Escolar Documentos
Profissional Documentos
Cultura Documentos
ECONOMIC DIGEST
Vol.4 No.9 A joint publication of the Connecticut Department of Labor & the Connecticut Department of Economic and Community Development
Industr
Industryy Clusters ........................ 3 $25
Billions of 1992 Dollars
Services
Housing Update .......................... 3
Leading & Coincident Indicators 5 $20
Manufacturing
Economic Indicators ................ 6-8
$15
Compar ativ
Comparativ e Regional Data ........ 9
ative
Economic Indicator Trends ... 10-13 Govt
$10
Nonf ar
Nonfar
armm Empl. Estimates .... 14-19 Retail
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2 THE CONNECTICUT ECONOMIC DIGEST September 1999
Industry Shares of GSP
CT relative to U.S.
Industry Clusters
10%
8%
Human Resources
1982 1997
6%
I n addition to (1) strategic
location, (2) integration
U.S.=0
C ommissioner James F.
Abromaitis of the Connecticut
six out of Connecticut’s eight
counties continue to experience
obstacle to progress than
reality.
Department of Economic and growth exceeding last year’s
Community Development an- record level of housing permits.” Moreover, despite an undoubt-
nounced that Connecticut com- Reports from municipal edly undereducated, under-
munities authorized 977 new officials throughout the state skilled, and disproportionately
housing units in July 1999, a indicate that Tolland County with ill equipped for work popula-
24.7 percent decrease compared 125.0 percent showed the great- tion, research shows a mean-
to July of 1998 when 1,297 were est percentage increase in July ingful proportion of unem-
authorized. compared to the same month a ployed or underemployed
The Department further year ago. Middlesex County inner-city residents who are
indicated that the 977 units followed with a 72.1 percent ready and able to be good
permitted in July 1999 represent increase. employees. The inner-city
a decrease of 20.6 percent from New Haven County docu- workforce may be diverse and
the 1230 units permitted in June mented the largest number of complex, but the urban initia-
1999. The year-to-date permits new, authorized units in July tive is aimed at fostering the
are down 1.8 percent, from 6,610 with 227. Hartford County climate whereby the inner-city
through July 1998, to 6,491 followed with 166 units and residents’ talent and commit-
through July 1999. Fairfield County had 153 units. ment can build businesses that
“With the exception of 1998’s Ellington led all Connecticut become meaningful employers
record level, permits for July are communities with 50 units, and create wealth for the inner
at their highest level in five followed by Cheshire with 44 and city. Porter adds that as the
years,” Commissioner Abromaitis Hamden with 29. n awareness of inner city eco-
said. “I am pleased to note that nomic opportunities grows,
more will follow. n
For mor
moree infor mation on housing per
information permits,
mits, see tables on pages 21-22.
* Transportation & Public Utilities ** Finance, Insurance, & Real Estate Source: U.S. Department of Commerce, Bureau of Economic Analysis
rising rapidly, reaching a new output, even though its employ- sector share of GSP in Connecti-
peak in 1997. Retail trade ment share was less than one- cut relative to the nation. For
output fell during 1990 through tenth of total State employment. instance, the share of manufac-
1992, then steadily increased The services sector’s employment turing sector product in Con-
and regained its peak 1989 level share increased from 20.2 per- necticut in 1982 was 6.4 per-
in 1997. Despite falling in 1990 cent in 1982 to 30.7 percent in centage points higher than in the
and 1991, FIRE output contin- 1997, while its GSP share in- nation. By 1997, it had dropped
ued to soar to a new high in creased by only 2.7 percentage to a level just below the nation’s
1997, nearly doubling 1982’s points (18.1% to 20.8%). share. This confirms that Con-
level. The services industry Government’s job share was necticut, which used to be more
continued to produce more after maintained at 13 percent over manufacturing-dependent than
a setback in 1991. Manufactur- the years, but its output share the nation as a whole, is now
ing, after three years of decline, dropped from 12.2 percent in comparable to the U.S. Else-
bounced back strongly, its out- 1982 to 8.2 percent in 1997. where, we find an increasing
put reaching a new high in 1997. relevance and divergence from
the national norm in the FIRE
CT and U.S. sector. Unlike in the past, the
Industry Shar es
Shares Comparing Connecticut’s services sector contributes
As the table on page 2 shows, dependence on each industry relatively more to our economy
since 1982, manufacturing’s sector with the national average than it does to the nation’s.
