Will Connecticut Recover? (ECB211014-P3)

Thursday, October 14, 2021

1:00 PM to 1:30 PM (Eastern Daylight Time)

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About the Program

For Connecticut, recovery is not from the disruptions of COVID-19. Connecticut never recovered from the Great Recession. The state employment failed to come back to the previous level of 2008; the quality of jobs in Connecticut declined sharply; real output (gross state product) shrank for years before a modest recovery, but in February 2020 it remained well below its previous high. No state economy performed worse; Connecticut’s neighbor all enjoyed robust recovery after 2009 in both employment and real output. Compounding the malaise in the state’s economy has been a sharp contraction in Connecticut’s workforce and what appears to be a profound loss of jobs among Connecticut residents, many of whom had shifted their employment out of state after 2013. That is consistent with Connecticut having had the second highest mortgage delinquency rate nationally for several years. Connecticut may now face a significant loss of population.

The keynote will explore the drivers behind Connecticut’s weak performance (whose roots go back to the 1990s), the national context, and possible paths forward. Will Connecticut, the heart of the American industrial revolution and long one of the nation’s richest and most successful states, change its current economic trajectory and restore its vitality and competitiveness?

CLE Credit: 0.5 CT (General)


<p> Fred V. Carstensen
UConn School of Business, Storrs