economy

NY Fed mostly positive on Conn. recovery

Jan 15, 2014

An economist with the Federal Reserve Bank of New York gave a mostly positive outlook for 2014 for Connecticut, despite the state's slow pace coming out of the recession.

Connecticut Plagued by a Soaring Foreclosure Rate

Jan 2, 2014
Kaomi Goetz

Last month, foreclosure filings sunk to the lowest number since the housing crisis began eight years ago. Home prices are up nationwide. But the recovery isn’t being felt everywhere. In fact, in some states like Connecticut, foreclosures are soaring.   

AP file photo/Mike Groll

 

 New York State Comptroller Tom DiNapoli is warning that a prolonged government shut down could depress the state’s already struggling economy. 

The Connecticut Labor Department says the state’s unemployment rate in August remained unchanged from July at 8.1 percent. The report shows a loss of 6,000 jobs, but the Labor Department says that's because of a miscalculation last month in their seasonal adjustment of the labor numbers.  Long Island’s private sector lost 600 jobs in August compared to July. But the New York Department of Labor says that’s an improvement in the long-term. Over the prior 10 Augusts, the losses averaged 3,000.

The Connecticut Economy, based on statistics from U.S. Bureau of Labor Statistics

In a report released Wednesday, Connecticut economists say the state’s economy is gaining momentum. Steven Lanza, editor of "The Connecticut Economy" says how and why the economy moves is more complicated than politicians might suggest on the campaign trail.


Pages