Vol.24 No.4 A joint publication of the Connecticut Department of Labor & the Connecticut Department of Economic and Community Development

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1 THE CONNECTICUT ECONOMIC DIGEST Vol.24 No.4 A joint publication of the Connecticut Department of Labor & the Connecticut Department of Economic and Community Development APRIL 2019 IN THIS ISSUE... Connecticut Exports At Record High Complete Streets are Sweet 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 In February... Nonfarm Employment Connecticut... 1,693,900 Change over month % Change over year % United States ,606,000 Change over month % Change over year % Unemployment Rate Connecticut...3.8% United States...3.8% Consumer Price Index United States Change over year % Connecticut Exports At Record High By Laura Jaworski, Office of International and Domestic Business Development, DECD T he dynamics of international trade is multifaceted and intertwined with geopolitics, the relative strength of the U.S. dollar, U.S. demand for imported goods, tariffs and free trade agreements (new and revised). Trade s importance as a driver of economic growth is significant, as exports contribute to economic health and job creation. To assess Connecticut s export status, The Connecticut Economic Digest conducts an annual review of the state s export performance. A review of the state s 2018 export position follows Annual Export Figures In 2018, Connecticut s commodity exports totaled $17.39 billion, a 17.70% increase and positive upswing from the $14.78 billion registered in It is important to note, as significant as commodity exports are, they omit service exports, for which the collection of data is inexact and unavailable at the state level. All U.S. states face this data gap. This means that export figures for a state like Connecticut, with a large concentration of insurance, financial and other services, understate the true magnitude of its overall export value. 1 Connecticut Exports, ($ in billions) THE CONNECTICUT ECONOMIC DIGEST 1

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: Erin C. Wilkins 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 Kurt Westby, Commissioner Danté Bartolomeo, Deputy Commissioner Daryle Dudzinski, 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 David Lehman, Commissioner David Kooris, Deputy Commissioner 450 Columbus Boulevard Suite 5 Hartford, CT Phone: (860) Fax: (860) decd@ct.gov Website: Data indicates that 5,566 companies exported from Connecticut in Of these companies, 89% were small and medium-sized enterprises (SMEs) with fewer than 500 employees. In 2016, 65,140 U.S. jobs were supported by goods exported from Connecticut. 2 Connecticut s export ranking among the states has held steady for many years. As in previous years, in 2018 Connecticut ranked 27 th in the U.S. Texas, California, New York, Washington and Louisiana were the top five export states in 2018, ranked in terms of export commodity dollars. Among the 50 states, Maryland experienced the greatest percentage increase in 2018 at 29.60%, largely driven by a surge in coal exports. U.S. Exports U.S. commodity exports experienced continued growth in 2018 and totaled more than $1.66 trillion in 2018, representing a 7.62% increase over the $1.54 trillion recorded in Due to geographic proximity and NAFTA, it should come as no surprise that Canada and Mexico were the top two destinations for U.S. exports in 2018, followed by China, Japan and the United Kingdom. New England Exports In New England in 2018, 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 $57.97 billion in 2018, a 4.68% increase from The top five export destinations for New England commodities were Canada, Germany, China, France and Mexico. Connecticut Export Composition Connecticut s top export commodities mirror the state s advanced manufacturing strengths and there is a demonstrated consistency among the state s top exports was no exception. Last year 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) optic, photo, medical or surgical instruments; (4) electric machinery, sound equipment, TV equipment, parts and (5) special classification provisions, not elsewhere specified or indicated (Nesoi). The bulk of special classification provisions were composed of exports of repaired imports. Please refer to the associated charts for greater detail on the state s export strengths and composition. Drilling down an additional layer into the HS commodity codes for greater export insight reveals the transportation sector s dominance of Connecticut exports in the aerospace and defense industry. At the four-digit HS level, the state s top exports included civilian aircraft, engines, parts; exports of repaired imports; and turbojets, turbopropellers. 