ECONOMIC DIGEST THE CONNECTICUT. Connecticut Exports: 2015 in Review APRIL April In February... IN THIS ISSUE...

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1 THE CONNECTICUT ECONOMIC DIGEST Vol.21 No.4 A joint publication of the Connecticut Department of Labor & the Connecticut Department of Economic and Community Development APRIL 2016 IN THIS ISSUE... Connecticut Exports: 2015 in Review , 5 Occupational Profile: Diagnostic Medical Sonographer... 4 Economic Indicators on the Overall Economy... 5 Individual Data Items Comparative Regional Data... 9 Economic Indicator Trends Help Wanted OnLine Business and Employment Changes Announced in the News Media Labor Market Areas: Nonfarm Employment Sea. Adj. Nonfarm Employment...14 Labor Force Hours and Earnings Cities and Towns: Labor Force Housing Permits Technical Notes At a Glance Connecticut Exports: 2015 in Review By Laura Jaworski, Office of International and Domestic Business F Development, DECD or the first time since 2009, U.S. exports decreased. The weak global economy and strong U.S. dollar, which made U.S. exports more expensive to foreign buyers, brought challenges to the export community and resulted in export declines across the board. 1 To assess Connecticut s export status, a review of several key categories follows. Annual Export Figures In 2015, Connecticut s commodity exports totaled $15.25 billion, a 4.24% decrease from the $15.93 billion registered in Please refer to Chart 1. It is important to note that, as significant as commodity exports are, they omit service exports, for which the collection of data is inexact and unavailable at the state level. All U.S. states face this data gap. This means that export figures for a state like Connecticut- with a large concentration of insurance, financial and other servicesunderstate the true magnitude of its overall export value. Data indicates that of the CHART 1: Connecticut s Exports, ($ in billions) In February... Nonfarm Employment Connecticut... 1,685,400 Change over month % Change over year % United States ,560,000 Change over month % Change over year % 10 8 Unemployment Rate Connecticut % United States % Consumer Price Index United States Change over year %

2 THE CONNECTICUT ECONOMIC DIGEST The Connecticut Economic Digest is published monthly by the Connecticut Department of Labor, Office of Research, and the Connecticut Department of Economic and Community Development. Its purpose is to regularly provide users with a comprehensive source for the most current, up-to-date data available on the workforce and economy of the state, within perspectives of the region and nation. The annual subscription is $50. Send subscription requests to: The Connecticut Economic Digest, Connecticut Department of Labor, Office of Research, 200 Folly Brook Boulevard, Wethersfield, CT Make checks payable to the Connecticut Department of Labor. Back issues are $4 per copy. The Digest can be accessed free of charge from the DOL Web site. Articles from The Connecticut Economic Digest may be reprinted if the source is credited. Please send copies of the reprinted material to the Managing Editor. The views expressed by the authors are theirs alone and may not reflect those of the DOL or DECD. Managing Editor: Jungmin Charles Joo Associate Editor: Sarah C. Pilipaitis We would like to acknowledge the contributions of many DOL Research and DECD staff and Rob Damroth to the publication of the Digest. Connecticut Department of Labor Scott D. Jackson, Commissioner Kurt Westby, Deputy Commissioner Andrew Condon, Ph.D., Director Office of Research 200 Folly Brook Boulevard Wethersfield, CT Phone: (860) Fax: (860) dol.econdigest@ct.gov Website: Connecticut Department of Economic and Community Development Catherine Smith, Commissioner Tim Sullivan, Deputy Commissioner 505 Hudson Street Hartford, CT Phone: (860) Fax: (860) decd@ct.gov Website: 5,728 companies who exported from Connecticut in 2013, 89% were small and medium-sized enterprises with fewer than 500 employees. 3 Connecticut s ranking among the states held steady at 27 th in Texas, California, Washington, New York and Illinois were the top five export states in 2015, ranked in terms of export commodity dollars. The only states that experienced marginal increases in 2015 were South Carolina, Kentucky, Arizona, Utah, Nevada, Delaware, Maine and the District of Columbia. U.S. commodity exports totaled more than $1.50 trillion in 2015, representing a 7.15% decrease over the $1.62 trillion recorded in In New England in 2015, only Massachusetts exports value ranked higher than Connecticut s, as has been the case since As a regional trading block, New England s commodity exports totaled more than $52.49 billion in 2015, a 6.78% decrease from Connecticut Export Composition Connecticut s top export commodities mirror the state s historic strengths and there is a demonstrated consistency among the state s top exports was no exception to such. In 2015 at the two-digit Harmonized System (HS) commodity code level, Connecticut s top five export commodities were (1) aircraft, spacecraft and parts thereof; (2) industrial machinery, including computers; (3) electric machinery, sound equipment, TV equipment, parts; (4) optic, photo, medical or surgical instruments and (5) copper and articles thereof. Please refer to Table A. Drilling down an additional layer into the HS commodity codes reveals the transportation sector s dominance of Connecticut exports. At the four-digit HS level, the state s top exports included civilian aircraft, engines and parts and turbojets, turbopropellers and other gas turbines. To put these figures into national and regional context, the U.S. and New England states top export commodities were similar to Connecticut s. In 2015, the top five U.S. export commodities were (1) industrial machinery, including computers; (2) electric machinery, sound equipment, TV equipment, parts; (3) aircraft, spacecraft and parts thereof; (4) vehicles, except railway or tramway, and parts and (5) mineral fuel, oil, bitumin substances, mineral wax. In 2015, the New England region s top five export commodities were (1) electric machinery, sound equipment, TV equipment, parts; (2) industrial machinery, including computers; (3) aircraft, spacecraft, and parts thereof; (4) optic, photo, medical or surgical instruments and (5) natural or cultured pearls, precious stones, precious metal clad materials, imitation jewelry and coins. State Export Partners The state s top five commodity export destinations were France, Germany, Canada, the United Arab Emirates (UAE) and Mexico. Please refer to Table B. Despite a 12.60% decrease in 2015, France remained the #1 destination for Connecticut commodity exports, with $1.93 billion in state exports recorded in Connecticut exported over $1 2 THE CONNECTICUT ECONOMIC DIGEST

