University of Connecticut |
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Connecticut Economic Analysis - May 2009How Deep the Hole: Holding Job Losses to 100,000? May 7, 2009:
If the Federal and international stimulus initiatives do not take hold by the
end of 2009, Connecticut may see a deepening recession with job losses hitting
110,000 or more by 2011, with no end in sight.
But if domestic and international stimulus packages take hold, generating a stronger national recovery, Connecticut employment losses would reach only 100,000 in mid-2010, then begin to recover. This will still be a painful contraction, with nearly twice the job losses of the last recession, but with less than two-thirds the losses of the early 1990s. Yet even the optimistic stimulus-driven Outlook suggests only a weak recovery for Connecticut in 2011 and 2012.
Unless Connecticut develops a coherent, effective economic development strategy, supported with significant strategic investments, it faces an increasingly difficult economic future. Read the Full Report.
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