Connecticut Job Stats

Despiste the turmoil in the rest of the country, Connecticut has been fortunate to have not lost nearly the amount of jobs as other states, but some economists are predicting that will change soon and especially here in Fairfield County.

Don Klepper-Smith who is the Chairman of Governor Rell's economic advisory panel, predicts the state could lose 60,000 - 80,000 jobs over the coming year and most of the jobs will come from Fairfield County as a result of the layoffs associated with Wall Street. Until now, Connecticut's economy has faired well due to a good mix of industries. But Klepper-Smith believes it will not be as bad as the 1989 - 1992 recession in which over 160,000 jobs were lost in the state.

Friday, the US Labor Department reported that 240,000 jobs were lost nationally in October, bringing the unemployment rate to 6.5% from 6.1%. Data for the state shows a loss of 2,300 jobs in September which actually was a lower number than August and bringing the over-all percentage down to 6.1% for Connecticut. Also, while the country has lost almost 1 percent of the total jobs this year, Connecticut lost only a quarter of 1%.

Other economists predict less of a loss of jobs. Either way, we are going to see more job losses through the next two quarters at minimum.

Curious about the housing market? Go to http://www.HomesofFairfieldCounty.com

Writen by Victoria Lorusso