3 Table A: 2015 Connecticut Exports by Commodity Rank Description ANNUAL 2014 ANNUAL 2015 % TOTAL ALL COMMODITIES 15,930,667,663 15,255,894, Aircraft, Spacecraft, And Parts Thereof 6,946,448,340 6,733,094, Industrial Machinery, Including Computers 2,251,943,035 2,011,170, Electric Machinery Etc; Sound Equip; Tv Equip; Pts 1,623,143,166 1,328,232, Optic, Photo Etc, Medic Or Surgical Instrments Etc 1,202,104,356 1,189,597, Copper And Articles Thereof 373,489, ,553, Plastics And Articles Thereof 484,307, ,495, Special Classification Provisions, Nesoi 292,788, ,883, Organic Chemicals 97,807, ,670, Inorg Chem; Prec & Rare-Earth Met & Radioact Compd 232,622, ,496, Vehicles, Except Railway Or Tramway, And Parts Etc 174,503, ,726, Table B: Connecticut Exports by Partner Country Rank Description ANNUAL 2014 ANNUAL 2015 % TOTAL ALL PARTNER COUNTRIES 15,930,667,663 15,255,894, France 2,210,749,225 1,932,116, Germany 1,711,873,865 1,652,983, Canada 1,913,691,439 1,622,647, United Arab Emirates 1,141,955,865 1,592,052, Mexico 1,280,694,019 1,319,616, China 907,301,045 1,029,900, United Kingdom 718,910, ,397, Japan 539,841, ,481, Netherlands 489,495, ,750, Korea, Republic Of 658,046, ,357, billion to each of its remaining top five trade partners in Among the state s top ten partners, the U.A.E. experienced the greatest growth in Connecticut commodity exports at 39.41%. Connecticut exports to the U.A.E., a market that has been a significant destination for state exports the past few years, were dominated by aircraft, spacecraft and parts thereof; industrial machinery, including, computers; electric machinery, sound equipment, TV equipment, with the greatest percentage growth coming in pharmaceutical products. Rounding out the state s top ten trade partners in 2015 were China, the United Kingdom, Japan, the Netherlands and South Korea, ranking six through ten, respectively. In 2015, the top five destinations for U.S. commodity exports were Canada, Mexico, China, Japan and the United Kingdom, while the top five destinations for the New England states were Canada, Mexico, Germany, China and France. Challenges The cultivation of international markets is important, but there are concerns and circumstances that present challenges to exporters. Chief among them are the state of the global economy and its correlation to demand and consumer spending. -continued on page 5- THE CONNECTICUT ECONOMIC DIGEST 3

4 Occupational Profile: Diagnostic Medical Sonographer By Lisa D Acunto, Research Analyst, DOL D iagnostic medical sonographers operate special imaging equipment to create images or conduct tests that help physicians assess and diagnose medical conditions. They specialize in creating images of the body s organs and tissues known as sonograms or ultrasounds. High frequency sound waves are used by a diagnostic sonographer to produce images of the inside of the body. An instrument called an ultrasound transducer is used on the parts of the patient s body that are being examined. Pulses of sound are emitted from the transducer that bounce back and cause echoes. Those echoes are then sent to the ultrasound machine, which processes them and displays them as images used by physicians for diagnosis. 1 There are many different types of diagnostic medical sonographers. The following are some examples. Imaging the female reproductive system is the specialty of obstetric and gynecologic sonographers. Pregnant women are imaged to track the baby s growth and health and detect any congenital birth defects. Breast sonographers image a patient s breast tissues to confirm cysts and tumors. Musculoskeletal sonographers take images of joints, muscles, tendons and ligaments. They often assist during surgical procedures with ultrasound guidance for injections. Taking images of the abdominal cavity and nearby organs (kidney, liver, gallbladder, pancreas or spleen) is the job of an abdominal sonographer. Cardiac sonographers, also known as echocardiographers, use ultrasound to image the patient s heart to help diagnose cardiac conditions. Vascular technologists or sonographers create images of blood vessels which helps physicians diagnose blood flow disorders. 1 Diagnostic medical sonographers need either an associate s degree or postsecondary certificate. Professional certification is also a requirement of many employers. Colleges and universities offer associate s and bachelor s degree programs and many hospitals offer one year certificate programs. Diagnostic medical sonographers can earn certification by graduating from an accredited program and then passing an exam. 1 Employment of diagnostic medical sonographers is expected to grow much faster than the average for all occupations. It is expected to grow 26 percent from 2014 to In Connecticut, the average annual salary is $76,179, and the nationwide average is $68,390. 2, 3 The location quotient is the ratio of the area concentration of occupational employment to the national average concentration. The table below shows that Connecticut is among the top five states with the highest location quotient in the nation. Connecticut s location quotient is 1.45, meaning that Connecticut s population of diagnostic medical sonographers is 45% higher than the national average. 3 Ultrasound procedures are often less expensive than other imaging procedures. Medical facilities will continue using ultrasound to replace more invasive and costly procedures. It is often used as a first line tool for diagnosis and less expensive than other imaging technologies. Insurance companies encourage the use of these noninvasive imaging techniques over invasive ones that are more costly. Diagnostic medical sonographers will continue to be needed to provide an alternative to radiation imaging procedures. 1 1 Bureau of Labor Statistics, U.S. Department of Labor, Occupational Outlook Handbook, Edition 2 Connecticut Department of Labor, Occupational Employment & Wages, 1 st Quarter Bureau of Labor Statistics, Occupational Employment and Wages, May 2014 States with Highest Concentration of Jobs and Location Quotients for Diagnostic Medical Sonographers Employment Location Quotient Hourly Mean Wage Annual Mean Wage Rhode Island $34.67 $72,100 South Dakota $26.73 $55,610 Connecticut 1, $36.12 $75,130 Tennessee 1, $29.18 $60,690 Idaho $29.90 $62,190 Source: Bureau of Labor Statistics, Occupational Employment and Wages, May THE CONNECTICUT ECONOMIC DIGEST