share of Connecticut’s real GSP reveals some interesting differ-
dropped from nearly a quarter of ences. The table on page 2 Negative numbers indicate
the total output to 18.5 percent contains data on the industry sectors whose relative contribu-
in 1997. Construction’s share share of real GSP for both the tion to the State are less than
was the same in 1997 as it was State and nation for 1982 and their role nationally. TPU and
in 1982. Despite the decline in 1997. These data reveal changes retail trade, for example, are less
its employment share in the last both within regions and between of a factor in Connecticut than in
15 years, output in wholesale regions over time. For instance, the U.S. and the differences
trade actually has increased. manufacturing as a share of GSP between the two regions are
Even though TPU’s employment has dropped dramatically in increasing over time. The biggest
share was 4.6 percent in 1997, Connecticut, falling from 24.2 divergence from the U.S. average,
its output share was higher at percent in 1982 to 18.5 percent however, was in the government
6.4 percent. Retail trade’s em- in 1997, while the FIRE sector sector. Government declined in
ployment made up almost one- has increased its share of State its share of gross product by four
fifth of total State employment in output from 22.1 percent to 26.6 percentage points both nationally
1997, but its output share was percent. and in the State between 1982
less than 10 percent. FIRE, on and 1997, indicating a reduced
the other hand, commanded over The chart on page 3 also relative role in the economy at
a quarter of the State’s total shows the differences in industry both levels. n
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4 THE CONNECTICUT ECONOMIC DIGEST September 1999
LEADING AND COINCIDENT INDICATORS
105
LEADING INDEX 120
COINCIDENT INDEX
Peak
02/89
100
100
95
80 Peak
03/80 Trough
90 06/92
60 Peak Trough
85 05/74 01/83
40
80 Trough
09/75
75 20
72 74 76 78 80 82 84 86 88 90 92 94 96 98 72 74 76 78 80 82 84 86 88 90 92 94 96 98
The distance from peak to trough, indicated by the shaded areas, measures the duration of an employment cycle recession. The vertical scale in both
charts is an index with 1987=100.
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6 THE CONNECTICUT ECONOMIC DIGEST September 1999
ECONOMIC INDICATORS
Construction contracts were
B USINESS ACTIVITY
ACTIVITY
down 12.2 percent in July
Y/Y % YEAR TO DATE %
MONTH LEVEL CHG CURRENT PRIOR CHG compared with the same month
New Housing Permits JUL 1999 977 -24.7 6,491 6,610 -1.8 a year ago.
Electricity Sales (mil kWh) MAY 1999 2,215 -1.1 11,940 11,650 2.5
Retail Sales (Bil. $) APR 1999 2.87 -1.0 11.64 10.96 6.2
Construction Contracts
Index (1980=100) JUL 1999 280.1 -12.2 --- --- ---
New Auto Registrations JUL 1999 16,596 29.5 139,433 123,095 13.3
Air Cargo Tons JUN 1999 12,558 -0.7 70,649 68,363 3.3
Sources: Department of Economic and Community Development; U.S. Department of Energy, Energy Information
Administration; Connecticut Department of Revenue Services; F.W. Dodge; Connecticut Department of
Motor Vehicles; Connecticut Department of Transportation, Bureau of Aviation and Ports
B USINESS STAR
STARTS AND TERMINA
ARTS TIONS
TERMINATIONS Net business formation as
measured by starts minus
JUL % CHANGE YEAR TO DATE %
1999 M/M Y/Y CURRENT PRIOR CHG stops registered with the
STARTS Secretary of the State was up
Secretary of the State 1,691 -8.1 5.4 12,660 12,082 4.8 by 10,323 for the year through
Department of Labor 697 -15.0 3.1 6,403 6,103 4.9 July.
