Positive Signs For Connecticut's Economy

January 29, 2018

There are positive signs that Connecticut’s economy could be poised to take off. A report from the U.S. Department of Commerce shows our economy grew faster than most other states' during the third-quarter of 2017.

Plus, there was more good economic news this week when the state Department of Labor reported that Connecticut gained 6,000 non-farm jobs in December.

For the 2017 calendar year, non-farm employment grew by 7,700 jobs on a seasonally-adjusted basis. Since the end of the last recession, Connecticut has created 91,000 jobs -- and appears to be on the path to growing more.

According to the commerce department report, figures show that the state economy expanded by nearly 4 percent between July and September -- outpacing all of the New England states and all but seven states nationwide. The sectors with the strongest growth are right in our wheelhouse: Insurance, finance and manufacturing. And much of the manufacturing growth is in aerospace, which economists predict is an area that will remain strong for years to come.

While this is great news, we can do better. I will continue to support area businesses – large and small – with legislation promoting their ability to connect with Connecticut community colleges, connect with our technical high schools, add good-paying jobs and hire our well-trained young people.

If you have additional ideas to help promote the latest economic growth trends, please feel free to email me at Andrew.Fleischmann@cga.ct.gov or call 860-240-0429.