.

Economist: State's Job Recovery Won't Begin Until at Least 2016

Don Klepper-Smith of Durham says Connecticut's recovery from the recession continues to move at a slow pace.

 

On Thursday, the state's Department of Labor reported that unemployment in Connecticut had fallen to 8.6 percent in December.

The figure, however, doesn't account for those who are unemployed but no longer looking work, economist Don Klepper-Smith told the New Haven Register.

The Durham resident, who serves as chief economist at DataCore Partners in New Haven, said Connecticut has only recovered one-quarter of the job losses in the three-and-a-half years since the recovery began.

"Even if we were to assume a ‘robust job scenario’ of roughly 2,000 new jobs each month going forward as we did in the 1980s, we’re still not likely to see full job recovery in Connecticut until mid-2016 at the earliest," he told the paper.

Klepper-Smith tells The Day of New London that the true unemployment rate in Connecticut is 14.4 percent.

Nationally, the official unemployment rate is 7.9 percent.

jane January 22, 2013 at 09:02 AM
If someone is not looking for work they are no longer unemployed. If you're not looking for work it means you don't feel you need to work. If we counted every stay at home adult our 'unemployment' would be about 35%.
REVMAN January 22, 2013 at 05:11 PM
What does Don Klepper-Smith of Durham according to OBAMA he saved the economy already.

Boards

More »
Got a question? Something on your mind? Talk to your community, directly.
Note Article
Just a short thought to get the word out quickly about anything in your neighborhood.
Share something with your neighbors.What's on your mind?What's on your mind?Make an announcement, speak your mind, or sell somethingPost something
See more »