ECONOMIC DIGEST THE CONNECTICUT. Reconstructing Bridgeport THE THE CONNECTICUT ECONOMIC DIGEST DIGEST JULY 1998 IN THIS ISSUE

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1 THE CONNECTICUT ECONOMIC DIGEST Vol.3 No.7 A joint publication of the Connecticut Department of Labor & the Connecticut Department of Economic and Community Development JULY 1998 The Bridgeport Area is poised for a comeback. (article, pp.1-4) Industry clusters: China trade impacts State. (p.3) May's nonfarm employment: down by 700 from April, up by 31,900 from a year ago. (p.6) The unemployment rate was 3.8 percent in May, down from 3.9 percent in April. (p.6) Housing permits in May were up 25.7 percent from last year. (p.7) May's Hartford help wanted index jumped up by 11.1 percent to 40, the highest level since December (p.6 & 11) IN THIS ISSUE Industry Clusters... 3 Housing Update... 3 Leading & Coincident Indicators 5 Economic Indicators Comparative Regional Data... 9 Economic Indicator Trends Nonfarm Empl. Estimates Labor Force Estimates Hours and Earnings Housing Permit Activity Technical Notes At a Glance Reconstructing Bridgeport A The Rise 14% 12% 10% 8% 6% 4% 2% 0% Unemployment Rates: Bridgeport Bridgeport LMA Statewide THE THE CONNECTICUT ECONOMIC DIGEST DIGEST

2 4% 2% 0% -2% -4% -6% -8% -10% 2 THE CONNECTICUT ECONOMIC DIGEST And Fall Employment Trends : Bridgeport Bridgeport LMA Statewide 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, Public and Government Relations Division. 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 views expressed by authors are theirs alone and do not necessarily reflect those of the Departments of Labor or Economic and Community Development. To receive this publication free of charge write to: The Connecticut Economic Digest, Connecticut Department of Labor, Office of Research, 200 Folly Brook Boulevard, Wethersfield, CT ; or call: (860) Current subscribers who do not wish to continue receiving the publication or who have a change of address are asked to fill out the information on the back cover and return it to the above address. Contributing DOL Staff: Salvatore DiPillo, Lincoln S. Dyer, Arthur Famiglietti, Noreen Passardi and Joseph Slepski. Managing Editor: J. Charles Joo. Contributing DECD Staff: Todd Bentsen, Kolie Chang and Mark Prisloe. We would also like to thank our associates at the Connecticut Center for Economic Analysis, University of Connecticut, for their contributions to the Digest. Connecticut Department of Labor James P. Butler, Commissioner William R. Bellotti, Deputy Commissioner Jean E. Zurbrigen, Deputy Commissioner Roger F. Therrien, Director Office of Research 200 Folly Brook Boulevard Wethersfield, CT Phone: (860) Fax: (860) salvatore.dipillo@po.state.ct.us Connecticut Department of Economic and Community Development James F. Abromaitis, Commissioner Rita Zangari, Deputy Commissioner Public and Government Relations Division Research Unit DECD 505 Hudson Street Hartford, CT RESEARCH Phone: (860) Fax: (860) decd@po.state.ct.us

3 HOUSING UPDATE May Housing Permits Increase 25.7% C Reconstruction (Continued On Page 4) Industry Clusters China Trade Impacts State O For more information on housing permits, see tables on pages THE CONNECTICUT ECONOMIC DIGEST 3

4 Employment Changes by Major Industry Division: 1992 to 1997 Total Industries Construction Manufacturing Transportation, Public Utilities Wholesale Retail Bridgeport LMA Statewide Finance, Insurance, Real Estate Services Government -15% -10% -5% 0% 5% 10% 15% 20% 25% 30% Road To Recovery 4 THE CONNECTICUT ECONOMIC DIGEST

5 LEADING AND COINCIDENT INDICATORS 105 LEADING INDEX 120 COINCIDENT INDEX Peak 02/ Peak 03/80 Trough 06/ Peak 12/69 Peak 05/74 Trough 01/ Trough 10/71 Trough 09/ The distance from peak to trough, indicated by the shaded areas, measures the duration of an employment cycle recession. The vertical scale in both charts is an index with 1987=100. Is There Trouble Brewing In The Economic Clouds? J Source: Connecticut Center for Economic Analysis, University of Connecticut. Developed by Pami Dua [(203) , Stamford Campus (on leave)] and Stephen M. Miller [(860) , Storrs Campus]. Kathryn E. Parr [(860) , Storrs Campus] provided research support. THE CONNECTICUT ECONOMIC DIGEST 5