5 OCCUPATIONAL PROFILE: Physician Assistants -continued from page 3- Unpredictable international events affect markets and export growth as well. Economic and geo-political circumstances that may impact trade include falling oil prices, the Eurozone market and China s economic slowdown. Regulatory barriers present a challenge as well, as navigating the complex issue of export compliance and licensing requires time, effort and resources. State Trade Expansion Promotion (STEP) Grant The state and federal government continue to work to develop export opportunities. To that end, the Connecticut Department of Economic and Community Development (DECD) administers a State Trade Expansion Promotion (STEP) grant award from the U.S. Small Business Administration (SBA). The STEP program goal is to increase the value of exports for small businesses currently exporting and grow the number of exporters. Working in conjunction with partners such as the Connecticut Center for Advanced Technology (CCAT), U.S. Department of Commerce (USDOC), Small Business Development Center (SBDC), and others, DECD directs STEP funds towards company participation in various export activities. For more information about DECD s international programs and services, including STEP grant activities, eligibility standards, program guidelines and application procedures, please contact Laura Jaworski at or laura.jaworski@ct.gov. 1 U.S. exports drop for first time since Great Recession, CNN Money, February 5, Data Source: World Institute for Strategic Economic Research (WISER), 3 Connecticut: Exports, Jobs, and Foreign Investment, U.S. Department of Commerce International Trade Administration, July Omitting Puerto Rico and various export sales attributed to unknown state, Connecticut actually ranked 25 th. In the state export data series, low-value export estimates are credited to unknown state, as export statistics are collected only for export commodity shipments over $2,500. GENERAL ECONOMIC INDICATORS 4Q 4Q CHANGE 3Q (Seasonally adjusted) NO. % 2015 General Drift Indicator (1996=100)* Leading Coincident Farmington Bank Business Barometer (1992=100)** Philadelphia Fed's Coincident Index (July 1992=100)*** Jan Jan Dec (Seasonally adjusted) Connecticut United States Sources: *Dr. Steven P. Lanza, University of Connecticut **Farmington Bank ***Federal Reserve Bank of Philadelphia General Drift Indicators are composite measures of the four-quarter change in three coincident (Connecticut Manufacturing Production Index, nonfarm employment, and real personal income) and three leading (housing permits, manufacturing average weekly hours, and initial unemployment claims) economic variables, and are indexed so 1996 = 100. The Farmington Bank Business Barometer is a measure of overall economic growth in the state of Connecticut that is derived from non-manufacturing employment, real disposable personal income, and manufacturing production. The Philadelphia Fed s Coincident Index summarizes current economic condition by using four coincident variables: nonfarm payroll employment, average hours worked in manufacturing, the unemployment rate, and wage and salary disbursements deflated by the consumer price index (U.S. city average). THE CONNECTICUT ECONOMIC DIGEST 5

6 STATE ECONOMIC INDICATORS Total nonfarm employment increased over the year. Average weekly initial claims fell from a year ago. The production worker weekly earnings rose over the year. EMPLOYMENT BY INDUSTRY SECTOR (Seasonally adjusted; 000s) NO. % 2016 TOTAL NONFARM 1, , ,681.2 Natural Res & Mining Construction Manufacturing Trade, Transportation & Utilities Information Financial Activities Professional and Business Services Education and Health Services Leisure and Hospitality Other Services Government* Source: Connecticut Department of Labor UNEMPLOYMENT MANUFACTURING ACTIVITY * Includes Native American tribal government employment (Seasonally adjusted) NO. % 2016 Labor Force, resident (000s) 1, , ,892.3 Employed (000s) 1, , ,788.5 Unemployed (000s) Unemployment Rate (%) Labor Force Participation Rate (%) Employment-Population Ratio (%) Average Weekly Initial Claims 3,884 4, ,379 Avg. Insured Unemp. Rate (%) Q2015 U-6 Rate (%) Sources: Connecticut Department of Labor; U.S. Bureau of Labor Statistics Dec (Not seasonally adjusted) NO. % Production Worker Avg Wkly Hours Prod. Worker Avg Hourly Earnings Prod. Worker Avg Weekly Earnings 1, , CT Mfg. Prod. Index, NSA (2009=100) Production Worker Hours (000s) 4,067 3, , Industrial Electricity Sales (mil kwh)* CT Mfg. Prod. Index, SA (2009=100) Sources: Connecticut Department of Labor; U.S. Department of Energy *Latest two months are forecasted. Personal income for third quarter 2016 is forecasted to increase 2.8 percent from a year earlier. INCOME (Seasonally adjusted) 3Q* 3Q CHANGE 2Q* (Annualized; $ Millions) NO. % 2016 Personal Income $250,549 $243,679 6, $248,813 UI Covered Wages $109,699 $107,276 2, $109,089 Source: Bureau of Economic Analysis *Forecasted by Connecticut Department of Labor 6 THE CONNECTICUT ECONOMIC DIGEST