TERMINATIONS
Secretary of the State 295 -14.0 -1.0 2,337 2,256 3.6
Department of Labor 1,385 75.5 -18.5 7,840 8,191 -4.3
Sources: Connecticut Secretary of the State -- corporations and other legal entities
Connecticut Department of Labor -- unemployment insurance program registrations
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8 THE CONNECTICUT ECONOMIC DIGEST September 1999
COMPARATIVE REGIONAL DATA
All states in the region
NONFARM EMPLO
NONFARM YMENT
EMPLOYMENT
experienced job gains
JUL JUL CHANGE JUN
(Seasonally adjusted; 000s) 1999 1998 NO. % 1999 over the year.
Connecticut 1,670.1 1,649.3 20.8 1.3 1,665.2
Maine 583.7 570.0 13.7 2.4 583.8
Massachusetts 3,226.2 3,183.5 42.7 1.3 3,220.4
New Hampshire 600.4 586.5 13.9 2.4 598.3
New Jersey 3,870.2 3,800.9 69.3 1.8 3,864.7
New York 8,386.1 8,235.8 150.3 1.8 8,353.1
Pennsylvania 5,535.5 5,503.2 32.3 0.6 5,533.0
Rhode Island 465.7 459.9 5.8 1.3 462.8
Vermont 291.3 286.0 5.3 1.9 291.2
United States 128,745.0 125,808.0 2,937.0 2.3 128,435.0
Source: U.S. Department of Labor, Bureau of Labor Statistics
1,600
May 1,610.3 1,640.8 1,663.3
1,550 Jun 1,610.2 1,643.3 1,665.2
Jul 1,612.9 1,649.3 1,670.1
1,500
Aug 1,612.5 1,651.3
1,450 Sep 1,618.3 1,645.8
Oct 1,620.7 1,651.4
1,400
Nov 1,622.4 1,652.5
85 86 87 88 89 90 91 92 93 94 95 96 97 98 99
Dec 1,627.4 1,660.3
AVERAGE WEEKLY INITIAL CLAIMS (Seasonally adjusted) Month 1997 1998 1999
Jan 4,010 3,450 4,252
9,000
Feb 3,892 3,573 3,885
8,000 Mar 4,084 3,518 4,047
7,000 Apr 4,434 3,584 3,805
6,000 May 3,791 3,710 3,776
Jun 3,990 3,962 3,894
5,000
Jul 3,678 3,779 3,498
4,000 Aug 3,736 4,164
3,000 Sep 3,621 5,076
Oct 3,502 3,500
2,000
Nov 3,699 4,026
85 86 87 88 89 90 91 92 93 94 95 96 97 98 99
Dec 4,026 3,394
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10 THE CONNECTICUT ECONOMIC DIGEST September 1999
ECONOMIC INDICATOR TRENDS
REAL AVG MANUFACTURING HOURLY EARNINGS (Not seasonally adjusted) Month 1997 1998 1999
Jan $9.09 $9.27 $9.32
9.6
Feb 9.06 9.26 9.31
9.4 Mar 9.08 9.29 9.33
1982-84 Dollars
AVG MANUFACTURING WEEKLY HOURS (Not seasonally adjusted) Month 1997 1998 1999
Jan 42.7 42.7 41.8
45
Feb 42.1 42.9 41.9
44 Mar 42.4 42.7 42.4
43 Apr 42.5 42.5 42.4
42 May 42.4 42.9 42.6
Jun 42.5 42.9 42.4
41
Jul 41.9 42.2 42.5
40 Aug 42.0 42.1
39 Sep 43.0 41.9
Oct 42.8 42.8
38
Nov 43.1 43.2
85 86 87 88 89 90 91 92 93 94 95 96 97 98 99
Dec 43.4 43.2
HARTFORD HELP WANTED INDEX (Seasonally adjusted) Month 1997 1998 1999
Jan 35 35 33
120