6 ECONOMIC INDICATORS OF EMPLOYMENT EMPLOYMENT BY MAJOR INDUSTRY DIVISION (Seasonally adjusted; 000s) NO. % 1998 TOTAL NONFARM 1, , ,641.9 Private Sector 1, , ,415.7 Construction and Mining Manufacturing Transportation, Public Utilities Wholesale, Retail Trade Finance, Insurance & Real Estate Services Government Source: Connecticut Department of Labor UNEMPLOYMENT (Seasonally adjusted) NO. % 1998 Unemployment Rate, resident (%) Labor Force, resident (000s) 1, , ,714.9 Employed (000s) 1, , ,647.7 Unemployed (000s) Average Weekly Initial Claims 3,677 3, ,493 Help Wanted Index -- Htfd. (1987=100) Avg. Insured Unemp. Rate (%) Sources: Connecticut Department of Labor; The Conference Board MANUFACTURING ACTIVITY (Not seasonally adjusted) NO. % 1998 Average Weekly Hours Average Hourly Earnings $14.80 $14.36 $ $14.73 Average Weekly Earnings $ $ $ $ Mfg. Output Index (1982=100)* Production Worker Hours (000s) 6,945 6, ,847 Productivity Index (1982=100)* Source: Connecticut Department of Labor *Seasonally adjusted INCOME (Quarterly) (Seasonally adjusted) 3Q* 3Q CHANGE 2Q* (Annualized; $ Millions) NO. % 1998 Personal Income $125,108 $118,809 $6, $123,677 UI Covered Wages $64,681 $61,509 $3, $63,961 Source: Bureau of Economic Analysis: April 1998 release *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 MAY , ,110 3, Electricity Sales (mil kwh) MAR , ,247 7, Retail Sales (Bil. $) MAR Construction Contracts Index (1980=100) APR New Auto Registrations MAY , ,470 85, Air Cargo Tons APR , ,543 47, Sources: 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; Connecticut Department of Transportation, Bureau of Aviation and Ports BUSINESS STARTS AND TERMINATIONS MAY % CHANGE YEAR TO DATE 1998 M/M Y/Y NO. % CHG STARTS Secretary of the State 1, , Department of Labor , TERMINATIONS Secretary of the State , Department of Labor , Sources: Connecticut Secretary of the State -- corporations and other legal entities Connecticut Department of Labor -- unemployment insurance program registrations STATE TAX COLLECTIONS FISCAL YEAR TOTALS MAY MAY % % (Millions of dollars) CHG CHG TOTAL ALL TAXES* , , Corporate Tax Personal Income Tax , , Real Estate Conv. Tax Sales & Use Tax , , Source: Connecticut Department of Revenue Services *Includes all sources of tax revenue; Only selected taxes are displayed. TOURISM AND TRAVEL Y/Y % YEAR TO DATE % MONTH LEVEL CHG CURRENT PRIOR CHG Tourism Inquiries MAY , ,377 93, Info Center Visitors MAY , , , Major Attraction Visitors MAY , , , Hotel-Motel Occupancy MAY Air Passenger Count APR , ,748,373 1,759, Sources: Connecticut Department of Transportation, Bureau of Aviation and Ports; Connecticut Department of Economic and Community Development; Connecticut Lodging & Attractions Association THE CONNECTICUT ECONOMIC DIGEST 7

8 ECONOMIC INDICATORS EMPLOYMENT COST INDEX (Quarterly) Seasonally Adjusted Not Seasonally Adjusted Private Industry Workers MAR DEC 3-Mo MAR MAR 12-Mo (June 1989=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 CONSUMER NEWS MAY APR MAY % CHG (Not seasonally adjusted) M/M Y/Y CONSUMER PRICE INDEX ( =100) All Urban Consumers U.S. City Average Purchasing Power of Consumer Dollar: ( =$1.00) $0.614 $0.615 $ Northeast Region NY-Northern NJ-Long Island Boston-Brockton-Nashua* Urban Wage Earners and Clerical Workers U.S. City Average CONSUMER CONFIDENCE (1985=100) U.S New England *The Boston CPI can be used as a proxy for New England and is measured every other month. Sources: U.S. Department of Labor, Bureau of Labor Statistics; The Conference Board INTEREST RATES MAY APR MAY (Percent) Prime Federal Funds Month Treasury Bill Month Treasury Bill Year Treasury Bill Year Treasury Bill Year Treasury Bond Year Treasury Bond Year Treasury Bond Year Teasury Bond Conventional Mortgage Sources: Federal Reserve; Federal Home Loan Mortgage Corp. 8 THE CONNECTICUT ECONOMIC DIGEST