7 ECONOMIC INDICATORS BUSINESS ACTIVITY Y/Y % YEAR TO DATE % MONTH LEVEL CHG CURRENT PRIOR CHG New Housing Permits* Feb Electricity Sales (mil kwh) Jan , ,546 2, Construction Contracts Index (1980=100) Feb New Auto Registrations Feb , ,996 25, Exports (Bil. $) 4Q S&P 500: Monthly Close Feb , STATE S&P 500 Index fell over the year. Sources: Connecticut Department of Economic and Community Development; U.S. Department of Energy, Energy Information Administration; Connecticut Department of Revenue Services; F.W. Dodge; Connecticut Department of Motor Vehicles; Wisertrade.org * Estimated by the Bureau of the Census BUSINESS STARTS AND TERMINATIONS Y/Y % YEAR TO DATE % MO/QTR LEVEL CHG CURRENT PRIOR CHG STARTS Secretary of the State Feb , ,547 3, Department of Labor 3Q , ,267 6, TERMINATIONS Secretary of the State Feb ,879 1, Department of Labor 3Q , ,798 5, Sources: Connecticut Secretary of the State; Connecticut Department of Labor Net business formation, as measured by starts minus stops registered with the Department of Labor, was up over the year. STATE REVENUES YEAR TO DATE Feb Feb % % (Millions of dollars) CHG CURRENT PRIOR CHG TOTAL ALL REVENUES* 1, , , , Corporate Tax Personal Income Tax , , Real Estate Conv. Tax Sales & Use Tax Gaming Payments** Total all revenues were up from a year ago. Sources: Connecticut Department of Revenue Services; Division of Special Revenue *Includes all sources of revenue; Only selected sources are displayed; Most July receipts are credited to the prior fiscal year and are not shown. **See page 23 for explanation. TOURISM AND TRAVEL Y/Y % YEAR TO DATE % MONTH LEVEL CHG CURRENT PRIOR CHG Info Center Visitors Feb , ,514 11, Major Attraction Visitors* Feb , , , Air Passenger Count Feb , , , Gaming Slots (Mil.$)** Feb , , , Gaming slots rose over the year. Sources: Connecticut Department of Transportation, Bureau of Aviation and Ports; Connecticut Commission on Culture and Tourism; Division of Special Revenue *Attraction participants expanded from 6 to 23 beginning with July 2014 data **See page 23 for explanation THE CONNECTICUT ECONOMIC DIGEST 7

8 STATE ECONOMIC INDICATORS Compensation cost for the nation rose 1.9 percent over the year. EMPLOYMENT COST INDEX Seasonally Adjusted Not Seasonally Adjusted Private Industry Workers Dec Sep 3-Mo Dec Dec 12-Mo (Dec = 100) % Chg % Chg UNITED STATES TOTAL Wages and Salaries Benefit Costs NORTHEAST TOTAL Wages and Salaries Source: U.S. Department of Labor, Bureau of Labor Statistics U.S. inflation rate was up by 1.0 percent over the year. CONSUMER NEWS % CHANGE (Not seasonally adjusted) MO/QTR LEVEL Y/Y P/P* CONSUMER PRICES CPI-U ( =100) U.S. City Average Feb Purchasing Power of $ ( =$1.00) Feb Northeast Region Feb NY-Northern NJ-Long Island Feb Boston-Brockton-Nashua** Jan CPI-W ( =100) U.S. City Average Feb Sources: U.S. Department of Labor, Bureau of Labor Statistics; The Conference Board *Change over prior monthly or quarterly period **The Boston CPI can be used as a proxy for New England and is measured every other month. Conventional mortgage rate fell to 3.66 percent over the month. INTEREST RATES Feb Jan Feb (Percent) Prime Federal Funds Month Treasury Bill Month Treasury Bill Year Treasury Note Year Treasury Note Year Treasury Note Year Treasury Note Year Treasury Note Year Treasury Note Conventional Mortgage Sources: Federal Reserve; Federal Home Loan Mortgage Corp. 8 THE CONNECTICUT ECONOMIC DIGEST

9 COMPARATIVE REGIONAL DATA STATE NONFARM EMPLOYMENT (Seasonally adjusted; 000s) NO. % 2016 Connecticut 1, , ,681.2 Maine Massachusetts 3, , ,516.6 New Hampshire New Jersey 4, , ,057.1 New York 9, , ,298.5 Pennsylvania 5, , ,855.1 Rhode Island Vermont United States 143, , , ,318.0 All nine states in the region gained jobs over the year. Source: U.S. Department of Labor, Bureau of Labor Statistics LABOR FORCE (Seasonally adjusted; 000s) NO. % 2016 Connecticut 1, , ,892.3 Maine Massachusetts 3, , ,563.2 New Hampshire New Jersey 4, , ,561.9 New York 9, , ,741.8 Pennsylvania 6, , ,449.8 Rhode Island Vermont United States 158, , , ,335.0 Four states posted increases in the labor force from last year. Source: U.S. Department of Labor, Bureau of Labor Statistics UNEMPLOYMENT RATES Feb Feb Jan (Seasonally adjusted) CHANGE 2016 Connecticut Maine Massachusetts New Hampshire New Jersey New York Pennsylvania Rhode Island Vermont United States All states showed a decrease in its unemployment rate over the year. Source: U.S. Department of Labor, Bureau of Labor Statistics THE CONNECTICUT ECONOMIC DIGEST 9

10 STATE ECONOMIC INDICATOR TRENDS TOTAL NONFARM EMPLOYMENT, SA, 000s Month ,740 1,700 1,660 1,620 1,580 1,540 1, Jan 1, , ,681.2 Feb 1, , ,685.4 Mar 1, ,670.6 Apr 1, ,669.7 May 1, ,674.2 Jun 1, ,675.5 Jul 1, ,672.8 Aug 1, ,672.2 Sep 1, ,672.2 Oct 1, ,673.2 Nov 1, ,678.5 Dec 1, ,680.0 UNEMPLOYMENT RATE, SA, % Month Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec LABOR FORCE, SA, 000s Month Jan 1, ,892.3 Feb 1, ,896.2 Mar 1, Apr 1, May 1, Jun 1, Jul 1, Aug 1, Sep 1, Oct 1, Nov 1, Dec 1, AVERAGE WEEKLY INITIAL CLAIMS, SA Month ,000 8,000 7,000 6,000 5,000 4,000 3,000 2, Jan 4,516 4,042 3,379 Feb 3,964 4,049 3,884 Mar 4,308 4,035 Apr 4,345 4,122 May 4,301 3,814 Jun 4,279 4,079 Jul 4,337 3,898 Aug 4,069 4,000 Sep 4,171 3,795 Oct 4,120 3,723 Nov 4,534 3,665 Dec 4,276 3, THE CONNECTICUT ECONOMIC DIGEST