Feb 36 38 36
100 Mar 34 37 34
Apr 36 37 34
1987=100
80
May 36 40 35
60 Jun 38 39 35
Jul 35 36 31
40
Aug 34 35
20 Sep 36 32
Oct 35 33
0
Nov 37 34
85 86 87 88 89 90 91 92 93 94 95 96 97 98 99
Dec 36 35
DOL NEWLY REGISTERED EMPLOYERS (12-month moving average) Month 1997 1998 1999
Jan 833 868 831
1,100
Feb 840 870 828
1,000 Mar 856 846 829
Apr 849 878 834
900
May 856 861 843
800 Jun 848 836 861
Jul 856 849 854
700
Aug 862 841
600 Sep 854 838
Oct 859 845
500
Nov 859 836
85 86 87 88 89 90 91 92 93 94 95 96 97 98 99
Dec 852 832
INSURANCE CARRIERS (SIC 63) EMPLOYMENT (Not seasonally adjusted) Month 1997 1998 1999
Jan 57.1 57.4 59.1
76
Feb 57.9 57.6 59.0
72 Mar 58.4 57.9 59.1
Apr 59.1 57.6 58.6
Thousands
68
May 59.7 57.8 58.7
64 Jun 58.8 58.6 59.1
Jul 58.0 59.7 59.3
60
Aug 58.4 60.0
56 Sep 58.5 59.6
Oct 58.2 59.4
52
Nov 58.2 59.4
85 86 87 88 89 90 91 92 93 94 95 96 97 98 99
Dec 58.8 59.6
OTHER FIN., INS., REAL EST. EMPLOYMENT (Not seasonally adjusted) Month 1997 1998 1999
Jan 46.7 50.1 53.1
58
Feb 47.2 50.6 53.3
56
Mar 47.7 51.4 53.8
54
Apr 47.9 51.2 54.1
Thousands
52
May 48.4 51.8 54.5
50
Jun 48.8 52.8 55.4
48
Jul 48.7 53.3 55.5
46
Aug 48.7 53.5
44
Sep 48.3 53.0
42
Oct 48.7 53.0
40
Nov 49.2 53.0
85 86 87 88 89 90 91 92 93 94 95 96 97 98 99
Dec 49.9 53.8
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12 THE CONNECTICUT ECONOMIC DIGEST September 1999
ECONOMIC INDICATOR TRENDS
NEW AUTO REGISTRATIONS PROCESSED (Not seasonally adjusted) Month 1997 1998 1999
30,000 Jan 12,436 20,753 24,372
Feb 14,401 12,604 16,524
25,000 Mar 23,952 16,313 23,425
Apr 18,038 23,500 18,173
20,000
May 16,364 17,300 20,089
15,000 Jun 16,464 19,813 20,254
Jul 10,386 12,812 16,596
10,000
Aug 11,210 14,992
5,000 Sep 11,485 24,688
Oct 14,563 14,106
0
Nov 13,884 15,806
85 86 87 88 89 90 91 92 93 94 95 96 97 98 99
Dec 15,416 19,373
NEW HOUSING PERMITS (Not seasonally adjusted) Month 1997 1998 1999
Jan 427 737 749
4,000
Feb 520 647 518
3,500
Mar 911 747 1,105
3,000 Apr 1,036 928 1,026
2,500 May 836 1,051 886
2,000 Jun 886 1,203 1,230
1,500 Jul 871 1,297 977
1,000 Aug 792 976
500 Sep 740 984
0 Oct 852 1,025
Nov 561 817
85 86 87 88 89 90 91 92 93 94 95 96 97 98 99
Dec 622 1,129
CONSTRUCTION CONTRACTS INDEX (12-month moving average) Month 1997 1998 1999
Jan 236.8 256.7 231.9
280
Feb 242.8 258.2 224.5
260 Mar 246.1 258.4 223.7
Apr 242.9 262.7 227.5
240
1980=100
Current month’s data are preliminary. Prior months’ data have been revised. All data are benchmarked to March 1998.
