Connecticut

Is CT’s economy ‘growing’? It depends on how you define it

Published

2 weeks ago

May 5, 2024

Is CT’s economy ‘growing’? It depends on how you define it

“We have more people employed” is one of the many things Gov. Ned Lamont touted earlier this week in response to a claim that Connecticut’s economy is continuously weakening.

The criticism came from Fred Carstensen, a professor and economist at the University of Connecticut who heads the Connecticut Center for Economic Analysis, and it was asked during a one-on-one interview on Tuesday between The Connecticut Mirror and Lamont.

“Right now, we have the fastest growing economy in the northeast by a little bit,” Lamont continued.

But what makes an economy “grow” and be “fast”? It depends on whom you ask, and it’s often more complicated than looking at one single measure. One might consider inflation, income distribution, cost-of-living, total output, exports and many other factors, each of which paints a different picture of the state’s economy.

One common way to look at it, though, is by considering employment — how many people are working, how many are eligible, how many are looking to work and so forth.

Lamont said that there are more people employed now than before. Is that true? According to data from the U.S. Bureau of Labor Statistics, it depends on the time frame. The average number of people employed in 2023 in Connecticut was 1.822 million, which is a:

• 0.63% decrease from the 2022 average (1.833 million → 1.822)

• 2.16% decrease from 2019 (1.862 million → 1.822)

• 6% increase from 2013 (1.718 million → 1.822)

• 5.7% increase since 2000 (1.723 million → 1.822)

More people are employed in Connecticut than decades ago, but that’s normal of any state that’s seeing an increase in population.

While the number of employed people grew in the state by 5.7% since 2000, the 16-and-over population increased by 12% — a difference not unexpected, as Connecticut’s population is aging, along with other factors.

Another measure that shows this relationship is the employment to population ratio. In 2000, the ratio of employed people to the total population was 65%. In 2023, it was 61.8%. Decreases were seen for every other New England state as well.

Shorter-term, there were fewer people employed last year than before the pandemic in 2019, when Connecticut saw a record number of workers at 1.862 million. All New England states except Rhode Island experienced a decrease in the number of workers since 2019.

The portion of the population that isn’t working could be either not part of the labor force or unemployed. The number of people that are unemployed or looking for a job out of the entire labor force makes up the unemployment rate.

The 2023 unemployment rate for Connecticut was 3.8%, the highest in New England, but any “unemployment rate around 4% would be considered low by historic standards,” writes a researcher from the state’s Department of Labor in the March 2024 edition of the Connecticut Economic Digest.

The unemployment rate has been falling since 2020, a sign of recovery from the pandemic, but the rate is still slightly higher than before the pandemic, a trend also seen for Massachusetts but not for any other New England state. In 2019, the unemployment rate in Connecticut was 3.6% while in 2023 it was 3.8%.

The 2023 unemployment rate is not as low as levels seen in 2000, when it reached 2.1%, but it’s still lower than the 4.9% rate seen in 1990.

Some argue that an increasing unemployment rate can be a good thing, despite its negative connotation. In a September 2022 national analysis, a time when the unemployment rate rose, the chief economist at the U.S. Department of Labor at the time wrote that, “The unemployment rate rose for a positive reason — more unemployed workers began seeking jobs.”

If more people are joining the labor force by looking for a job, the unemployment rate will go up, since there will be more people classified as “unemployed.”

There’s also a measure known as the labor force participation rate, which combines both measures discussed above: The employed plus the unemployed as a share of the total working age population.

In 1990, Connecticut’s labor force participation rate was 70.6%, but last year it sat at 64.2%. This decades-long decreasing trend is also seen for other New England states and is associated with an aging population and a decrease in participation from certain groups of men, as explained by researchers from the U.S. Census Bureau and the Federal Reserve Bank of Philadelphia.

In recent years though, the 2023 participation rate has recovered from a historic low in 2021, but it is not yet back to levels seen in 2019 before the pandemic, where the rate was 66.3%, just 2.1 percentage points higher than last year’s rate.

So what does this all mean? Lamont was right in that there are more workers now than decades ago, but that’s expected if the population of a state is growing. But when taking that into account, the number of workers is not increasing as fast as the 16-and-older population. As of last year, employment numbers and labor force participation rates for the state are still not at pre-pandemic levels, and the unemployment rate is higher, although decreasing.

And among New England states, Connecticut last year had the highest unemployment rate and the third-lowest labor force participation rate, but it wasn’t the only New England state to see decreases.