9 COMPARATIVE REGIONAL DATA NONFARM EMPLOYMENT (Seasonally adjusted; 000s) NO. % 1998 Connecticut 1, , ,641.9 Maine Massachusetts 3, , ,196.7 New Hampshire New Jersey 3, , ,785.2 New York 8, , ,124.9 Pennsylvania 5, , ,455.7 Rhode Island Vermont United States 125, , , ,216.0 Source: U.S. Department of Labor, Bureau of Labor Statistics LABOR FORCE (Seasonally adjusted; 000s) NO. % 1998 Connecticut 1, , ,714.9 Maine Massachusetts 3, , ,244.7 New Hampshire New Jersey 4, , ,188.9 New York 8, , ,773.0 Pennsylvania 5, , ,980.2 Rhode Island Vermont United States 137, , , ,242.0 Source: U.S. Department of Labor, Bureau of Labor Statistics UNEMPLOYMENT RATES MAY MAY APR (Seasonally adjusted) CHANGE 1998 Connecticut Maine Massachusetts New Hampshire New Jersey New York Pennsylvania Rhode Island Vermont United States Source: U.S. Department of Labor, Bureau of Labor Statistics THE CONNECTICUT ECONOMIC DIGEST 9

10 ECONOMIC INDICATOR TRENDS NONFARM EMPLOYMENT (Seasonally adjusted) Month Thousands 1,700 1,650 1,600 1,550 1,500 1,450 1,400 Jan 1, , ,639.6 Feb 1, , ,641.2 Mar 1, , ,639.6 Apr 1, , ,641.9 May 1, , ,641.2 Jun 1, ,611.1 Jul 1, ,611.9 Aug 1, ,616.1 Sep 1, ,621.7 Oct 1, ,627.2 Nov 1, ,634.6 Dec 1, ,642.6 UNEMPLOYMENT RATE (Seasonally adjusted) Month Percent Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec LABOR FORCE (Seasonally adjusted) Month Thousands 1,900 1,850 1,800 1,750 1,700 1,650 1,600 1,550 Jan 1, , ,720.0 Feb 1, , ,716.8 Mar 1, , ,722.4 Apr 1, , ,714.9 May 1, , ,720.9 Jun 1, ,721.7 Jul 1, ,722.0 Aug 1, ,722.9 Sep 1, ,723.9 Oct 1, ,725.7 Nov 1, ,726.6 Dec 1, ,728.2 AVERAGE WEEKLY INITIAL CLAIMS (Seasonally adjusted) Month ,000 8,000 7,000 6,000 5,000 4,000 3,000 2,000 Jan 4,702 3,946 3,386 Feb 4,666 3,903 3,578 Mar 4,192 4,012 3,444 Apr 4,250 4,326 3,493 May 4,374 3,768 3,677 Jun 4,211 4,100 Jul 4,355 3,621 Aug 4,223 3,799 Sep 4,194 3,629 Oct 4,193 3,503 Nov 3,881 3,670 Dec 4,383 4, THE CONNECTICUT ECONOMIC DIGEST

11 ECONOMIC INDICATOR TRENDS REAL AVG MANUFACTURING HOURLY EARNINGS (Not seasonally adjusted) Month Dollars Jan $9.22 $9.09 $9.26 Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec AVG MANUFACTURING WEEKLY HOURS (Not seasonally adjusted) Month Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec HARTFORD HELP WANTED INDEX (Seasonally adjusted) Month = Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec DOL NEWLY REGISTERED EMPLOYERS (12-month moving average) Month ,100 1, Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec THE CONNECTICUT ECONOMIC DIGEST 11

12 ECONOMIC INDICATOR TRENDS DURABLE MANUFACTURING EMPLOYMENT (Seasonally adjusted) Month Thousands Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec NONDURABLE MANUFACTURING EMPLOYMENT (Seasonally adjusted) Month Thousands Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec CONSTRUCTION & MINING EMPLOYMENT (Seasonally adjusted) Month Thousands Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec TRANSPORT. & PUBLIC UTIL. EMPLOYMENT (Seasonally adjusted) Month Thousands Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec THE CONNECTICUT ECONOMIC DIGEST

13 ECONOMIC INDICATOR TRENDS SALES TAX Quarter FY 96 FY 97 FY 98 Year-over-year % changes First Second Third Fourth REAL ESTATE TAX Quarter FY 96 FY 97 FY 98 Year-over-year % changes First Second Third Fourth PERSONAL INCOME TAX : SALARIES & WAGES Quarter FY 96 FY 97 FY 98 Year-over-year % changes First Second Third Fourth PERSONAL INCOME TAX : ALL OTHER SOURCES Quarter FY 96 FY 97 FY 98 Year-over-year % changes First Second Third Fourth Note: These economic growth rates were derived by the Office of Fiscal Analysis and were made by comparing tax collections in each quarter with the same quarter in the previous year and were adjusted for legislative changes THE CONNECTICUT ECONOMIC DIGEST 13