*Total excludes workers idled due to labor-management disputes. **Includes Indian tribal government employment.
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14 THE CONNECTICUT ECONOMIC DIGEST September 1999
NONFARM EMPLOYMENT ESTIMATES
BRIDGEPORT LMA
BRIDGEPORT Not Seasonally Adjusted
JUL JUL CHANGE JUN
1999 1998 NO. % 1999
DANB UR
ANBUR Y LMA
URY Not Seasonally Adjusted
JUL JUL CHANGE JUN
1999 1998 NO. % 1999
For further information on the Danbury Labor Market Area contact Arthur Famiglietti at (860) 263-6297.
Current month’s data are preliminary. Prior months’ data have been revised. All data are benchmarked to March 1998.
*Total excludes workers idled due to labor-management disputes.
For further information on the Danielson Labor Market Area contact Noreen Passardi at (860) 263-6299.
HARTFORD LMA
HARTFORD Not Seasonally Adjusted
JUL JUL CHANGE JUN
1999 1998 NO. % 1999
For further information on the Hartford Labor Market Area contact Arthur Famiglietti at (860) 263-6297.
Current month’s data are preliminary. Prior months’ data have been revised. All data are benchmarked to March 1998.
*Total excludes workers idled due to labor-management disputes.
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16 THE CONNECTICUT ECONOMIC DIGEST September 1999
NONFARM EMPLOYMENT ESTIMATES
LOWER RIVER LMA
LOWER Not Seasonally Adjusted
JUL JUL CHANGE JUN
1999 1998 NO. % 1999
Current month’s data are preliminary. Prior months’ data have been revised. All data are benchmarked to March 1998.
*Total excludes workers idled due to labor-management disputes.
STAMFORD LMA
STAMFORD Not Seasonally Adjusted
JUL JUL CHANGE JUN
1999 1998 NO. % 1999
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18 THE CONNECTICUT ECONOMIC DIGEST September 1999
NONFARM EMPLOYMENT ESTIMATES
TORRINGTON LMA
ORRINGTON Not Seasonally Adjusted
JUL JUL CHANGE JUN
1999 1998 NO. % 1999
For further information on the Torrington Labor Market Area contact Joseph Slepski at (860) 263-6278.
WATERB UR
TERBUR Y LMA
URY Not Seasonally Adjusted
JUL JUL CHANGE JUN
1999 1998 NO. % 1999
For further information on the Waterbury Labor Market Area contact Joseph Slepski at (860) 263-6278.
Current month’s data are preliminary. Prior months’ data have been revised. All data are benchmarked to March 1998.
*Total excludes workers idled due to labor-management disputes.
