Economy

After two months of decline, business confidence among Central Massachusetts employers was back on the rise in July, though the region’s score remained in pessimistic territory. 

MassBenchmarks Senior Contributing Editor Alan Clayton-Matthews flagged in his write-up that "Massachusetts continues to have a cost-of-living problem."

Marlborough-based pharmaceutical company Sumitomo Pharma America, a U.S. subsidiary of Japanese parent company Sumitomo Pharma, is set to lay off 53 employees, as the company continues to reduce its workforce.

Milford-based Waters Corp. saw declining sales across markets in the second quarter of 2024, as the company disclosed it has scaled back its employee headcount, primarily in China. 

The collapse of negotiations across a spectrum of topics leaves several priorities in limbo, on life support or effectively dead as most rank-and-file legislators shift their attention to summer vacations.

Gardner-based GFA Federal Credit Union has appointed a new member to its board of directors as Charles Bowles has announced his retirement following a 40-year tenure with GFA. 

“Central Massachusetts will complement the existing strengths in Greater Boston, accelerating the momentum for the Commonwealth to lead the emerging biomanufacturing sector in the U.S.,” the report reads.

Following a brief hiatus when Central Massachusetts saw a dip in unemployment, rates were back on the rise for the second month in a row in June.

Bill McAvoy, executive director of the Massachusetts Supplier Diversity Office, will retire come fall.

The Massachusetts unemployment rate continued to increase in June for the second month in a row following three months of unchanged rates.