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 2018, the top five U.S. export commodities were (1) industrial machinery, including computers; (2) mineral fuel, oil, bitumen substances, mineral wax; (3) electric machinery, sound equipment, TV equipment, parts; (4) aircraft, spacecraft and parts thereof and (5) vehicles, except railway or tramway, and parts. In 2018, the New England region s top five export commodities were (1) industrial machinery, including computers; (2) electric 2 THE CONNECTICUT ECONOMIC DIGEST

3 Connecticut Exports by Commodity Rank Description ANNUAL 2017 ANNUAL 2018 % TOTAL ALL COMMODITIES 14,783,749,496 17,399,913, Aircraft, Spacecraft, And Parts Thereof 5,677,098,480 7,176,873, Industrial Machinery, Including Computers 2,596,056,075 3,011,107, Optic, Photo Etc, Medic Or Surgical Instrments Etc 1,217,588,294 1,397,749, Electric Machinery Etc; Sound Equip; Tv Equip; Pts 1,138,116,536 1,073,359, Special Classification Provisions, Nesoi 796,158, ,877, Plastics And Articles Thereof 404,177, ,377, Pharmaceutical Products 35,554, ,737, Inorg Chem; Prec & Rare Earth Met & Radioact Compd 227,274, ,758, Miscellaneous Chemical Products 153,592, ,874, Vehicles, Except Railway Or Tramway, And Parts Etc 123,401, ,089, CT Exports by Country Rank Description ANNUAL 2017 ANNUAL 2018 % TOTAL ALL PARTNER COUNTRIES 14,783,749,496 17,399,913, France 2,114,066,967 3,178,215, Germany 1,824,686,109 2,332,009, Canada 1,906,951,049 1,952,280, United Kingdom 1,300,057,528 1,485,638, Mexico 1,036,231, ,479, China 795,096, ,670, Netherlands 619,400, ,225, Japan 546,683, ,046, Singapore 399,476, ,280, Korea, Republic Of 539,062, ,934, grant award from the U.S. Small Business Administration (SBA). The program s goals are to increase the number of small business exporters and increase export sales. In conjunction with organizations such as the Connecticut Center for Advanced Technology (CCAT), local U.S. Department of Commerce Export Assistance Center (USEAC), Connecticut Economic Resource Center (CERC) and others, DECD directs STEP funds towards small businesses for export development and training opportunities, company participation in foreign and domestic trade shows and trade missions, website translation, as well as other export initiatives and events. machinery, sound equipment, TV equipment, parts; (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 ten commodity export destinations were France, Germany, Canada, the United Kingdom, Mexico, China, the Netherlands, Japan, Singapore and Korea. Connecticut exported over $1 billion to each of its top four trade partners in 2018, with over $3.17 billion directed to France. Among the state s top ten partners, all but two experienced export increases, the most significant percentage increases belonging to Singapore (56.02%) and Germany (27.80%). Among the state s top ten commodity exports, Connecticut exports of vehicles, except railway or tramway, and aircraft, spacecraft, parts increased to both Singapore and Germany. Singapore is notably a significant market for aerospace maintenance, repair and overhaul. State Trade Expansion Promotion (STEP) Grant The state and federal government continue to partner to help Connecticut companies take advantage of export opportunities. For example, DECD administers a State Trade Expansion Promotion (STEP) 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 WISER database, Connecticut Exports, Jobs, & Foreign Investment, U.S. Department of Commerce International Trade Administration, statereports/states/ct.pdf, February THE CONNECTICUT ECONOMIC DIGEST 3

