6 2 019 Economic Forecast • Worcester Business Journal • www.wbjournal.com
Info: ICCreditUnion.org or businessbanking@iccreditunion.com
Intelligent Business Solu ons
Congratulations
to
Process
Cooling!
Process Cooling Systems expands
with construction of a new facility
of over 60,000 square feet in the
Southgate Business Park, Leominster
The Process Cooling project was financed
by IC Federal Credit Union. If your business needs
financial assistance, contact Bruce Mathieu today!
~ WE'LL FIND A SOLUTION ~
Federally
Insured by NCUA
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How concerned are you that you'll be able to find
people with the right skills to do the job?
What's the biggest impediment to business growth in
Massachusetts?
ECONOMIC FORECAST 2019
2017 2018 2019
High cost of living 21% 38% 28%
High taxes 24% 16% 24%
High healthcare costs 20% 13% 16%
Slow regulatory processes 12% 11% 9%
High energy costs 2% 4% 2%
Other 21% 18% 21%
Of the 49 percent of survey respondents who said they plan to hire
additional staff next year, they were significantly concerned about a
skills gap with the job candidate pool.
0%
10%
20%
30%
40%
50%
60%
70%
80%
2017 2018 2019
Very concerned Mildly concerned Not at all concerned
35%
43%
12%
50%
37%
13%
72%
27%
1%
WBJ reader survey
Do you plan to hire additional staff in the coming year?
0%
10%
20%
30%
40%
50%
2013
2014 2015 2016 2017 2018 2019
31%
33%
44%
38%
32%
40%
49%
