SouthCoast businesses are still hamstrung by the inability to fill open jobs and the rising cost of doing business due to high inflation, but hopes abound that the summer tourism season will return activity back to pre-pandemic levels.
One SouthCoast Chamber of Commerce co-CEO Michael O’Sullivan says despite encouraging unemployment numbers, local businesses are still struggling to fill open positions.
O’Sullivan says historic levels of inflation continue to impact businesses’ bottom lines resulting in passing cost increases on to customers.
Now that the country is two years into the pandemic and restrictions have been greatly lessened, businesses in the tourism and hospitality industry are gearing up for what may shape up to be a banner summer season.
As we head toward the end of the year O’Sullivan says the threat of a recession caused by high inflation is not necessarily of concern to the business community…it’s the fear of the unknown as to what the economy will do next.
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