4 Complete Streets are Sweet By Al Sylvestre, Research Analyst, Department of Labor B ecause every trip begins and ends on foot, universal access to work, education, and recreation is the guiding principle that gave rise to complete streets, the design and operation of streets that are safe for all users inclusive of people with disabilities and public transit users as well as motorized and non-motorized vehicle operators. Since 2009, the Department of Transportation (ConnDOT), guided by its Bicycle and Pedestrian Advisory Board (Bike and Ped Board), is bringing safer commuting to Connecticut s cities and towns. This article illustrates some benefits attributable to complete streets along with a brief description of how ConnDOT supports municipal efforts to bring complete streets to their residents. The Capitol Region Council of Governments (CRCOG) outlines five categories of Complete Streets benefits in its bike and ped plan for the region: Mobility because everyone is a pedestrian, individuals rather than motor vehicles become the focal point of street movement. Complete streets accommodate the transportation needs of people with disabilities, bicycle commuters, and people who walk for recreation, work, and school. Complete streets extend public transit s reach by accommodating the first and last mile between transit and trip origins and destinations. Public health sixty percent of American children are being driven to and from school, likely increasing their risk of developing health conditions associated with sedentary life styles. The American Heart Association reported that physical activity is used to treat people with mental illness, and West Virginia University study concluded that promoting walking and cycling encourages physically active lifestyles. Complete streets, in combination with walking and cycling trails, provide the means by which people can be more physically active. Economy complete streets bring people to businesses while bike paths can create economic vitality in the places through which they pass. Developments supporting biking and walking make for more valuable housing as demonstrated by a housing study finding that clustered homes 1 in both Amherst and Concord, MA yielded higher values than those with larger lots. For those who cannot drive or afford a car, complete streets provide access to jobs. Environment complete streets reduce private automobile trips that contribute 62% of transportation-related CO 2. The Connecticut Climate Change Action Program concluded that vehicle miles traveled (VMT) reductions of 20 to 30 percent are achievable through increased transit use, walking, and bicycling. Cities and towns with complete streets had 5 to 15 percent fewer VMT than automobile-dependent places. Family and Community complete streets foster neighborhood connections that are the building blocks of community pride that nurtures desirable places to live. As the use of walkability scores on real estate web sites indicates, sidewalks and places to walk are important factors people consider when searching for a place to live. A CRCOG survey found that majorities of 86%, 81%, and 65% among Hartford, West Hartford, and Suffield survey respondents agreed on the need for more places where people can walk, rather than drive, from their home to shops, work, and recreation. Focused on vision, goals, and strategy developed with public input, ConnDOT updated its bike and ped plan and map to support complete streets. The update included these projects and programs: The Community Connectivity Program to improve walking and bicycling conditions with road safety audits (RSA) at bike and pedestrian corridors and intersections; a RSA identifies safe-travel impediments and recommends measures to reduce vehicle crashes; 80 municipalities have conducted RSA as of early this year; The Strategic Highway Safety Plan that sets statewide death and injury reduction goals and objectives; emphasizing engineering, education, emergency medical services, 4 THE CONNECTICUT ECONOMIC DIGEST