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Related Topics:Business connecticut cost of living CT News Economy exports Featured growth income inflation jobs Unemployment

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Connecticut

Why Connecticut Sun will fly commercial to Indiana Fever game amid WNBA charter flight rollout

Published

7 hours ago

May 18, 2024

Press Room

Why Connecticut Sun will fly commercial to Indiana Fever game amid WNBA charter flight rollout

UNCASVILLE — The Connecticut Sun will take a commercial flight to face the Indiana Fever for their first road game of the season on Monday amid the WNBA’s clunky rollout of a charter travel program for the 2024 season.

The Fever and rookie superstar Caitlin Clark flew to Connecticut on a chartered plane for the season opener at Mohegan Sun Arena on Tuesday. The Minnesota Lynx also took a charter flight for their first game against the Seattle Storm, but all other teams flew commercially for their openers. All 12 teams are expected to operate with full-time charter travel beginning Tuesday — the day after the Sun play in Indianapolis.

The WNBA originally unveiled plans to institute full-time charters this season on May 9, five days before the first regular-season games. It announced that the program would be “phased in beginning with the start of the 2024 regular season.” Commissioner Cathy Engelbert said charter travel would launch “as soon as we can get planes in places,” but there was little further explanation. WNBA players held a town hall with Engelbert on Monday after it became clear that charter flights would begin immediately, but not for all road trips.

The Chicago Sun-Times reported that Engelbert told players the WNBA was prioritizing charter for trips that are “crossing multiple time zones or flights that usually require a connection.” Bradley International Airport, where the Sun typically travel from, does not offer any nonstop flights to Indianapolis on any airline.

“Yeah that’s disappointing certainly, considering not just our place to fly in and out of, but us to Indiana is almost the worst trip in the world,” Sun coach Stephanie White said. “I made that a lot of times on the other end, so I know that from experience, and certainly understand that it’s a tough one, so I’m disappointed.”

A WNBA spokesperson said the league will not comment on case-by-case travel situations.

Chartered air travel — or lack thereof — has long been a spot of contention between the league and its players. All 12 WNBA teams traveled to regular-season games on commercial flights under the current collective bargaining agreement last year, and the New York Liberty were fined $500,000 in 2022 for using charter flights provided by owners Joe and Clara Tsai.

Tensions spiked again in 2023 when Brittney Griner returned to the Phoenix Mercury after a highly publicized 10-month detainment in Russia. Griner was harassed by a right-wing social media personality at the Dallas airport while the Mercury were flying commercially for a game against the Wings last season, but only Griner was allowed to fly charter for the rest of the year. The league introduced charter flights for all playoff games in 2023, but Engelbert said as recently as the WNBA Draft on April 15 that the league was waiting for “the right financial position” to implement a full-time program.

That financial position apparently came sooner than expected with the arrival of one of the most popular rookie classes in WNBA history. Social media erupted with safety concerns for Clark over a viral video of her at the airport for the Indiana Fever’s preseason game, and Chicago Sky rookie Angel Reese is the most-followed active player in the league on Instagram with an audience of more than 3.1 million.

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Connecticut

Bonner helps Connecticut surge in fourth quarter and beat Mystics – The Collinsville Press

Published

14 hours ago

May 18, 2024

Press Room

Bonner helps Connecticut surge in fourth quarter and beat Mystics – The Collinsville Press

Connecticut’s DeWanna Bonner scored 14 of her game-high 22 points in the fourth quarter to help the Sun beat Washington on Friday night.

After Washington’s Ariel Atkins drained a three-point shot after a turnover from the host Connecticut Sun, the visiting Mystics had a seven-point lead early in the fourth quarter.

That was the high water mark for the Mystics Friday night at the Mohegan Sun Arena in Uncasville. The Sun scored 17 of the next 20 points in the game including a run of 17 consecutive points to beat the Mystics 84-77 before a crowd of 6,871.

Connecticut veteran DeWanna Bonner scored 14 of her game-high 22 points in the fourth quarter as the Sun won their second straight game and beat the Mystics for the sixth straight contest. DiJonai Carrington had 21 points and three assists for the Sun while Alyssa Thomas had 13 points, a team-high 11 rebounds and six assists.

Washington (0-2) hit eight of their first 17 shots from three-point range to stay in the game but sank just one of 5 from beyond the arc in the fourth quarter. The Sun had 14 steals in the game and six in the pivotal fourth quarter.

“I had to do something,” Bonner admitted. “For three quarters, I wasn’t my best. I felt I had to turn it on or sit down. I just got aggressive on defense.”