DANBURY LMA Civilian Labor Force 112,300 112,900 -600 -0.5 111,800
Employed 109,600 110,000 -400 -0.4 108,900
Unemployed 2,700 2,800 -100 -3.6 2,900
Unemployment Rate 2.4 2.5 -0.1 --- 2.6
DANIELSON LMA Civilian Labor Force 33,000 33,500 -500 -1.5 33,000
Employed 31,800 31,900 -100 -0.3 31,600
Unemployed 1,200 1,600 -400 -25.0 1,400
Unemployment Rate 3.6 4.8 -1.2 --- 4.3
HARTFORD LMA Civilian Labor Force 593,300 594,800 -1,500 -0.3 591,100
Employed 574,400 573,600 800 0.1 569,000
Unemployed 18,900 21,100 -2,200 -10.4 22,100
Unemployment Rate 3.2 3.6 -0.4 --- 3.7
LOWER RIVER LMA Civilian Labor Force 12,700 12,900 -200 -1.6 12,500
Employed 12,400 12,600 -200 -1.6 12,200
Unemployed 300 300 0 0.0 300
Unemployment Rate 2.2 2.6 -0.4 --- 2.4
NEW HAVEN LMA Civilian Labor Force 280,800 278,600 2,200 0.8 278,300
Employed 272,000 268,900 3,100 1.2 268,300
Unemployed 8,800 9,700 -900 -9.3 10,000
Unemployment Rate 3.1 3.5 -0.4 --- 3.6
NEW LONDON LMA Civilian Labor Force 159,900 158,400 1,500 0.9 156,800
Employed 154,900 152,100 2,800 1.8 151,300
Unemployed 5,100 6,300 -1,200 -19.0 5,600
Unemployment Rate 3.2 4.0 -0.8 --- 3.5
STAMFORD LMA Civilian Labor Force 201,000 201,400 -400 -0.2 198,200
Employed 197,000 196,800 200 0.1 193,400
Unemployed 4,000 4,500 -500 -11.1 4,800
Unemployment Rate 2.0 2.3 -0.3 --- 2.4
TORRINGTON LMA Civilian Labor Force 40,700 41,100 -400 -1.0 40,200
Employed 39,700 40,100 -400 -1.0 39,200
Unemployed 1,000 1,000 0 0.0 1,100
Unemployment Rate 2.4 2.4 0.0 --- 2.6
WATERBURY LMA Civilian Labor Force 117,800 119,300 -1,500 -1.3 118,200
Employed 113,400 114,400 -1,000 -0.9 113,100
Unemployed 4,400 4,900 -500 -10.2 5,100
Unemployment Rate 3.7 4.1 -0.4 --- 4.3
UNITED STATES Civilian Labor Force 141,119,000 139,336,000 1,783,000 1.3 140,666,000
Employed 134,800,000 132,769,000 2,031,000 1.5 134,395,000
Unemployed 6,319,000 6,567,000 -248,000 -3.8 6,271,000
Unemployment Rate 4.5 4.7 -0.2 --- 4.5
Current month’s data are preliminary. Prior months’ data have been revised. All data are benchmarked to March 1998.
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20 THE CONNECTICUT ECONOMIC DIGEST September 1999
MANUFACTURING HOURS AND EARNINGS
AVG WEEKLY EARNINGS AVG WEEKLY HOURS AVG HOURLY EARNINGS
JUL CHG JUN JUL CHG JUN JUL CHG JUN
(Not seasonally adjusted) 1999 1998 Y/Y 1999 1999 1998 Y/Y 1999 1999 1998 Y/Y 1999
MANUFACTURING $649.40 $628.36 $21.04 $645.75 42.5 42.2 0.3 42.4 $15.28 $14.89 $0.39 $15.23
DURABLE GOODS 666.93 642.36 24.57 666.93 43.0 42.4 0.6 43.0 15.51 15.15 0.36 15.51
Lumber & Furniture 506.51 496.27 10.24 492.38 42.6 42.2 0.4 41.1 11.89 11.76 0.13 11.98
Stone, Clay and Glass 604.78 617.42 -12.65 642.16 42.5 45.6 -3.1 46.0 14.23 13.54 0.69 13.96
Primary Metals 662.94 623.09 39.85 630.75 45.5 43.3 2.2 43.5 14.57 14.39 0.18 14.50
Fabricated Metals 595.78 583.08 12.70 605.32 42.8 41.5 1.3 42.9 13.92 14.05 -0.13 14.11
Machinery 678.69 677.54 1.15 710.22 43.9 43.6 0.3 44.5 15.46 15.54 -0.08 15.96
