{"id":46596,"date":"2011-09-15T09:20:43","date_gmt":"2011-09-15T13:20:43","guid":{"rendered":"https:\/\/today.uconn.edu\/?p=46596"},"modified":"2011-09-16T20:55:38","modified_gmt":"2011-09-17T00:55:38","slug":"connecticut-jobs-less-of-the-same","status":"publish","type":"post","link":"https:\/\/today.uconn.edu\/2011\/09\/connecticut-jobs-less-of-the-same\/","title":{"rendered":"Connecticut Jobs: Less of the Same"},"content":{"rendered":"

\"The<\/a>The state can expect little or no job growth in the next few quarters, although \u201cthe economy could beat expectations,\u201d says the Fall 2011 issue of The Connecticut Economy<\/em> quarterly magazine.<\/p>\n

If it does, writes editor Steven P. Lanza, the state\u2019s job count could increase by 8,000 jobs by the third quarter of 2012. If GDP growth lags, however, the more pessimistic view would leave Connecticut with 1,000 fewer jobs a year from now.<\/p>\n

\u201cWith U.S. growth so slow, one big shock could be enough to push GDP into negative territory,\u201d Lanza warns.<\/p>\n

This could all change if a national jobs plan, such as the one proposed by President Obama last week, is put in place.<\/p>\n

Economists have lowered their expectations for this year\u2019s third-quarter growth to 2.1 percent, down from an average 3.4 percent just this spring, he says. A recent Wall Street Journal<\/em> survey of economic forecasters found that while the national GDP will strengthen in the coming months, it will remain well below 3 percent, the long-term average growth rate for the U.S. economy.<\/p>\n

Since Connecticut job growth is tied to national GDP growth, the outlook remains stalled, Lanza concludes.<\/p>\n

\u201cAt best, Connecticut will add only 2,700 jobs quarterly \u2013 barely matching the state\u2019s long-run average growth rate,\u201d he says.<\/p>\n

Still, there are bright spots that could improve the outlook, he says: Oil prices are dropping, banks are lending, and the state reached a deal with its public service employees to avert layoffs.<\/p>\n

Overall, the Connecticut economy is outperforming other New England states, the quarterly reports. Weekly earnings in the private sector in Connecticut are up 1.1 percent, although the gain has not kept pace with rising prices.<\/p>\n

\u201cThe real fear now,” he says, “is that the slowing U.S. economy could start erasing the modest gains Connecticut has made so far.\u201d<\/p>\n

Listen to Lanza speaking about the state’s economy<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

The latest issue of The Connecticut Economy says that job growth in the state is probably stalled until late next year.<\/p>\n","protected":false},"author":10,"featured_media":46595,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"wds_primary_category":0,"wds_primary_series":0,"wds_primary_attribution":0,"footnotes":""},"categories":[1],"tags":[],"magazine-issues":[],"coauthors":[43],"class_list":["post-46596","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"pp_statuses_selecting_workflow":false,"pp_workflow_action":"current","pp_status_selection":"publish","acf":[],"publishpress_future_action":{"enabled":false,"date":"2026-06-17 01:53:28","action":"change-status","newStatus":"draft","terms":[],"taxonomy":"category","extraData":[]},"publishpress_future_workflow_manual_trigger":{"enabledWorkflows":[]},"_links":{"self":[{"href":"https:\/\/today.uconn.edu\/wp-rest\/wp\/v2\/posts\/46596","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/today.uconn.edu\/wp-rest\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/today.uconn.edu\/wp-rest\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/today.uconn.edu\/wp-rest\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/today.uconn.edu\/wp-rest\/wp\/v2\/comments?post=46596"}],"version-history":[{"count":5,"href":"https:\/\/today.uconn.edu\/wp-rest\/wp\/v2\/posts\/46596\/revisions"}],"predecessor-version":[{"id":46799,"href":"https:\/\/today.uconn.edu\/wp-rest\/wp\/v2\/posts\/46596\/revisions\/46799"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/today.uconn.edu\/wp-rest\/wp\/v2\/media\/46595"}],"wp:attachment":[{"href":"https:\/\/today.uconn.edu\/wp-rest\/wp\/v2\/media?parent=46596"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/today.uconn.edu\/wp-rest\/wp\/v2\/categories?post=46596"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/today.uconn.edu\/wp-rest\/wp\/v2\/tags?post=46596"},{"taxonomy":"magazine-issue","embeddable":true,"href":"https:\/\/today.uconn.edu\/wp-rest\/wp\/v2\/magazine-issues?post=46596"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/today.uconn.edu\/wp-rest\/wp\/v2\/coauthors?post=46596"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}