A new annual report from Truth in Accounting found Connecticut has $67 billion in bonded debt and unfunded retirement costs, making it the third most indebted state per taxpayer in the nation. The total debt, which amounts to $50,700 per taxpayer in the state, is based on Connecticut’s 2019 financial ...
An updated report by the Federal Reserve on Friday says that 77 percent of 4,174 people surveyed said they were doing “okay” financially during the pandemic, an increase of 5 percent since the survey was conducted in April. But the study also shows that many people are not expecting to ...
With only a few months left in the year, it is almost certain that 2020 will mark the largest annual job loss in Connecticut’s history going back to 1960 due to the pandemic and, according to research, it is likely Connecticut will have a long and slow employment recovery. Connecticut’s ...
Barron’s, the financial investor publication, conducted an overall “credit worthiness” scorecard for states and ranked Connecticut near the bottom of the pack, despite a hefty budget reserve fund. Connecticut currently has an A1 stable credit outlook from Moody’s Investor Services and an A rating from S&P Global Ratings. However, according ...
Connecticut’s economy is 81 percent of what it was in March before the shutdown of businesses due to the COVID-19 pandemic, according to a new “Back to Normal” index compiled by Moody’s Analytics and CNN Business. The index shows Connecticut is 23rd in the country for returning to a pre-pandemic ...
During a virtual meeting with the state Appropriations Committee on August 14, Department of Labor Deputy Commissioner Daryle Dudzinski told committee members the DOL estimates there have been 50,000 overpayments of unemployment and potentially 80,000 more that the department is investigating. “To date, we have approximately 50,000 potential overpayments that ...