Electrical Equipment 546.13 507.99 38.14 530.01 42.5 41.0 1.5 41.7 12.85 12.39 0.46 12.71
Trans. Equipment 869.19 812.53 56.67 857.60 43.7 42.9 0.8 43.8 19.89 18.94 0.95 19.58
Instruments 606.96 587.97 18.99 602.76 40.9 42.3 -1.4 41.2 14.84 13.90 0.94 14.63
Miscellaneous Mfg 595.60 596.73 -1.13 632.05 38.6 40.9 -2.3 41.5 15.43 14.59 0.84 15.23
NONDUR. GOODS 604.40 597.08 7.33 595.32 41.2 41.9 -0.7 41.0 14.67 14.25 0.42 14.52
Food 524.91 544.62 -19.71 531.22 42.4 43.5 -1.1 43.4 12.38 12.52 -0.14 12.24
Textiles 479.04 478.38 0.66 485.07 40.7 40.2 0.5 40.9 11.77 11.90 -0.13 11.86
Apparel 326.34 331.74 -5.40 339.69 37.0 37.4 -0.4 39.0 8.82 8.87 -0.05 8.71
Paper 721.23 707.94 13.29 719.28 43.5 46.0 -2.5 43.2 16.58 15.39 1.19 16.65
Printing & Publishing 611.52 594.40 17.12 571.81 39.2 39.6 -0.4 37.3 15.60 15.01 0.59 15.33
Chemicals 777.29 821.19 -43.90 769.27 43.4 45.8 -2.4 43.0 17.91 17.93 -0.02 17.89
Rubber & Misc. Plast. 536.76 487.63 49.13 551.68 42.0 40.4 1.6 42.7 12.78 12.07 0.71 12.92
CONSTRUCTION 865.16 835.39 29.77 856.26 43.0 42.6 0.4 42.6 20.12 19.61 0.51 20.10
LMAs AVG WEEKLY EARNINGS AVG WEEKLY HOURS AVG HOURLY EARNINGS
JUL CHG JUN JUL CHG JUN JUL CHG JUN
MANUFACTURING 1999 1998 Y/Y 1999 1999 1998 Y/Y 1999 1999 1998 Y/Y 1999
Bridgeport $631.05 $631.58 -$0.53 $630.80 40.4 40.8 -0.4 41.5 $15.62 $15.48 $0.14 $15.20
Danbury 621.26 641.02 -19.76 622.44 41.5 43.4 -1.9 42.0 14.97 14.77 0.20 14.82
Danielson 507.47 450.00 57.47 504.71 40.5 38.2 2.3 41.1 12.53 11.78 0.75 12.28
Hartford 687.23 676.08 11.15 693.36 42.5 43.2 -0.7 42.8 16.17 15.65 0.52 16.20
Lower River 534.89 533.48 1.41 559.94 40.8 40.6 0.2 41.6 13.11 13.14 -0.03 13.46
New Haven 621.80 609.24 12.56 627.45 41.9 41.7 0.2 42.8 14.84 14.61 0.23 14.66
New London 674.86 661.30 13.56 669.80 42.1 42.5 -0.4 42.5 16.03 15.56 0.47 15.76
Stamford 548.23 545.48 2.75 533.41 39.9 39.3 0.6 39.6 13.74 13.88 -0.14 13.47
Torrington 562.00 538.47 23.53 577.55 40.2 42.2 -2.0 41.7 13.98 12.76 1.22 13.85
Waterbury 621.22 600.48 20.74 629.64 43.2 42.8 0.4 44.0 14.38 14.03 0.35 14.31
Current month’s data are preliminary. Prior months’ data have been revised. All data are benchmarked to March 1998.
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22 THE CONNECTICUT ECONOMIC DIGEST September 1999
TECHNICAL NOTES
BUSINESS ST AR TS AND TERMINA
STAR TIONS
TERMINATIONS
DOL newly registered employers are those businesses newly registered with the Labor Department’s unemployment insurance program
(including reopened accounts) during the month. DOL discontinued employers are those accounts that are terminated due to inactivity (no
employees) or business closure. Registrations and terminations of business entities as recorded with the Secretary of the State are an indica-
tion of new business formation and activity. These registrations include limited liability companies, limited liability partnerships, and foreign-
owned (out-of-state) and domestic-owned (in-state) corporations.
