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Small businesses struggle to fill empty positions as economy bounces back

Small businesses struggle to fill empty positions as economy bounces back and last updated 2021-05-28 13:42:08-04 As people return to work after historic unemployment during the pandemic, some businesses struggle to hire, leaving small businesses in an especially tough spot. “The past 15 months or however long it s been has been incredibly surreal,” Beth Gruitch, Co-owner of Crafted Concepts restaurant group, said. “It s been this up and down of hiring and laying off.” Now this restaurant is buzzing with customers again. “We’re busy. People want to go out; they are vaccinated,” she said. But Gruitch is having trouble hiring at all the restaurants that are part of the group. “We’re having a shortage of staff. There’s like almost 100 job postings, and the amount of people that are here to work in the hospitality industry is very dismal,” she said, explaining that she’s never seen it this bad. “To the point where pe

Inflation to Accelerate Strongly in Coming Weeks, Top Economists Warn

© press Inflation rates in the United States are expected to accelerate strongly in coming weeks and months, leading economists are warning. A new economic projection published Monday shows inflation severely heating up before consumer prices eventually level off. The consumer price index (CPI), a common measure for inflation, saw a 1.2% increase in 2020, according to economists surveyed by the National Association for Business Economics (NABE) However, the CPI is expected to rise 2.8% in 2021 and 2.3% in 2022 under Democrat Joe Biden s administration. The projection, released Monday, reflected the Federal Reserve consensus that inflation will heat up by the end of the year. Economists predict that inflation may only begin to start cooling down next year as the economic recovery continues.

As Small Businesses Slowly Recover, Financial Help Becomes More Targeted Here s What s Available

It was terrifying, said the 44-year-old Parks, who had been in business for only six months before the crisis hit. She took advantage of as many programs as she could state funding, and Economic Injury Disaster Loan and the Paycheck Protection Program. Yet it wasn t enough to cover all of her overhead costs, including rent, insurance and utilities. In April, she slowly started to reopen: one night a week and at a very small capacity making enough to pay for the staff, musicians and inventory for the evening. Lucius Pham xBk, a performance theater in Des Moines, Iowa was closed for more than a year during the pandemic.

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