11 ECONOMIC INDICATOR TRENDS STATE REAL AVG MFG HOURLY EARNINGS, NSA, $ Month Jan $9.35 $10.78 $11.72 Feb $9.46 $10.78 $ Mar $9.29 $10.88 Apr $9.39 $10.99 May $9.28 $ Jun $9.26 $10.80 Jul $9.33 $ Aug $9.61 $11.10 Sep $9.76 $11.27 Oct $10.00 $ Nov $10.27 $ Dec $10.44 $11.76 AVG MANUFACTURING WEEKLY HOURS, NSA Month Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec CT MFG PRODUCTION INDEX (NSA, 12 MMA, 2009=100) Month Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec SECRETARY OF STATE'S NET BUSINESS STARTS, 12MMA Month ,900 1,700 1,500 1,300 1, Jan 896 1,238 1,153 Feb 886 1,256 1,163 Mar 947 1,165 Apr 955 1,097 May 962 1,054 Jun 978 1,065 Jul 1,071 1,067 Aug 1,174 1,073 Sep 1,242 1,061 Oct 1,264 1,063 Nov 1,266 1,080 Dec 1,260 1,133 THE CONNECTICUT ECONOMIC DIGEST 11

12 STATE NONFARM EMPLOYMENT ESTIMATES CONNECTICUT Not Seasonally Adjusted NO. % 2016 TOTAL NONFARM EMPLOYMENT 1,656,800 1,641,900 14, ,655,500 TOTAL PRIVATE 1,415,800 1,400,200 15, ,416,500 GOODS PRODUCING INDUSTRIES 210, ,200 1, ,600 CONSTRUCTION, NAT. RES. & MINING. 52,200 51,200 1, ,300 MANUFACTURING 158, , ,300 Durable Goods 122, , ,600 Fabricated Metal 29,100 29, ,000 Machinery 13,800 14, ,900 Computer and Electronic Product 12,000 12, ,100 Transportation Equipment ,400 40,200 1, ,300 Aerospace Product and Parts 27,400 27, ,300 Non-Durable Goods 35,700 35, ,700 Chemical 9,800 9, ,800 SERVICE PROVIDING INDUSTRIES 1,446,500 1,432,700 13, ,443,900 TRADE, TRANSPORTATION, UTILITIES.. 290, , ,100 Wholesale Trade 62,500 62, ,500 Retail Trade 178, ,400-1, ,400 Motor Vehicle and Parts Dealers 21,000 20, ,000 Building Material 13,900 13, ,900 Food and Beverage Stores 44,000 44, ,800 General Merchandise Stores 28,100 27, ,700 Transportation, Warehousing, & Utilities 50,200 48,700 1, ,200 Utilities 5,500 5, ,500 Transportation and Warehousing 44,700 43,100 1, ,700 INFORMATION 33,500 32,100 1, ,900 Telecommunications 9,300 9, ,300 FINANCIAL ACTIVITIES 130, ,700 1, ,400 Finance and Insurance 110, , ,500 Credit Intermediation 25,600 25, ,700 Securities and Commodity Contracts 25,500 25, ,400 Insurance Carriers & Related Activities 59,400 58,300 1, ,400 Real Estate and Rental and Leasing 20,000 19,000 1, ,900 PROFESSIONAL & BUSINESS SERVICES 211, , ,100 Professional, Scientific 96,000 96, ,300 Legal Services 12,600 12, ,600 Computer Systems Design 26,900 26, ,900 Management of Companies 32,900 32, ,100 Administrative and Support 82,600 82, ,700 Employment Services 27,000 28,000-1, ,600 EDUCATION AND HEALTH SERVICES 331, ,200 5, ,500 Educational Services 68,100 65,900 2, ,100 Health Care and Social Assistance 263, ,300 3, ,400 Hospitals 58,000 58, ,300 Nursing & Residential Care Facilities 63,200 62,100 1, ,900 Social Assistance 55,100 53,300 1, ,200 LEISURE AND HOSPITALITY 143, ,000 3, ,200 Arts, Entertainment, and Recreation 23,700 21,700 2, ,500 Accommodation and Food Services 119, ,300 1, ,700 Food Serv., Restaurants, Drinking Places 108, ,600 1, ,900 OTHER SERVICES 64,600 62,500 2, ,700 GOVERNMENT 241, , ,000 Federal Government 17,700 17, ,600 State Government. 70,700 70, ,200 Local Government** 152, ,700-1, ,200 Current month s data are preliminary. Prior months data have been revised. All data are benchmarked to March *Total excludes workers idled due to labor-management disputes. **Includes Indian tribal government employment 12 THE CONNECTICUT ECONOMIC DIGEST

