‘Business is at home now’ David Lehman, commissioner of the Connecticut Department of Economic and Community Development, in April 2021 in Bridgeport, Conn. State officials suspect some of that gap is due to a quirk in the data - surveys are not a hard science.īut there’s no question the number of people living here and not working is way up in the pandemic - an increase at least in the neighborhood of 100,000.
The rate of unemployment has fallen but remains 2 percentage points above the national rate.īecause many people have stopped looking for work, Connecticut in September had about 164,000 fewer residents with jobs, compared with two years ago, according to the monthly survey of households. That was 87,000 jobs short of the number two years before on the doorstep of the pandemic. The state boasts some advantages even beyond the influx of people (mostly from New York), and of course, some steep challenges.Īs of September, Connecticut employers had about 1,609,000 people on their payrolls as estimated by the Connecticut Department of Labor, based on surveys. The key questions there are which sectors will emerge as engines of growth, which the state desperately needs in order to keep alive the cycle of people wanting to live here, which leads to more job growth.
Now all eyes turn to Connecticut’s private sector to pick up the momentum. For others who saw no lost income, it amounted to a welcome cash bonus from Uncle Sam. Under the Coronavirus, Aid, Relief and Economic Security Act of 2020, the CARES Act, many Americans collected thousands of dollars in assistance - including an extra $600 in weekly unemployment assistance later pared to $300 - while small business owners got hefty cash payments.įor some who lost jobs and businesses, it was a crucial boost. Alexander Soule /Hearst Connecticut Media / Ned Lamont hopes to encourage more companies like Parker Medical to expand in Connecticut. Whether homegrown or relocation across the border, Gov. “It points to a very difficult future as our population falls along with our tax revenues - an ugly trajectory absent major policy changes and investments.” Missing: 100,000+ workers With city and state officials on hand, employees of Parker Medical commemorate the medical device component maker’s relocation into a larger facility in Danbury, Conn., with the company having more than 75 full-time employees there from a diverse range of backgrounds. “Now, many of those folks have lost their jobs and may decide to move out of state to find new jobs,” Carstensen said. Carstensen points out, while they maintained residency in Connecticut. It’s a tenuous tide, however, with the core question - will people who have a choice want to live in Connecticut?Īs attractive job opportunities dwindled in Connecticut, many people took jobs in information technology and other fast-growth sectors in New York and elsewhere, UConn economist Fred V. Now, after the pandemic, Connecticut shows signs of a sea change, breaking that cycle of languishing incomes and flat job gains.
It’s especially clear in Bridgeport, Hartford, New Haven and other cities with high property taxes, low average incomes and large Black and Hispanic populations who bear the brunt of an economy short on opportunities. Through booms, collapses and the pandemic shutdown, Connecticut’s economy has failed to show long-term, sustained growth - leading to a cycle of weak job opportunities and budget shortfalls.