The survey reveals that 83% of employers say changes in the cost of living in Massachusetts are likely to influence their decisions on growing or shrinking their presence, a drastic increase from 34% in 2022.
Roundtable president JD Chesloff highlights that the cost of living is altering hiring practices, making companies more inclined to expand operations in other locations if given the choice.
While some positive signs were noted, such as a softening labor market leading to fewer companies experiencing talent shortages, the survey also pointed out that nearly 40% of employers plan to grow their workforce outside of Massachusetts.
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