BUSINESS BRIEFS: Confidence Up, TB12 in New Deal, Unions Down, MassBay Grows

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Business Confidence Rises to Begin 2024

Moderating inflation, sustained economic growth and the prospect of lower interest rates boosted confidence among Massachusetts employers during the first month of 2024. Not every sector of the economy, however, broke out the party hats. The Associated Industries of Massachusetts Business Confidence Index (BCI) gained 0.9 points to 53.5 in January, hitting an 11-month high that left it comfortably in optimistic territory. The Index was 0.3 point higher than in January 2023. The strengthening of business confidence came as the US economy grew at a 3.3 percent annual rate during the fourth quarter of 2023, labor markets remained strong, and inflation steadied at about a third of its high point in June 2022. The Federal Reserve held its federal funds rate steady last week as Chair Jerome Powell said the Fed seeks a “true signal” that it is time to reduce rates.

Tom Brady Biz Continues to Evolve

More news revealed about TB12’s business. As reported here in October, Tom Brady has split from his partner in a venture called TB12 that called Foxboro home. The existing facility at Gillette closed and the new health-oriented business, TBRx opened in Franklin's Village Mall. Now, according to published reports, the TB12 Sports and Brady Brand are merging with NOBULL.

Feds Assess Slight Drop in Union Membership in Mass.

In 2023, union members accounted for 12.6% of wage and salary workers in Massachusetts, compared with 12.7% in 2022. Regional Commissioner William J. Sibley noted that Massachusetts was 1 of 19 states with a union membership rate above the national average. Links to additional BLS union member information—

• The national news release— https://www.bls.gov/news.release/pdf/union2.pdf
• 12-month percent change in compensation by bargaining status, United States
  https://www.bls.gov/charts/employment-cost-index/compensation-in-private-industry-by-bargaining-status-12-month-percent-change.htm
• Occupational wages by metropolitan area and union affiliation (2022)
  https://www.bls.gov/mwe/avg-hourly-wages-for-union-nonunion-fulltime-parttime-workers.pdf.

MassBay Adds Health Building

MassBay Community College proudly announces the completion of its latest milestone with the opening of the Center for Health Sciences, Early Childhood, and Human Services. This 68,500-square-foot, four-story facility is a net zero energy-ready building with state-of-the-art equipment and labs designed to prepare the workforce of tomorrow. This Center marks the first building constructed for the College since its establishment in 1961. “The Center stands as a beacon of progress and innovation, representing a culmination of a nearly 33-year journey for MassBay Community College,” said MassBay President David Podell. “Unlike previous buildings, this one has been designed from the ground up to meet the College’s programmatic needs, symbolizing a new era in academic excellence. Our doors are open to everybody, meaning everybody has a chance to move up economically in the world and bring their family with them.”