WSJ: “Connecticut Has A Jobs Problem”March 20, 2017
A searing new piece in The Wall Street Journal underlines just how serious Connecticut's economic problems are.
In a new piece for The Wall Street Journal, Joseph De Avila interviews experts and economists who paint a dire picture of Connecticut’s economy in 2017.
“[V]ery, very poorly.” “[N]ot going to get back to its prior job peak.” “[W]e aren’t hitting it.” These are the assessments De Avila uncovers on Connecticut’s economic growth since the recession.
Connecticut has a jobs problem.
At a time when New Jersey is celebrating its best private-sector job gains in more than a decade and New York is breaking state employment records, Connecticut’s employment rolls remained flat. Total employment in the state hasn’t returned to pre-recession levels, lagging behind the nation, which crossed that mark in May 2014.
…The state—which ranked fifth among U.S. states for median household income—is contending with several challenges: a graying workforce, slow population growth, lackluster gains in the finance and insurance industries and several years of state budget cuts that have led to losses throughout the government sector, economists said.
De Avila reached out to the office of Gov. Dan Malloy (D-Conn.) for comment. Malloy’s spokesman “defended the governor’s record on jobs” and said “Governor Malloy will continue to push for reforms.”
Talk to experts, though, and something isn’t going right.
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