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As the Nation's Economy Goes, So Goes the State's

As state unemployment remains high, a stronger national economic recovery is seen as the answer, according to one report.


Connecticut has had a tough time recovering from the recession, and no where is that more true than when it comes to the number of jobs lost, according to a recently-released report. 

“The only breaks Connecticut’s economy seems to catch these days are bad ones,” economist Steven Lanza wrote in the latest edition of The Connecticut Economy, released Wednesday.

CT News Junkie profiled the report this week, noting how the state's unemployment rate is tied in large part to the strength of the national recovery. And the bad news is economists don't see much movement in that area until the second half of next year.

That means the state will continue to struggle with job growth for the immediate future, and unemployment will stay at historically high levels. And that's assuming Congress is able to come to an agreement and avoid going over the "fiscal cliff" — should that fail, the outlook becomes even bleaker.

“The consequences for Connecticut employment would be disastrous,” Lanza says, according the the CT News Junkie article.

Paul Alexander December 14, 2012 at 01:16 AM
"The state's unemployment rate is tied in large part to the strength of the national recovery" What a cop out. When will serious journalists begin investigating the relationship between Connecticut's tax, regulation and union policies and the state's chronic underemplyment. Pratt & Whitney didn't decide to locate their newest engine design and fabrication initiative, and the 200+ high paying jobs that go with it, at their Florida plant because of the poor national economic recovery. Connecticut will only solve its unemployment problem when it finally admits their policies have failed.
Veritas vos liberabit December 14, 2012 at 02:34 AM
Florida bribed P&W with $4.4 million, that comes out to nearly $20,000 per job, that is the reason for the move, if CT did that you'd be moaning about what a waste of money it is. October 2, 2012 STAMFORD, Conn. (CBSNewYork) – The fourth-largest cable operator in the country is relocating its corporate headquarters to Stamford. Gov. Dannel Malloy’s office confirmed Charter Communications has left its corporate center in St. Louis in favor of Stamford. The move is part of Gov. Malloy’s “First Five” initiative, which offers companies incentives to expand or relocate to the state. Gov. Malloy’s office said under the project, Charter Communications is expected to create 200 jobs. “So I think there is going to be a terrific opportunity for people here in the Stamford area and the Fairfield County area to find employment with Charter Communications,” Stamford Economic Development Director Laure Aubuchon told WCBS 880 Connecticut Bureau Chief Fran Schneidau.
Paul Alexander December 14, 2012 at 01:06 PM
Stalker Man… No one will ever know what incentive package CT offered Pratt, but one WAS offered. What we CAN tell is that whatever the incentive package CT offered Pratt was, it wasn’t enough to overcome the tax, regulation and union "costs" Pratt was looking at to do the work in a business hostile state like Connecticut. Connecticut residents and politicians remain in denial, even as the states fiscal crisis deepens. I get no joy out of pointing that out. I just want SOMEONE to stand up to the idiots in Hartford that are destroying the state and do something about the crisis.
Paul Alexander December 14, 2012 at 01:18 PM
...and my bigger point, Sully...and I know it gets hard for you to wrap your head around the big picture… is that Connecticut's fiscal WOES are NOT somehow due to a national economic malaise. Plenty of states are thriving or at least certainly doing better than Connecticut. Again, just look to the census data. People are moving AWAY from where their prospects are bleak TO where their prospects are brighter. The argument that Hartford is trying to get everyone in CT to swallow, that somehow CT’s fiscal crisis is not Hartford’s fault, is total BS and political a$$ covering in a budget year. And for every state that becomes a Right to Work state, Connecticut becomes incrementally less competitive. Way to go Michigan!
Veritas vos liberabit December 14, 2012 at 03:05 PM
Yea, everything appears to be just hunky-dory in Flori-duh. Maybe Patrick Murphy will help fix the situation. Posted on Thursday, 12.13.12 Foreclosure activity is rising in Florida — with more foreclosure starts, scheduled auctions and repossessions — creating a headwind for the housing recovery. BY MARTHA BRANNIGAN MBRANNIGAN@MIAMIHERALD.COM Florida led the nation in foreclosure activity for the third month running in November, a dubious distinction that will likely dampen the momentum of the real estate recovery in the coming year, according to RealtyTrac. Even as foreclosure activity decreased nationally, foreclosure filings in Florida jumped 20 percent in November from a year earlier and rose 3 percent from October, the data firm based in Irvine, Calif., said. Among the 10 metropolitan areas with the highest foreclosure rates, seven are in Florida, the firm said. The metro area covering Miami, Fort Lauderdale and Pompano Beach ranked No. 5 among cities, with one in every 260 residences logging some sort of foreclosure act Read more here: http://www.miamiherald.com/2012/12/13/3141246/florida-leads-nation-in-foreclosure.html#storylink=cpy
Paul Alexander December 14, 2012 at 03:12 PM
Sully, You're such a moron. The foreclosure issues in FLA are driven by INDIVIDUALS making poor economic choices. People are suffering due to their OWN choices. The economic issues in Connecticut are STATE driven. People are suffering due to the choices made by a cabal of clueless politicians. You do get an A+ for your CTL C / CTL V skills. You're the man Sully!

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