional Chamber of Commerce and the statewide trade group Associated Industries of Massachusetts, showed volatility in local employers' mood of the summer. It jumped from pessimistic territory with a score 46.3 in June to more optimistic territory with a score of 52.2 in July, then dropped in August to 50.9.
The index is calculated on a 100-point scale, with a rating over 50 signaling optimism.
The statewide index, conducted by AIM, showed less variation throughout the summer. It remained nearly flat at 52.4 in August, down one-tenth of a point from July, according to a Monday press release from the organization.
“U.S. employers added 3.1 million jobs over the past 12 months, including 187,000 in August. The unemployment rate rose to 3.8% from 3.5% in July as more Americans joined the workforce,” AIM Board of Economic Advisors Chair Sara Johnson said in the press release. “That growing workforce and slower price increases have boosted Americans’ inflation-adjusted incomes this year, fueling more hiring and spending.”
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Worcester Business Journal provides the top coverage of news, trends, data, politics and personalities of the Central Mass business community. Get the news and information you need from the award-winning writers at WBJ. Don’t miss out - subscribe today.
Worcester Business Journal presents a special commemorative edition celebrating the 300th anniversary of the city of Worcester. This landmark publication covers the city and region’s rich history of growth and innovation.
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