In the fourth quarter, Bonner was 6-of-9 from the floor with four rebounds and four steals.

“Great players understand the moment,” Sun coach Stephanie White said. “She had struggled shooting the basketball but she found ways in the fourth quarter to get to the rim. Whether it was attacking, cutting , getting an easy one or getting to the free throw line. It is the DNA of some players to understand the moment.”

Washington led 59-52 early in the fourth quarter after Atkins completed a three-point play. Bonner scored in the lane to cut the lead to five and then stole the ball and drove to the basket to reduce the lead to three, 59-56.

A three-point play from Shakira Austin extended the Mystic lead to six but Carrington scored in the lane, was fouled and completed the three-point play to cut the lead to three, 62-59 with 8:02 remaining in the game.

The Sun scored the next 12 points of the game to take a 62-59 lead. Bonner had six of the ten points on drives to the basket. Two baskets came off fabulous passes from Thomas and the third basket came after another steal and a drive to the basket.

Brionna Jones also had two baskets in the low post for Connecticut. She had seven points and seven rebounds in 20 minutes of work as she continues to come back from last year’s achilles tendon injury.

The Sun led by seven, 75-68 with 2:54 remaining but the Mystics didn’t go quietly.

After cutting the Connecticut lead to two with 1:50 remaining, it was Ty Harris with a three-point in the lane with 1:36 left to extend the lead to five points.

Washington cut the lead to three with 16.7 seconds but Bonner hit two free throws with 13.9 seconds and then Harris stole the ball and drove in for a layup with a second left to ice the contest.

Karlie Samuelson had a career-high 18 points and four three-point goals. Julie Vanloo came off the bench to score 12 points for the Mystics.

“It wasn’t a pretty game,” White admitted. “For three quarters, we were pretty average. In the fourth quarter, we gutted it out and found a way to win. That is a tribute to our leaders and the toughness that (Thomas), (Bonner) and Bri Jones bring. Finding ways to get a win in this league is big. I am proud of them for finding a way.”

Connecticut 84, Washington 77
At Uncasville, Conn.
Washington (77) K. Samuelson 6-8 2-2 18, Austin 4-8 2-3 10, Dolson 3-7 0-0 9, Atkins 3-12 2-2 8, Sykes 0-1 2-2 2, Hines-Allen 2-4 2-2 7, Edwards 3-5 0-0 7, Vanloo 5-9 1-1 6, Walker-Kimbrough 5-9 1-1 12, Richards 2-3 1-2 5, Engstler 0-1 0-0 0. Totals 28-58 12-14 77
Connecticut (84) Bonner 9-19 4-4 22, Thomas 3-7 7-7 13, Jones 3-5 1-2 7, Carrington 7-18 7-7 21, Harris 2-7 1-1 5, Nelson-Ododa 3-3 2-3 8, Banham 0-4 0-0 0, Jefferson 2- 2-2 8, Mitchell 0-1 0-0 0. Totals 29-68 24-26 84
Washington (0-2) 20 16 20 21 — 77
Connecticut (2-0) 18 18 16 32 — 84
Three-point goals: Washington 9-22 (Samuelson 4-5, Dolson 3-5, Atkins 0-5, Sykes 0-2, Hines-Allen 1-2, Vanloo 1-4, Richards 0-1); Connecticut 2-20 (Bonner 0-6, Carrington 0-4, Harris 0-2, Banham 0-3, Jefferson 2-4, Mitchell 0-1)

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Connecticut

Unique Retailer Closes At Major Mall, Shutting Down Only CT Location: CT News

Published

21 hours ago

May 17, 2024

Press Room

Unique Retailer Closes At Major Mall, Shutting Down Only CT Location: CT News

Patch PM CT brings you the breaking and trending news stories from all across Connecticut each weeknight. Here are those stories:

A mall spokesperson confirmed the retailer with locations across the country has closed for good.>>>Read More.

An online petition has been launched to save the child care center, which will vacate its town-owned space at the end of the 2024-25 school year.>>>Read More.

A dog was discovered fastened to a tree, with a branch placed through its collar, police said.>>>Read More.

The nation’s leading non-alcoholic beer company has plans for “pop-up taprooms” at its location this summer.>>>Read More.

An employee was hospitalized after a customer threw a powdery substance at them at a store in the mall, according to police.>>>Read More.

If approved by regulators, the electricity new rate for residential customers receiving energy supply from Eversource would change.>>>Read More.

Other top stories:

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