14 NONFARM EMPLOYMENT ESTIMATES CONNECTICUT Not Seasonally Adjusted NO. % 1998 TOTAL NONFARM EMPLOYMENT ,646,300 1,615,400 30, ,636,300 GOODS PRODUCING INDUSTRIES , ,200 2, ,600 CONSTRUCTION & MINING ,300 58,100 2, ,800 MANUFACTURING , , ,800 Durable , , ,900 Lumber & Furniture ,200 5, ,200 Stone, Clay & Glass ,000 3, ,000 Primary Metals ,100 9, ,000 Fabricated Metals ,000 34, ,600 Machinery & Computer Equipment ,700 34, ,800 Electronic & Electrical Equipment ,000 28, ,000 Transportation Equipment ,200 49, ,700 Instruments ,000 22, ,100 Miscellaneous Manufacturing ,300 6, ,500 Nondurable ,000 82, ,900 Food ,500 8, ,400 Textiles ,100 2, ,200 Apparel ,500 4, ,700 Paper ,900 7, ,000 Printing & Publishing ,400 25, ,600 Chemicals ,200 21, ,000 Rubber & Plastics ,100 10, ,000 Other Nondurable Manufacturing ,300 2, ,000 SERVICE PRODUCING INDUSTRIES ,309,500 1,281,200 28, ,301,700 TRANS., COMM. & UTILITIES ,900 75,100 1, ,800 Transportation ,000 44, ,000 Motor Freight & Warehousing ,600 11, ,300 Other Transportation ,400 32, ,700 Communications ,700 18,600 1, ,600 Utilities ,200 12, ,200 TRADE , ,500 6, ,700 Wholesale ,400 83,500 1, ,900 Retail , ,000 4, ,800 General Merchandise ,900 25,900 1, ,500 Food Stores ,000 51, ,700 Auto Dealers & Gas Stations ,000 27, ,900 Restaurants ,600 79, ,500 Other Retail Trade ,900 83,800 3, ,200 FINANCE, INS. & REAL ESTATE , ,600 3, ,200 Finance ,200 45,200 3, ,900 Banking ,600 23, ,500 Insurance ,800 70, ,300 Insurance Carriers ,300 59, ,800 Real Estate ,200 15, ,000 SERVICES , ,100 16, ,300 Hotels & Lodging Places ,000 10, ,600 Personal Services ,100 18, ,100 Business Services , ,400 6, ,100 Health Services , ,700 1, ,100 Legal & Professional Services ,900 51,000 1, ,500 Educational Services ,600 39,300 2, ,300 Other Services , ,100 4, ,600 GOVERNMENT , , ,700 Federal ,500 22, ,500 **State, Local & Other Government , , ,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. 14 THE CONNECTICUT ECONOMIC DIGEST

15 NONFARM EMPLOYMENT ESTIMATES BRIDGEPORT LMA Not Seasonally Adjusted NO. % 1998 TOTAL NONFARM EMPLOYMENT , , ,800 GOODS PRODUCING INDUSTRIES ,300 46, ,100 CONSTRUCTION & MINING ,700 6, ,400 MANUFACTURING ,600 39, ,700 Durable Goods ,500 32, ,600 Fabricated Metals ,400 4, ,300 Industrial Machinery ,400 6, ,400 Electronic Equipment ,600 6, ,600 Transportation Equipment ,800 9, ,900 Nondurable Goods ,100 7, ,100 Printing & Publishing ,000 2, ,000 SERVICE PRODUCING INDUSTRIES , , ,700 TRANS., COMM. & UTILITIES ,200 7, ,100 TRADE ,400 41, ,100 Wholesale ,800 10, ,900 Retail ,600 31, ,200 FINANCE, INS. & REAL ESTATE ,200 10, ,200 SERVICES ,200 58, ,200 Business Services ,400 13, ,500 Health Services ,000 19, ,900 GOVERNMENT ,100 20, ,100 Federal ,200 2, ,300 State & Local ,900 18, ,800 For further information on the Bridgeport Labor Market Area contact Arthur Famiglietti at (860) DANBURY LMA Not Seasonally Adjusted NO. % 1998 TOTAL NONFARM EMPLOYMENT ,600 85,300 1, ,400 GOODS PRODUCING INDUSTRIES ,500 22, ,600 CONSTRUCTION & MINING ,800 3, ,800 MANUFACTURING ,700 18, ,800 Durable Goods ,800 9, ,800 Machinery & Electric Equipment ,800 4, ,800 Instruments ,700 2, ,700 Nondurable Goods ,900 9, ,000 Printing & Publishing ,600 2, ,600 Chemicals ,600 3, ,600 SERVICE PRODUCING INDUSTRIES ,100 63,000 1, ,800 TRANS., COMM. & UTILITIES ,500 2, ,400 TRADE ,500 21, ,400 Wholesale ,000 3, ,000 Retail ,500 17, ,400 FINANCE, INS. & REAL ESTATE ,800 4, ,700 SERVICES ,000 24, ,900 GOVERNMENT ,300 9, ,400 Federal State & Local ,500 9, ,600 For further information on the Danbury Labor Market Area contact Arthur Famiglietti at (860) 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 15