5 and enforcement, the plan seeks to improve nonmotorized users safety; Educational Outreach and Awareness Campaigns that seek to reduce pedestrian deaths and injuries while addressing pedestrian visibility and driver distraction by encouraging drivers to be aware of their surroundings; Watch for Me CT is a media campaign promoting safety awareness that seeks to reach all pedestrians and drivers with messages in English and Spanish; ConnDOT is upgrading pedestrian warning signs to a fluorescent yellow background with colored posts to enhance visibility, especially during dawn and dusk. All mid-block cross walks received yieldline pavement markings and yield-to-pedestrians signs on state routes. In the ten years since Connecticut has had complete streets as a matter of law, it has seen increased complete streets acceptance from New Haven s first-in-the-state complete streets ordinance, bike-share program, and signalized bike lanes to East Hartford s first complete streets project on a state road to Metro North s installation of bike racks on its trains. With the adoption of complete streets plans in an increasing number of municipalities, the state is on a path to widespread adoption of complete streets universal design concepts. Inclusion of people with disabilities and other communities for whom complete streets break down the barriers of isolation will give them equal opportunity to contribute to the community at large. 1 Clustered housing, generally associated with greater walkability, allows developers to build more homes on less total land. GENERAL ECONOMIC INDICATORS 4Q 4Q CHANGE 3Q (Seasonally adjusted) NO. % 2018 General Drift Indicator (1996=100)* Leading Coincident Liberty Bank Business Barometer (1992=100)** Philadelphia Fed's Coincident Index (2007=100)*** Jan Jan Dec (Seasonally adjusted) Connecticut United States Sources: *Dr. Steven P. Lanza, University of Connecticut **Liberty 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 Liberty 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. % 2019 TOTAL NONFARM 1, , ,694.3 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. % 2019 Labor Force, resident (000s) 1, , ,923.6 Employed (000s) 1, , ,849.7 Unemployed (000s) Unemployment Rate (%) Labor Force Participation Rate (%) Employment-Population Ratio (%) Average Weekly Initial Claims 2,707 3, ,096 Avg. Insured Unemp. Rate (%) Q 2018 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) 3,689 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 2019 is forecasted to increase 2.4 percent from a year earlier. INCOME (Seasonally adjusted) 3Q* 3Q CHANGE 2Q* (Annualized; $ Millions) NO. % 2019 Personal Income $272,324 $265,852 6, $270,691 UI Covered Wages $118,533 $115,410 3, $117,745 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 , ,574 2, Construction Contracts Index (1980=100) Feb New Auto Registrations Feb , ,206 34, Exports (Bil. $) 4Q S&P 500: Monthly Close Feb , New auto registrations decreased over the year. STATE Sources: Connecticut Department of Economic and Community Development; U.S. Department of Energy, Energy Information Administration; Connecticut Department of Revenue Services; F.W. Dodge; Connecticut Department of Motor Vehicles; Wisertrade.org * Estimated by the Bureau of the Census BUSINESS STARTS AND TERMINATIONS Y/Y % YEAR TO DATE % MO/QTR LEVEL CHG CURRENT PRIOR CHG STARTS Secretary of the State Feb , ,300 5, Department of Labor 3Q , ,136 8, TERMINATIONS Secretary of the State Feb , ,273 2, Department of Labor 3Q , ,315 5, Sources: Connecticut Secretary of the State; Connecticut Department of Labor Net business formation, as measured by starts minus stops registered with the Secretary of the State, was up over the year. STATE REVENUES YEAR TO DATE Feb Feb % % (Millions of dollars) CHG CURRENT PRIOR CHG TOTAL ALL REVENUES* 1, , , , Corporate Tax Personal Income Tax , , Real Estate Conv. Tax Sales & Use Tax Gaming Payments** Total revenues were up from a year ago. Sources: Connecticut Department of Revenue Services; Division of Special Revenue *Includes all sources of revenue; Only selected sources are displayed; Most July receipts are credited to the prior fiscal year and are not shown. **See page 23 for explanation. TOURISM AND TRAVEL Y/Y % YEAR TO DATE % MONTH LEVEL CHG CURRENT PRIOR CHG Occupancy Rate (%)* Feb Major Attraction Visitors** Feb 2019 NA NA NA NA NA Air Passenger Count Jan 2019 NA NA NA NA NA Gaming Slots (Mil.