Recent economic indicators suggest that Connecticut — like the nation as a whole — is either headed towards, or is currently experiencing, an economic recession. Employment levels have dipped sharply downward, unemployment has risen faster than the national rate, and incomes for many Connecticut residents have flat-lined or declined. Economic growth in Connecticut as measured by gross state product also has been slow in recent years compared to overall economic growth in the United States.
This short report examines these recent trends in Connecticut employment, unemployment, and income to assess the health of our state economy and to what extent recessionary symptoms are appearing at the state level.
