A debt ceiling agreement, a presidential appeal to businesses on COVID-19 vaccine mandates, faster leisure and hospitality recovery in highly vaccinated states, greater demand for college graduates, and the results of a Connecticut state employee vaccine mandate are among the top business news items this morning.
National
Democratic and Republican leaders have reached an agreement on the debt ceiling disagreement, according to Senate Majority Leader Chuck Schumer. Congress has been under pressure to make a decision on the debt ceiling by Oct. 18, when it is anticipated that the federal government will no longer be able to pay its bills, and the agreement allows a short-term increase to the debt ceiling through Dec. 3.
President Joe Biden is urging businesses to implement their own COVID-19 vaccine mandates for employees, saying existing ones have proved effective. The appeal comes as the White House pursues a federal mandate for companies employing at least 100 people.
Business trends
Leisure and hospitality jobs have recovered faster in states with higher COVID-19 vaccination rates, according to an analysis from Fitch. States where more than two-thirds of their population was vaccinated saw leisure and hospitality jobs grow about three times more rapidly than in states where less than 50 percent were vaccinated.
College seniors and graduates are experiencing more demand from white-collar employers as they ramp up recruitment efforts. The trend follows a more uncertain jobs climate for the Class of 2020, which graduated just as companies were pulling back on hiring due to the COVID-19 pandemic.
Connecticut
Governor Ned Lamont says punitive action could occur as early as today against state employees who are noncompliant with a COVID-19 vaccine mandate. Only 671 employees have not been vaccinated or opted for weekly testing, and Lamont said most noncompliant cases are due to incomplete submissions rather than deliberate opposition to the policy.