$)*** Feb , , Gaming slots fell over the year. Sources: Connecticut Department of Transportation, Bureau of Aviation and Ports; Connecticut Commission on Culture and Tourism; Division of Special Revenue *STR, Inc. Due to layoffs, Info Center Visitors data are no longer published. **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 3.0 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 1.5 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 New York-Newark-Jersey City Feb Boston-Cambridge-Newton** Jan CPI-W ( =100) U.S. City Average Feb Source: U.S. Department of Labor, Bureau of Labor Statistics *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 4.37 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. % 2019 Connecticut 1, , ,694.3 Maine Massachusetts 3, , ,662.4 New Hampshire New Jersey 4, , ,191.3 New York 9, , ,734.4 Pennsylvania 6, , ,038.0 Rhode Island Vermont United States 150, , , ,586.0 Eight of nine states in the region gained jobs over the year. Source: U.S. Department of Labor, Bureau of Labor Statistics LABOR FORCE (Seasonally adjusted) NO. % 2019 Connecticut 1,923,575 1,888,653 34, ,923,562 Maine 698, , ,434 Massachusetts 3,843,640 3,761,968 81, ,840,539 New Hampshire 765, ,881 6, ,689 New Jersey 4,444,264 4,425,461 18, ,434,898 New York 9,620,282 9,536,074 84, ,625,219 Pennsylvania 6,469,195 6,401,233 67, ,460,743 Rhode Island 555, , ,147 Vermont 345, , ,641 United States 163,184, ,900,000 1,284, ,229,000 Six 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 2019 Connecticut Maine Massachusetts New Hampshire New Jersey New York Pennsylvania Rhode Island Vermont United States Eight 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 ,730 1,700 1,670 1,640 1,610 1,580 1, Jan 1, , ,694.3 Feb 1, , ,693.9 Mar 1, ,686.1 Apr 1, ,683.7 May 1, ,687.4 Jun 1, ,688.2 Jul 1, ,689.5 Aug 1, ,689.6 Sep 1, ,690.4 Oct 1, ,694.0 Nov 1, ,695.7 Dec 1, ,696.8 UNEMPLOYMENT RATE, SA, % Month Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec LABOR FORCE, SA, 000s Month ,940 1,910 1,880 1,850 1,820 1,790 1,760 1,730 1, Jan 1, ,923.6 Feb 1, ,923.6 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 3,819 3,490 3,096 Feb 3,343 3,639 2,707 Mar 4,173 3,674 Apr 3,523 3,511 May 4,042 3,245 Jun 3,881 3,249 Jul 3,787 3,376 Aug 3,648 3,157 Sep 3,919 3,093 Oct 3,591 3,154 Nov 3,661 3,516 Dec 3,437 4, THE CONNECTICUT ECONOMIC DIGEST

11 ECONOMIC INDICATOR TRENDS STATE REAL AVG MFG HOURLY EARNINGS, NSA, $ Month Jan $10.52 $10.61 $11.45 Feb $10.44 $10.37 $ Mar $10.22 $10.61 Apr $10.31 $ May $10.25 $10.45 Jun $10.47 $ Jul $10.81 $10.46 Aug $10.68 $ Sep $10.40 $10.74 Oct $10.35 $ Nov $10.39 $ Dec $10.69 $11.48 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 1,532 1,411 1,723 Feb 1,546 1,391 1,692 Mar 1,459 1,468 Apr 1,399 1,561 May 1,400 1,598 Jun 1,402 1,628 Jul 1,383 1,666 Aug 1,384 1,680 Sep 1,381 1,691 Oct 1,410 1,707 Nov 1,402 1,709 Dec 1,423 1,691 THE CONNECTICUT ECONOMIC DIGEST 11

12 STATE NONFARM EMPLOYMENT ESTIMATES CONNECTICUT Not Seasonally Adjusted NO. % 2019 TOTAL NONFARM EMPLOYMENT 1,668,400 1,664,600 3, ,665,700 TOTAL PRIVATE 1,427,100 1,423,300 3, ,429,900 GOODS PRODUCING INDUSTRIES 215, ,800 3, ,800 CONSTRUCTION, NAT. RES. & MINING. 55,500 52,700 2, ,900 MANUFACTURING 160, ,100 1, ,900 Durable Goods 126, ,000 1, ,700 Fabricated Metal 29,700 29, ,700 Machinery 12,700 13, ,700 Computer and Electronic Product 10,900 10, ,900 Transportation Equipment ,300 45,100 1, ,300 Aerospace Product and Parts 31,200 30,100 1, ,400 Non-Durable Goods 34,200 34, ,200 Chemical 7,700 7, ,700 SERVICE PROVIDING INDUSTRIES 1,452,700 1,452, ,449,900 TRADE, TRANSPORTATION, UTILITIES.. 289, ,400-3, ,000 Wholesale Trade 60,800 61, ,800 Retail Trade 173, ,900-4, ,500 Motor Vehicle and Parts Dealers 21,500 21, ,500 Building Material 14,100 14, ,200 Food and Beverage Stores 42,000 42, ,200 General Merchandise Stores 26,900 27, ,900 Transportation, Warehousing, & Utilities 55,000 53,400 1, ,700 Utilities 5,100 5, ,100 Transportation and Warehousing 49,900 48,100 1, ,600 INFORMATION 32,800 32, ,600 Telecommunications 7,300 7, ,300 FINANCIAL ACTIVITIES 125, , ,000 Finance and Insurance 105, , ,000 Credit Intermediation and Related 23,500 23, ,600 Financial Investments and Related 22,900 22, ,900 Insurance Carriers & Related Activities 59,400 59, ,500 Real Estate and Rental and Leasing 19,900 19, ,000 PROFESSIONAL & BUSINESS SERVICES 211, ,600-4, ,700 Professional, Scientific 98,200 97,100 1, ,000 