Good and bad. A mixed bag. Two steps forward and … .
Readers of our business law blogs at Berdon, Young & Margolis will quickly get the point concerning Connecticut’s economy from reference to a host of conflicting numbers and data that have recently emerged.
Collectively, relevant evidence underscores a half-full, half-empty picture for how the state is commercially doing.
On the one hand, the Connecticut Department of Labor reported last week that the state’s work force contracted in July. Connecticut has lost an estimated 4,100 jobs thus far in 2019.
On the other hand, though, some relevant business numbers are flashing positive, which is a point that state officials understandably seek to spotlight and emphasize.
One commentator stresses that arguably alarming data are countered by “plenty of hiring activity.” He says the public needs to know that the labor market “is more dynamic” now than it has been in previous months. Researchers say that the recently falling job numbers are just a blip in what has otherwise been a steady period of job expansion across the state.
An executive with one Connecticut bank lender underscores that employers’ lean toward greater business automation systems — which is arguably a good thing — is at least temporarily impacting job-linked statistics.
The trend spells “investment in modernizing,” she says.
The Hartford Courant reports on a positive note that “the state’s private sector has recovered fully” from past challenges stemming from the so-called Great Recession of recent years.