16 NONFARM EMPLOYMENT ESTIMATES DANIELSON LMA Not Seasonally Adjusted NO. % 1998 TOTAL NONFARM EMPLOYMENT ,600 20, ,400 GOODS PRODUCING INDUSTRIES ,000 6, ,000 CONSTRUCTION & MINING MANUFACTURING ,100 6, ,100 Durable Goods ,700 2, ,700 Nondurable Goods ,400 3, ,400 SERVICE PRODUCING INDUSTRIES ,600 13, ,400 TRANS., COMM. & UTILITIES TRADE ,700 4, ,500 Wholesale Retail ,000 3, ,900 FINANCE, INS. & REAL ESTATE SERVICES ,700 4, ,700 GOVERNMENT ,100 3, ,100 Federal State & Local ,000 3, ,000 For further information on the Danielson Labor Market Area contact Noreen Passardi at (860) HARTFORD LMA Not Seasonally Adjusted NO. % 1998 TOTAL NONFARM EMPLOYMENT , ,300 1, ,800 GOODS PRODUCING INDUSTRIES , ,900 1, ,800 CONSTRUCTION & MINING ,800 20, ,600 MANUFACTURING ,300 92,400 1, ,200 Durable Goods ,900 73,000 1, ,800 Primary & Fabricated Metals ,400 18, ,200 Industrial Machinery ,500 14, ,600 Electronic Equipment ,300 6, ,400 Transportation Equipment ,200 25,900 1, ,100 Nondurable Goods ,400 19, ,400 Printing & Publishing ,800 7, ,800 SERVICE PRODUCING INDUSTRIES , , ,000 TRANS., COMM. & UTILITIES ,000 27, ,000 Transportation ,400 16, ,800 Communications & Utilities ,600 10, ,200 TRADE , ,400-1, ,300 Wholesale ,800 30, ,400 Retail ,200 93, ,900 FINANCE, INS. & REAL ESTATE ,600 69, ,900 Deposit & Nondeposit Institutions ,600 9, ,500 Insurance Carriers ,900 47, ,800 SERVICES , ,000 1, ,800 Business Services ,400 32, ,000 Health Services ,700 59, ,200 GOVERNMENT ,200 94, ,000 Federal ,000 8, ,000 State & Local ,200 85, ,000 For further information on the Hartford Labor Market Area contact Arthur Famiglietti at (860) 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. 16 THE CONNECTICUT ECONOMIC DIGEST

17 NONFARM EMPLOYMENT ESTIMATES LOWER RIVER LMA Not Seasonally Adjusted NO. % 1998 TOTAL NONFARM EMPLOYMENT ,800 9, ,800 GOODS PRODUCING INDUSTRIES ,400 3, ,400 CONSTRUCTION & MINING MANUFACTURING ,100 3, ,100 Durable Goods ,400 2, ,400 Electronic Equipment Other Durable Goods ,600 1, ,600 Nondurable Goods Rubber & Plastics Other Nondurable Goods SERVICE PRODUCING INDUSTRIES ,400 6, ,400 TRANS., COMM. & UTILITIES TRADE ,100 2, ,100 Wholesale Retail ,700 1, ,700 FINANCE, INS. & REAL ESTATE SERVICES ,600 2, ,600 GOVERNMENT Federal State & Local For further information on the Lower River Labor Market Area contact Noreen Passardi at (860) NEW HAVEN LMA Not Seasonally Adjusted NO. % 1998 TOTAL NONFARM EMPLOYMENT , , ,600 GOODS PRODUCING INDUSTRIES ,600 48, ,100 CONSTRUCTION & MINING ,300 9, ,800 MANUFACTURING ,300 39, ,300 Durable Goods ,800 24, ,800 Primary & Fabricated Metals ,500 6, ,500 Electronic Equipment ,100 5, ,100 Nondurable Goods ,500 14, ,500 Paper, Printing & Publishing ,100 5, ,100 Chemicals & Allied ,200 6, ,200 SERVICE PRODUCING INDUSTRIES , , ,500 TRANS., COMM. & UTILITIES ,200 15, ,100 Communications & Utilities ,900 8, ,800 TRADE ,800 52, ,100 Wholesale ,200 12, ,200 Retail ,600 39, ,900 Eating & Drinking Places ,000 11, ,800 FINANCE, INS. & REAL ESTATE ,900 13, ,700 Finance ,800 4, ,700 Insurance ,100 7, ,000 SERVICES ,400 88, ,400 Business Services ,200 12, ,400 Health Services ,800 29, ,800 GOVERNMENT ,200 31, ,200 Federal ,400 5, ,400 State & Local ,800 25, ,800 For further information on the New Haven Labor Market Area contact J. Charles Joo at (860) 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 17