13 NONFARM EMPLOYMENT ESTIMATES LMA BRIDGEPORT - STAMFORD LMA Not Seasonally Adjusted NO. % 2016 TOTAL NONFARM EMPLOYMENT 400, ,100 1, ,800 TOTAL PRIVATE 355, , ,100 GOODS PRODUCING INDUSTRIES 41,800 42, ,300 CONSTRUCTION, NAT. RES. & MINING. 10,900 10, ,300 MANUFACTURING 30,900 31, ,000 Durable Goods 23,100 23, ,200 SERVICE PROVIDING INDUSTRIES 358, ,900 1, ,500 TRADE, TRANSPORTATION, UTILITIES.. 69,300 69, ,000 Wholesale Trade 13,600 13, ,600 Retail Trade 45,700 46,700-1, ,300 Transportation, Warehousing, & Utilities 10,000 9, ,100 INFORMATION 12,500 11, ,300 FINANCIAL ACTIVITIES 41,100 40, ,100 Finance and Insurance 34,600 34, ,500 Credit Intermediation 9,500 9, ,500 Securities and Commodity Contracts 17,200 17, ,200 PROFESSIONAL & BUSINESS SERVICES 61,800 64,000-2, ,400 Professional, Scientific 27,400 29,000-1, ,400 Administrative and Support 21,800 22, ,500 EDUCATION AND HEALTH SERVICES 71,600 71, ,900 Health Care and Social Assistance 59,900 59, ,100 LEISURE AND HOSPITALITY 39,700 38,000 1, ,800 Accommodation and Food Services 31,100 29,600 1, ,200 OTHER SERVICES 17,300 16, ,300 GOVERNMENT 45,100 44, ,700 Federal 2,500 2, ,400 State & Local 42,600 41, ,300 DANBURY LMA Not Seasonally Adjusted NO. % 2016 TOTAL NONFARM EMPLOYMENT 77,200 76, ,800 TOTAL PRIVATE 67,100 66, ,900 GOODS PRODUCING INDUSTRIES 12,000 11, ,100 SERVICE PROVIDING INDUSTRIES 65,200 65, ,700 TRADE, TRANSPORTATION, UTILITIES.. 17,200 17, ,800 Retail Trade 12,500 12, ,100 PROFESSIONAL & BUSINESS SERVICES 9,100 8, ,100 LEISURE AND HOSPITALITY 6,800 7, ,000 GOVERNMENT 10,100 10, ,900 Federal State & Local 9,400 9, ,300 Current month s data are preliminary. Prior months data have been revised. All data are benchmarked to March *Total excludes workers idled due to labor-management disputes. THE CONNECTICUT ECONOMIC DIGEST 13

14 LMA NONFARM EMPLOYMENT ESTIMATES HARTFORD LMA Not Seasonally Adjusted NO. % 2016 TOTAL NONFARM EMPLOYMENT 565, ,500 4, ,700 TOTAL PRIVATE 475, ,000 5, ,300 GOODS PRODUCING INDUSTRIES 72,700 72, ,000 CONSTRUCTION, NAT. RES. & MINING. 17,800 17, ,900 MANUFACTURING 54,900 55, ,100 Durable Goods 45,600 45, ,800 Non-Durable Goods 9,300 9, ,300 SERVICE PROVIDING INDUSTRIES 492, ,900 4, ,700 TRADE, TRANSPORTATION, UTILITIES.. 87,100 88,200-1, ,600 Wholesale Trade 17,000 17, ,100 Retail Trade 53,700 55,100-1, ,800 Transportation, Warehousing, & Utilities 16,400 15,400 1, ,700 Transportation and Warehousing 15,500 14,400 1, ,800 INFORMATION 12,000 11, ,900 FINANCIAL ACTIVITIES 57,200 56, ,300 Depository Credit Institutions 6,100 6, ,100 Insurance Carriers & Related Activities 37,700 37, ,900 PROFESSIONAL & BUSINESS SERVICES 72,000 71, ,200 Professional, Scientific 34,900 34, ,300 Management of Companies 10,200 10, ,200 Administrative and Support 26,900 26, ,700 EDUCATION AND HEALTH SERVICES 106, ,200 2, ,100 Educational Services 14,000 14, ,700 Health Care and Social Assistance 92,700 90,100 2, ,400 Ambulatory Health Care 30,700 30, ,600 LEISURE AND HOSPITALITY 45,700 44,000 1, ,500 Accommodation and Food Services 39,200 37,900 1, ,800 OTHER SERVICES 21,800 21, ,700 GOVERNMENT 90,100 90, ,400 Federal 5,300 5, ,300 State & Local 84,800 85, ,100 SEASONALLY ADJUSTED TOTAL NONFARM EMPLOYMENT Seasonally Adjusted Labor Market Areas NO. % 2016 BRIDGEPORT-STAMFORD LMA 411, ,200 2, ,500 DANBURY LMA** 78,800 78, ,700 HARTFORD LMA. 570, ,000 3, ,200 NEW HAVEN LMA 281, ,200 2, ,600 NORWICH-NEW LONDON LMA 129, ,500 3, ,000 WATERBURY LMA** 67,600 66,600 1, ,800 ENFIELD LMA** 45,600 45, ,700 TORRINGTON-NORTHWEST LMA** 34,000 33, ,800 DANIELSON-NORTHEAST LMA** 26,900 27, ,900 Current month s data are preliminary. Prior months data have been revised. All data are benchmarked to March *Total excludes workers idled due to labor-management disputes ** Unofficial seasonally adjusted estimates produced by the Connecticut Department of Labor 14 THE CONNECTICUT ECONOMIC DIGEST

