Budget numbers released by the Office of Fiscal Analysis show Connecticut’s budget deficit this year grew to over $1 billion, an increase of more than $687 million over the previous estimate. Gov. Ned Lamont had said this year’s deficit would be roughly $500 million, with next year’s deficit reaching $1.5 ...
Amidst a severe downturn on Wall Street sparked by the COVID-19 virus and the shuttering of businesses across states to keep the spread of the virus minimal, Connecticut will face “considerable” economic fallout, according to economist Donald Klepper-Smith of DataCore Partners. Connecticut had only just recovered from the 2008 recession, ...
The U.S. Bureau of Economic Analysis released state-by-state personal income growth figures for the first quarter of 2019 that showed Connecticut near the bottom of the list, placing 48th overall for income growth. Connecticut residents’ personal income grew only 1.5 percent — the lowest in the eastern half of the ...
Connecticut ranked 43rd in the country in Wallethub’s annual ranking of Best and Worst States to Start a Business.
Nice states encourage and reward risk takers, both with policy and general attentiveness to their job creators. Unpredictability, projections to increase taxes, and constant regulatory creep are factors that reduce business confidence and, ultimately, reinvestment in a state. Naughty states disregard the concerns of employers.
Photographs taken at the Governor’s 2016 Economic Forum in February highlight a number of troubling statistics. - Poverty among minority groups is rising faster than others. - The decline in Connecticut manufacturing jobs has wiped out more than half of all job growth since the 1990s. - Middle-skill jobs in the science and technology sector are the hardest to fill. - Connecticut has some of the highest long-term unemployment rates in the nation.