18 NONFARM EMPLOYMENT ESTIMATES NEW LONDON LMA Not Seasonally Adjusted NO. % 1998 TOTAL NONFARM EMPLOYMENT , ,300 3, ,300 GOODS PRODUCING INDUSTRIES ,000 28, ,900 CONSTRUCTION & MINING ,600 4, ,500 MANUFACTURING ,400 24, ,400 Durable Goods ,600 15, ,700 Primary & Fabricated Metals ,300 2, ,300 Other Durable Goods ,300 12, ,400 Nondurable Goods ,800 9, ,700 Paper & Allied ,000 1, ,000 Other Nondurable Goods ,400 7, ,300 SERVICE PRODUCING INDUSTRIES , ,400 3, ,400 TRANS., COMM. & UTILITIES ,700 6, ,600 TRADE ,900 27, ,000 Wholesale ,700 2, ,700 Retail ,200 25, ,300 Eating & Drinking Places ,200 8, ,400 Other Retail ,000 16, ,800 FINANCE, INS. & REAL ESTATE ,800 3, ,800 SERVICES ,500 34, ,800 Personal & Business Services ,800 6, ,800 Health Services ,600 11, ,600 GOVERNMENT ,500 34,500 2, ,200 Federal ,700 2, ,700 State & Local ,800 31,700 2, ,500 **Local ,000 27,800 2, ,800 For further information on the New London Labor Market Area contact Lincoln Dyer at (860) STAMFORD LMA Not Seasonally Adjusted NO. % 1998 TOTAL NONFARM EMPLOYMENT , ,200 6, ,500 GOODS PRODUCING INDUSTRIES ,900 34,100-1, ,900 CONSTRUCTION & MINING ,700 5, ,600 MANUFACTURING ,200 28,300-1, ,300 Durable Goods ,400 14, ,500 Industrial Machinery ,800 3, ,800 Electronic Equipment ,600 2, ,600 Nondurable Goods ,800 13, ,800 Paper, Printing & Publishing ,100 6, ,200 Chemicals & Allied ,200 3, ,300 Other Nondurable ,500 3, ,300 SERVICE PRODUCING INDUSTRIES , ,100 7, ,600 TRANS., COMM. & UTILITIES ,000 10, ,000 Communications & Utilities ,100 3, ,100 TRADE ,400 45,400 1, ,500 Wholesale ,100 12, ,000 Retail ,300 33, ,500 FINANCE, INS. & REAL ESTATE ,300 23,200 3, ,100 SERVICES ,600 71,700 2, ,900 Business Services ,300 21,000 1, ,000 Engineering & Mgmnt. Services ,700 9, ,700 Other Services ,600 40, ,200 GOVERNMENT ,100 17, ,100 Federal ,900 1, ,900 State & Local ,200 15, ,200 For further information on the Stamford Labor Market Area contact Joseph Slepski at (860) 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. 18 THE CONNECTICUT ECONOMIC DIGEST

19 NONFARM EMPLOYMENT ESTIMATES TORRINGTON LMA Not Seasonally Adjusted NO. % 1998 TOTAL NONFARM EMPLOYMENT ,900 28, ,700 GOODS PRODUCING INDUSTRIES ,300 8, ,300 CONSTRUCTION & MINING ,200 1, ,200 MANUFACTURING ,100 6, ,100 Durable Goods ,200 4, ,200 Primary & Fabricated Metals Industrial Machinery ,100 1, ,100 Electronic Equipment Other Durable Goods ,100 2, ,100 Nondurable Goods ,900 2, ,900 Rubber & Plastics , Other Nondurable Goods ,000 1, ,000 SERVICE PRODUCING INDUSTRIES ,600 20, ,400 TRANS., COMM. & UTILITIES TRADE ,500 6, ,400 Wholesale Retail ,800 5, ,700 FINANCE, INS. & REAL ESTATE SERVICES ,200 9, ,100 GOVERNMENT ,400 3, ,400 Federal State & Local ,200 3, ,200 For further information on the Torrington Labor Market Area contact Joseph Slepski at (860) WATERBURY LMA Not Seasonally Adjusted NO. % 1998 TOTAL NONFARM EMPLOYMENT ,700 86,400 2, ,300 GOODS PRODUCING INDUSTRIES ,600 22, ,600 CONSTRUCTION & MINING ,500 3, ,500 MANUFACTURING ,100 19, ,100 Durable Goods ,900 14, ,800 Primary Metals Fabricated Metals ,600 6, ,600 Machinery & Electric Equipment ,900 5, ,900 Nondurable Goods ,200 4, ,300 Paper, Printing & Publishing ,300 1, ,300 SERVICE PRODUCING INDUSTRIES ,100 64,200 1, ,700 TRANS., COMM. & UTILITIES ,700 3, ,600 TRADE ,000 17,500 1, ,500 Wholesale ,000 3, ,000 Retail ,000 14,300 1, ,500 FINANCE, INS. & REAL ESTATE ,200 4, ,200 SERVICES ,700 26, ,200 Personal & Business ,200 6, ,200 Health Services ,200 10, ,000 GOVERNMENT ,500 12, ,200 Federal State & Local ,700 11, ,400 For further information on the Waterbury Labor Market Area contact Joseph Slepski at (860) 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 19