INITIAL CLAIMS
Average weekly initial claims are calculated by dividing the total number of new claims for unemployment insurance received in the month by
the number of weeks in the month. A minor change in methodology took effect with data published in the March 1997 issue of the DIGEST.
Data have been revised back to January 1980.
INSURED UNEMPLOYMENT RA TE
RATE
Primarily a measure of unemployment insurance program activity, the insured unemployment rate is the 13-week average of the number of
people claiming unemployment benefits divided by the number of workers covered by the unemployment insurance system.
The Bureau of Labor Statistics has identified the five towns of Canaan, Kent, North Canaan, Salisbury and Sharon as a separate area for
reporting labor force data. For the convenience of our data users, data for these towns are included in the Torrington Labor Market Area. For
the same purpose, data for the town of Thompson, which is officially part of the Worcester Metropolitan Statistical Area, are included in the
Danielson Labor Market Area. Also, data for Hopkinton and Westerly, Rhode Island are included in the New London Labor Market Area.
UI COVERED W AGES
WAGES
UI covered wages is the total amount paid to those employees who are covered under the Connecticut’s Unemployment Insurance (UI) law for
services performed during the quarter. The fluctuations in the 1992-93 period reflect the effect of the changes in the tax law and the massive
restructuring in the state’s economy.
Leading Employment Index ........... -1.6 Business Activity Tour ism and Travel
ourism
Coincident Employment Index ..... +1.9 New Housing Permits .................... -24.7 Tourism Inquiries .......................... +10.9
Electricity Sales ............................... -1.1 Tourism Info Centers ....................... -4.8
Total Nonfar
Nonfar
armm Employment .......... +1.3
Employment Retail Sales ..................................... -1.0 Attraction Visitors ............................ +2.3
Construction Contracts Index ........ -12.2 Hotel-Motel Occupancy .................. -4.5*
Unemployment ............................ -0.4* New Auto Registrations ................ +29.5 Air Passenger Count ................... +12.6
Labor Force ...................................... 0.0 Air Cargo Tons ................................. -0.7
Employed ....................................... +0.4 Emplo yment Cost Inde
Employment Index x (U
(U.S.S .)
.S.)
Unemployed .................................. -13.2 Total ................................................ +3.3
Business Star ts
Starts Wages & Salaries ........................... +3.6
Aver age Weekly Initial Claims ....... -7.4
erage Secretary of the State ..................... +5.4 Benefit Costs .................................. +2.5
Help Wanted Inde x -- Har
Index tf
Hartf ord ..... -13.9
tford Dept. of Labor ................................ +3.1
Aver age Ins
erage Ins.. Unempl. Rate ........ +0.03* Consumer Pr ice Inde
Price Index x
Business Ter minations
erminations U.S. City Average ........................... +2.1
Aver age Weekly Hours
erage Hours,, Mfg ......... +0.7 Secretary of the State ...................... -1.0 Northeast Region ........................... +2.1
Aver age Hour
erage ly Ear
Hourly nings
nings,, Mfg ...... +2.6
Earnings Dept. of Labor ............................... -18.5 NY-NJ-Long Island ......................... +2.1
Aver age Weekly Ear
erage nings
nings,, Mfg ..... +3.3
Earnings Boston-Brockton-Nashua ............... +2.7
CT Mfg. Production Index ............. +2.6 Consumer Confidence
Production Worker Hours ................ -2.4 State Tax Collections ................... -16.8 U.S. ................................................. -1.2
Industrial Electricity Sales ............... +3.2 Corporate Tax .................................... NA New England ................................. +7.4
Personal Income Tax ...................... -10.9
Personal Income .......................... +5.2 Real Estate Conveyance Tax ........... -0.3 Interest Rates
UI Covered Wages ........................ +5.7
Cov Sales & Use Tax ............................ +48.3 Prime ............................................ -0.50*
Conventional Mortgage ............... +0.68*
*Percentage point change; **Less than 0.05 percent; NA = Not Available
THE CONNECTICUT
ECONOMIC DIGEST
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The Connecticut Departments of Labor and
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