Connecticut Jobs Decline
Wednesday, February 10th, 2010According to a new study released by the University of Connecticut, Connecticut jobs will continue to be eliminated, as outsourcing and government budget problems dim employment recovery prospects.
The report begins by grimly stating, there is no jobs recovery in sight. Assuming national growth trails off from the unsustainable 5.7% of the fourth quarter, Connecticut continues to lose jobs through 2011; the rate of loss simply slows from the predicted rate in the previous CCEA Outlook.
The state’s economy has undergone a critical structural change as the degree of outsourcing—whether to other states or abroad—has grown quickly for more than a decade; the result is that even strong growth in total output may not translate into rapid improvement in employment. The effect shows in a pattern of progressively slowed jobs recovery.