20 LABOR FORCE ESTIMATES EMPLOYMENT (Not seasonally adjusted) STATUS NO. % 1998 CONNECTICUT Civilian Labor Force 1,716,100 1,716, ,700,200 Employed 1,652,400 1,627,000 25, ,637,800 Unemployed 63,700 89,600-25, ,400 Unemployment Rate BRIDGEPORT LMA Civilian Labor Force 217, ,200-2, ,000 Employed 207, ,900 1, ,000 Unemployed 9,700 13,300-3, ,100 Unemployment Rate DANBURY LMA Civilian Labor Force 108, ,400 1, ,100 Employed 105, ,700 2, ,200 Unemployed 2,600 3,700-1, ,900 Unemployment Rate DANIELSON LMA Civilian Labor Force 33,700 33, ,000 Employed 31,900 31, ,200 Unemployed 1,800 2, ,800 Unemployment Rate HARTFORD LMA Civilian Labor Force 582, ,700-5, ,000 Employed 560, ,600 4, ,900 Unemployed 22,100 32,000-9, ,100 Unemployment Rate LOWER RIVER LMA Civilian Labor Force 12,400 12, ,300 Employed 12,100 11, ,900 Unemployed Unemployment Rate NEW HAVEN LMA Civilian Labor Force 268, ,100-3, ,100 Employed 258, ,200 1, ,900 Unemployed 10,000 14,900-4, ,100 Unemployment Rate NEW LONDON LMA Civilian Labor Force 154, ,500 1, ,300 Employed 148, ,600 3, ,700 Unemployed 6,600 8,900-2, ,600 Unemployment Rate STAMFORD LMA Civilian Labor Force 196, ,500 4, ,800 Employed 191, ,200 6, ,400 Unemployed 4,800 6,200-1, ,500 Unemployment Rate TORRINGTON LMA Civilian Labor Force 38,900 38, ,600 Employed 37,900 37, ,300 Unemployed 1,000 1, ,300 Unemployment Rate WATERBURY LMA Civilian Labor Force 119, ,600 1, ,200 Employed 114, ,500 3, ,000 Unemployed 5,200 7,000-1, ,200 Unemployment Rate UNITED STATES Civilian Labor Force 137,240, ,963,000 1,277, ,379,000 Employed 131,476, ,565,000 1,911, ,735,000 Unemployed 5,764,000 6,398, , ,643,000 Unemployment Rate Current month s data are preliminary. Prior months data have been revised. All data are benchmarked to March THE CONNECTICUT ECONOMIC DIGEST

21 MANUFACTURING HOURS AND EARNINGS AVG WEEKLY EARNINGS AVG WEEKLY HOURS AVG HOURLY EARNINGS MAY CHG APR MAY CHG APR MAY CHG APR (Not seasonally adjusted) Y/Y Y/Y Y/Y 1998 MANUFACTURING $ $ $29.02 $ $14.80 $14.36 $0.44 $14.73 DURABLE GOODS Lumber & Furniture Stone, Clay and Glass Primary Metals Fabricated Metals Machinery Electrical Equipment Trans. Equipment Instruments Miscellaneous Mfg NONDUR. GOODS Food Textiles Apparel Paper Printing & Publishing Chemicals Rubber & Misc. Plast CONSTRUCTION LMAs AVG WEEKLY EARNINGS AVG WEEKLY HOURS AVG HOURLY EARNINGS MAY CHG APR MAY CHG APR MAY CHG APR MANUFACTURING Y/Y Y/Y Y/Y 1998 Bridgeport $ $ $11.77 $ $15.22 $15.05 $0.17 $15.15 Danbury Danielson Hartford Lower River New Haven New London Stamford Torrington Waterbury Current month s data are preliminary. Prior months data have been revised. All data are benchmarked to March NEW HOUSING PERMITS MAY MAY CHANGE Y/Y YTD CHANGE YTD APR UNITS % UNITS % 1998 Connecticut , Counties: Fairfield Hartford Litchfield Middlesex New Haven New London Tolland Windham THE CONNECTICUT ECONOMIC DIGEST 21