15 NONFARM EMPLOYMENT ESTIMATES LMA NEW HAVEN LMA Not Seasonally Adjusted NO. % 2016 TOTAL NONFARM EMPLOYMENT 278, ,100 2, ,600 TOTAL PRIVATE 241, ,900 1, ,500 GOODS PRODUCING INDUSTRIES 33,700 33, ,900 CONSTRUCTION, NAT. RES. & MINING. 9,700 9, ,900 MANUFACTURING 24,000 24, ,000 Durable Goods 17,900 18, ,000 SERVICE PROVIDING INDUSTRIES 244, ,700 1, ,700 TRADE, TRANSPORTATION, UTILITIES.. 48,900 48, ,400 Wholesale Trade 11,300 11, ,100 Retail Trade 28,500 29, ,000 Transportation, Warehousing, & Utilities 9,100 8, ,300 INFORMATION 3,600 3, ,500 FINANCIAL ACTIVITIES 12,700 12, ,800 Finance and Insurance 9,000 8, ,000 PROFESSIONAL & BUSINESS SERVICES 30,000 30, ,700 Administrative and Support 13,900 13, ,800 EDUCATION AND HEALTH SERVICES 79,700 79, ,200 Educational Services 31,300 30, ,900 Health Care and Social Assistance 48,400 48, ,300 LEISURE AND HOSPITALITY 22,500 22, ,400 Accommodation and Food Services 19,000 19, ,300 OTHER SERVICES 10,600 10, ,600 GOVERNMENT 36,400 36, ,100 Federal 4,800 4, ,800 State & Local 31,600 31, ,300 Current month s data are preliminary. Prior months data have been revised. All data are benchmarked to March *Total excludes workers idled due to labor-management disputes. **Value less than 50 HELP WANTED ONLINE CT Online Labor Demand Fell 4,600 in February The Conference Board s Help Wanted OnLine (HWOL) data reported that there were 66,500 advertisements for Connecticutbased jobs in February 2016, a 6.5 percent decrease over the month and a 11.3 percent decrease over the year. There were 3.51 advertised vacancies for every 100 persons in Connecticut s labor force, while nationally it was 3.37 percent. Among the New England states, Massachusetts had the highest labor demand rate (4.70), while Vermont had the lowest rate (3.10). Feb Feb Jan (Seasonally adjusted) CT Vacancies (000s) Hartford Vac. (000s) Labor Demand Rate * Connecticut United States Maine Massachusetts New Hampshire Rhode Island Vermont * A percent of advertised vacancies per 100 persons in labor force Source: The Conference Board The Conference Board Help Wanted OnLine Data Series (HWOL) measures the number of new, first-time online jobs and jobs reposted from the previous month for over 16,000 Internet job boards, corporate boards and smaller job sites that serve niche markets and smaller geographic areas. Background information and technical notes and discussion of revisions to the series are available at: THE CONNECTICUT ECONOMIC DIGEST 15

16 LMA NONFARM EMPLOYMENT ESTIMATES NORWICH-NEW LONDON- WESTERLY, CT-RI LMA Not Seasonally Adjusted NO. % 2016 TOTAL NONFARM EMPLOYMENT 126, ,100 3, ,200 TOTAL PRIVATE 95,500 91,400 4, ,400 GOODS PRODUCING INDUSTRIES 19,800 18,700 1, ,900 CONSTRUCTION, NAT. RES. & MINING. 3,800 3, ,800 MANUFACTURING 16,000 15, ,100 Durable Goods 12,700 11,700 1, ,700 Non-Durable Goods 3,300 3, ,400 SERVICE PROVIDING INDUSTRIES 106, ,400 2, ,300 TRADE, TRANSPORTATION, UTILITIES.. 22,900 21,700 1, ,000 Wholesale Trade 2,500 2, ,500 Retail Trade 16,000 14,900 1, ,100 Transportation, Warehousing, & Utilities 4,400 4, ,400 INFORMATION 1,100 1, ,100 FINANCIAL ACTIVITIES 3,100 3, ,100 PROFESSIONAL & BUSINESS SERVICES 8,800 8, ,800 EDUCATION AND HEALTH SERVICES 20,500 20, ,700 Health Care and Social Assistance 17,900 18, ,000 LEISURE AND HOSPITALITY 15,700 14,000 1, ,300 Accommodation and Food Services 13,200 12,100 1, ,500 Food Serv., Restaurants, Drinking Places 11,100 10, ,400 OTHER SERVICES 3,600 3, ,500 GOVERNMENT 31,000 31, ,800 Federal 2,800 2, ,800 State & Local** 28,200 29, ,000 WATERBURY LMA Not Seasonally Adjusted NO. % 2016 TOTAL NONFARM EMPLOYMENT 66,400 65,400 1, ,700 TOTAL PRIVATE 56,300 55,200 1, ,800 GOODS PRODUCING INDUSTRIES 10,100 9, ,000 CONSTRUCTION, NAT. RES. & MINING. 2,400 2, ,400 MANUFACTURING 7,700 7, ,600 SERVICE PROVIDING INDUSTRIES 56,300 55, ,700 TRADE, TRANSPORTATION, UTILITIES.. 13,200 12, ,100 Wholesale Trade 2,100 2, ,100 Retail Trade 9,300 8, ,200 Transportation, Warehousing, & Utilities 1,800 1, ,800 INFORMATION FINANCIAL ACTIVITIES 2,000 2, ,000 PROFESSIONAL & BUSINESS SERVICES 5,200 5, ,000 EDUCATION AND HEALTH SERVICES 17,400 17, ,400 Health Care and Social Assistance 15,400 15, ,400 LEISURE AND HOSPITALITY 5,200 5, ,100 OTHER SERVICES 2,600 2, ,600 GOVERNMENT 10,100 10, ,900 Federal State & Local 9,600 9, ,400 Current month s data are preliminary. Prior months data have been revised. All data are benchmarked to March *Total excludes workers idled due to labor-management disputes. **Includes Indian tribal government employment. 16 THE CONNECTICUT ECONOMIC DIGEST