22 HOUSING PERMIT ACTIVITY BY TOWN TOWN MAY YR TO DATE TOWN MAY YR TO DATE TOWN MAY YR TO DATE Andover Griswold Preston Ansonia Groton Prospect Ashford Guilford Putnam Avon Haddam Redding Barkhamsted Hamden Ridgefield Beacon Falls Hampton Rocky Hill Berlin Hartford Roxbury Bethany Hartland Salem Bethel Harwinton Salisbury Bethlehem Hebron Scotland Bloomfield Kent Seymour Bolton Killingly Sharon Bozrah Killingworth Shelton Branford Lebanon Sherman Bridgeport Ledyard Simsbury Bridgewater Lisbon Somers Bristol Litchfield South Windsor Brookfield Lyme Southbury Brooklyn Madison Southington Burlington Manchester Sprague Canaan Mansfield Stafford Canterbury Marlborough Stamford Canton Meriden Sterling Chaplin Middlebury Stonington Cheshire Middlefield Stratford Chester Middletown Suffield Clinton Milford Thomaston Colchester Monroe Thompson Colebrook Montville Tolland Columbia Morris Torrington Cornwall Naugatuck Trumbull Coventry New Britain Union Cromwell New Canaan Vernon Danbury New Fairfield Voluntown Darien New Hartford Wallingford Deep River New Haven Warren Derby New London Washington Durham New Milford Waterbury East Granby Newington Waterford East Haddam Newtown Watertown East Hampton Norfolk West Hartford East Hartford North Branford West Haven East Haven North Canaan Westbrook East Lyme North Haven Weston East Windsor No. Stonington Westport Eastford Norwalk Wethersfield Easton Norwich Willington Ellington Old Lyme Wilton Enfield Old Saybrook Winchester Essex Orange Windham Fairfield Oxford Windsor Farmington Plainfield Windsor Locks Franklin Plainville Wolcott Glastonbury Plymouth Woodbridge Goshen Pomfret Woodbury Granby Portland Woodstock Greenwich THE CONNECTICUT ECONOMIC DIGEST

23 TECHNICAL NOTES BUSINESS STARTS AND TERMINATIONS CONSUMER PRICE INDEX EMPLOYMENT COST INDEX HOURS AND EARNINGS ESTIMATES INITIAL CLAIMS INSURED UNEMPLOYMENT RATE LABOR FORCE ESTIMATES LABOR MARKET AREAS LEADING AND COINCIDENT EMPLOYMENT INDICES NONFARM EMPLOYMENT ESTIMATES UI COVERED WAGES THE CONNECTICUT ECONOMIC DIGEST 23

24 ECONOMIC INDICATORS AT A GLANCE (Percent change from prior year; see pages 5-9 for reference months) Leading Employment Index Coincident Employment Index Total Nonfarm Employment Unemployment * Labor Force Employed Unemployed Average Weekly Initial Claims Help Wanted Index -- Hartford Average Ins. Unempl. Rate * Average Weekly Hours, Mfg Average Hourly Earnings, Mfg Average Weekly Earnings, Mfg Manufacturing Output Production Worker Hours Productivity Personal Income UI Covered Wages *Percentage point change; **Less than 0.05 percent; NA = Not Available THE CONNECTICUT ECONOMIC DIGEST Business Activity New Housing Permits Electricity Sales Retail Sales Construction Contracts Index New Auto Registrations Air Cargo Tons Business Starts Secretary of the State Dept. of Labor Business Terminations Secretary of the State Dept. of Labor State Tax Collections Corporate Tax Personal Income Tax Real Estate Conveyance Tax Sales & Use Tax Tourism and Travel Tourism Inquiries Tourism Info Centers Attraction Visitors Hotel-Motel Occupancy Air Passenger Count Employment Cost Index (U.S.) Total Wages & Salaries Benefit Costs Consumer Price Index U.S. City Average Northeast Region NY-NJ-Long Island Boston-Brockton-Nashua Consumer Confidence U.S New England Interest Rates Prime * Conventional Mortgage * THE CONNECTICUT ECONOMIC DIGEST A joint publication of The Connecticut Departments of Labor and Economic and Community Development Mailing address: Connecticut Economic Digest Connecticut Department of Labor Office of Research 200 Folly Brook Boulevard Wethersfield, CT The Connecticut Economic Digest is available on the internet at: or THE CONNECTICUT ECONOMIC DIGEST