17 NONFARM EMPLOYMENT ESTIMATES LMA SMALLER LMAS* Not Seasonally Adjusted NO. % 2016 TOTAL NONFARM EMPLOYMENT ENFIELD LMA 44,900 44, ,200 TORRINGTON-NORTHWEST LMA 32,700 32, ,900 DANIELSON-NORTHEAST LMA 26,300 26, ,400 NOTE: More industry detail data is available for the State and its nine labor market areas at: The data published there differ from the data in the preceding tables in that they are developed from a near-universe count of Connecticut employment covered by the unemployment insurance (UI) program, while the data here is sample-based. The data drawn from the UI program does not contain estimates of employment not covered by unemployment insurance, and is lagged several months behind the current employment estimates presented here. * State-designated Non-CES areas For further information on these nonfarm employment estimates contact Lincoln Dyer at (860) SPRINGFIELD, MA-CT NECTA** Not Seasonally Adjusted NO. % 2016 TOTAL NONFARM EMPLOYMENT 322, , ,500 TOTAL PRIVATE 258, , ,900 GOODS PRODUCING INDUSTRIES 37,900 38, ,400 CONSTRUCTION, NAT. RES. & MINING. 9,100 9, ,400 MANUFACTURING 28,800 29, ,000 Durable Goods 19,500 19, ,600 Non-Durable Goods 9,300 9, ,400 SERVICE PROVIDING INDUSTRIES 284, , ,100 TRADE, TRANSPORTATION, UTILITIES.. 58,100 57, ,800 Wholesale Trade 11,100 11, ,200 Retail Trade 33,700 33, ,000 Transportation, Warehousing, & Utilities 13,300 12, ,600 INFORMATION 3,400 3, ,400 FINANCIAL ACTIVITIES 17,100 17, ,100 Finance and Insurance 13,800 13, ,800 Insurance Carriers & Related Activities 9,300 9, ,300 PROFESSIONAL & BUSINESS SERVICES 26,300 25, ,200 EDUCATION AND HEALTH SERVICES 77,500 75,500 2, ,600 Educational Services 15,200 15, ,800 Health Care and Social Assistance 62,300 60,400 1, ,800 LEISURE AND HOSPITALITY 26,000 27,800-1, ,900 OTHER SERVICES 12,500 12, ,500 GOVERNMENT 63,900 64, ,600 Federal 5,800 6, ,700 State & Local 58,100 58, ,900 Current month s data are preliminary. Prior months data have been revised. All data are benchmarked to March *Total excludes workers idled due to labor-management disputes. ** New England City and Town Area THE CONNECTICUT ECONOMIC DIGEST 17

18 LMA LABOR FORCE ESTIMATES EMPLOYMENT (Not seasonally adjusted) STATUS NO. % 2016 CONNECTICUT Civilian Labor Force 1,879,100 1,880,200-1, ,881,400 Employed 1,766,300 1,757,700 8, ,768,300 Unemployed 112, ,400-9, ,100 Unemployment Rate BRIDGEPORT-STAMFORD LMA Civilian Labor Force 462, , ,300 Employed 435, ,000 2, ,400 Unemployed 26,900 29,000-2, ,900 Unemployment Rate DANBURY LMA Civilian Labor Force 106, , ,800 Employed 100, , ,400 Unemployed 5,500 5, ,400 Unemployment Rate DANIELSON-NORTHEAST LMA Civilian Labor Force 42,700 42, ,700 Employed 39,900 39, ,900 Unemployed 2,900 3, ,900 Unemployment Rate ENFIELD LMA Civilian Labor Force 49,000 49, ,000 Employed 46,100 46, ,000 Unemployed 3,000 3, ,900 Unemployment Rate HARTFORD LMA Civilian Labor Force 614, ,500-1, ,500 Employed 577, ,700 2, ,500 Unemployed 36,700 39,800-3, ,000 Unemployment Rate NEW HAVEN LMA Civilian Labor Force 321, ,100-1, ,200 Employed 302, , ,000 Unemployed 18,900 20,600-1, ,200 Unemployment Rate NORWICH-NEW LONDON LMA Civilian Labor Force 141, , ,400 Employed 132, ,000 2, ,400 Unemployed 8,900 10,200-1, ,000 Unemployment Rate TORRINGTON-NORTHWEST LMA Civilian Labor Force 47,700 47, ,800 Employed 44,700 44, ,000 Unemployed 3,000 3, ,900 Unemployment Rate WATERBURY LMA Civilian Labor Force 110, , ,600 Employed 102, , ,500 Unemployed 8,300 9,300-1, ,200 Unemployment Rate UNITED STATES Civilian Labor Force 158,279, ,213,000 2,066, ,347,000 Employed 150,060, ,118,000 2,942, ,037,000 Unemployed 8,219,000 9,095, , ,309,000 Unemployment Rate Current month s data are preliminary. Prior months data have been revised. All data are benchmarked to March THE CONNECTICUT ECONOMIC DIGEST

19 HOURS AND EARNINGS LMA AVG WEEKLY EARNINGS AVG WEEKLY HOURS AVG HOURLY EARNINGS Feb CHG Jan Feb CHG Jan Feb CHG Jan (Not seasonally adjusted) Y/Y Y/Y Y/Y 2016 PRODUCTION WORKER MANUFACTURING $1, $ $ $1, $27.03 $24.73 $2.30 $27.08 DURABLE GOODS 1, , , NON-DUR. GOODS CONSTRUCTION 1, , , ALL EMPLOYEES STATEWIDE TOTAL PRIVATE 1, , GOODS PRODUCING 1, , , Construction 1, , , Manufacturing 1, , , SERVICE PROVIDING Trade, Transp., Utilities Financial Activities 1, , , Prof. & Business Serv. 1, , , Education & Health Ser Leisure & Hospitality Other Services LABOR MARKET AREAS: TOTAL PRIVATE Bridgeport-Stamford 1, , , Danbury Hartford 1, , New Haven Norwich-New London Waterbury Current month s data are preliminary. Prior months data have been revised. All data are benchmarked to March BUSINESS AND EMPLOYMENT CHANGES ANNOUNCED IN THE NEWS MEDIA In February 2016, Rhone Apparel created 15 jobs when it opened in Stamford. Home Depot announced it plans to expand by 900 jobs statewide this spring. Pietro Rosa TBM, an aerospace company, will add 100 jobs in Farmington over the next 5 years. Walmart will add 300 positions in Monroe when it opens a new store in YMCA created 50 jobs in Putnam when it opened a new location this month. Indeed, an online job board in Stamford, plans to hire 250 employees this year. In February 2016, Marinello Schools of Beauty closed all locations statewide. Last month, Biodel, a pharmaceutical developer in Danbury, cut 15 jobs. Next month, MassMutual in Enfield plans to reduce its workforce by 100 employees. Business & Employment Changes Announced in the News Media lists start-ups, expansions, staff reductions, and layoffs reported by the media, both current and future. The report provides company name, the number of workers involved, date of the action, the principal product or service of the company, a brief synopsis of the action, and the source and date of the media article. This publication is available in both HTML and PDF formats at the Connecticut Department of Labor Web site, THE CONNECTICUT ECONOMIC DIGEST 19