Legal Services 13,000 12, ,000 Computer Systems Design 24,900 25, ,800 Management of Companies 32,700 34,000-1, ,500 Administrative and Support 80,600 84,500-3, ,200 Employment Services 28,600 27,400 1, ,500 EDUCATION AND HEALTH SERVICES 338, ,300 3, ,200 Educational Services 70,200 68,100 2, ,800 Health Care and Social Assistance 268, ,200 1, ,400 Hospitals 58,300 57,000 1, ,100 Nursing & Residential Care Facilities 60,500 60, ,900 Social Assistance 56,400 57,500-1, ,200 LEISURE AND HOSPITALITY 150, ,900 3, ,700 Arts, Entertainment, and Recreation 23,300 23, ,500 Accommodation and Food Services 126, ,500 3, ,200 Food Serv., Restaurants, Drinking Places 116, ,700 3, ,400 OTHER SERVICES 63,600 63, ,900 GOVERNMENT 241, , ,800 Federal Government 18,000 17, ,100 State Government. 74,100 72,900 1, ,600 Local Government** 149, ,500-1, ,100 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. % 2019 TOTAL NONFARM EMPLOYMENT 400, , ,200 TOTAL PRIVATE 356, , ,800 GOODS PRODUCING INDUSTRIES 40,800 39, ,800 CONSTRUCTION, NAT. RES. & MINING. 12,000 11, ,000 MANUFACTURING 28,800 28, ,800 Durable Goods 22,200 22, ,200 SERVICE PROVIDING INDUSTRIES 359, ,600-1, ,400 TRADE, TRANSPORTATION, UTILITIES.. 68,000 68, ,900 Wholesale Trade 13,400 13, ,400 Retail Trade 45,200 46, ,000 Transportation, Warehousing, & Utilities 9,400 9, ,500 INFORMATION 13,300 12, ,200 FINANCIAL ACTIVITIES 39,100 38, ,100 Finance and Insurance 32,800 32, ,900 Credit Intermediation and Related 7,100 8,300-1, ,200 Financial Investments and Related 16,400 16, ,500 PROFESSIONAL & BUSINESS SERVICES 62,300 63,500-1, ,100 Professional, Scientific 29,400 29, ,100 Administrative and Support 21,200 22, ,700 EDUCATION AND HEALTH SERVICES 74,400 74, ,700 Health Care and Social Assistance 61,700 62, ,100 LEISURE AND HOSPITALITY 41,100 40, ,800 Accommodation and Food Services 32,700 31,700 1, ,000 OTHER SERVICES 17,100 17, ,200 GOVERNMENT 44,200 44, ,400 Federal 2,400 2, ,400 State & Local 41,800 41, ,000 DANBURY LMA Not Seasonally Adjusted NO. % 2019 TOTAL NONFARM EMPLOYMENT 76,400 76, ,900 TOTAL PRIVATE 66,400 66, ,100 GOODS PRODUCING INDUSTRIES 11,400 11, ,500 SERVICE PROVIDING INDUSTRIES 65,000 64, ,400 TRADE, TRANSPORTATION, UTILITIES.. 17,100 17, ,200 Retail Trade 12,100 12, ,200 PROFESSIONAL & BUSINESS SERVICES 9,800 9, ,800 LEISURE AND HOSPITALITY 7,700 7, ,700 GOVERNMENT 10,000 10, ,800 Federal State & Local 9,300 9, ,100 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. % 2019 TOTAL NONFARM EMPLOYMENT 575, , ,800 TOTAL PRIVATE 482, , ,500 GOODS PRODUCING INDUSTRIES 76,700 75, ,100 CONSTRUCTION, NAT. RES. & MINING. 17,200 17, ,500 MANUFACTURING 59,500 58,300 1, ,600 Durable Goods 49,700 48,500 1, ,700 Non-Durable Goods 9,800 9, ,900 SERVICE PROVIDING INDUSTRIES 499, , ,700 TRADE, TRANSPORTATION, UTILITIES.. 89,600 91,100-1, ,200 Wholesale Trade 17,500 17, ,600 Retail Trade 52,500 54,300-1, ,700 Transportation, Warehousing, & Utilities 19,600 18, ,900 Transportation and Warehousing 18,900 18, ,100 INFORMATION 10,000 10, ,000 FINANCIAL ACTIVITIES 56,600 56, ,200 Depository Credit Institutions 6,000 6, ,100 Insurance Carriers & Related Activities 38,600 38, ,600 PROFESSIONAL & BUSINESS SERVICES 71,000 72,600-1, ,900 Professional, Scientific 34,000 34, ,300 Management of Companies 11,400 11, ,300 Administrative and Support 25,600 26,600-1, ,300 EDUCATION AND HEALTH SERVICES 109, ,300 1, ,100 Educational Services 14,300 14, ,700 Health Care and Social Assistance 95,200 94,200 1, ,400 Ambulatory Health Care 32,500 31, ,800 LEISURE AND HOSPITALITY 47,100 45,600 1, ,200 Accommodation and Food Services 40,900 39,200 1, ,800 OTHER SERVICES 21,700 22, ,800 GOVERNMENT 93,500 92, ,300 Federal 5,400 5, ,400 State & Local 88,100 87, ,900 SEASONALLY ADJUSTED TOTAL NONFARM EMPLOYMENT Seasonally Adjusted Labor Market Areas NO. % 2019 BRIDGEPORT-STAMFORD LMA 410, ,000 1, ,900 DANBURY LMA 77,600 77, ,800 HARTFORD LMA 581, ,200 1, ,900 NEW HAVEN LMA 288, ,200 3, ,700 NORWICH-NEW LONDON LMA 129, ,400-1, ,600 WATERBURY LMA 69,200 68, ,200 ENFIELD LMA** 44,700 44, ,100 TORRINGTON-NORTHWEST LMA** 33,100 32, ,900 DANIELSON-NORTHEAST LMA** 26,800 26, ,700 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. % 2019 TOTAL NONFARM EMPLOYMENT 284, ,800 1, ,200 TOTAL PRIVATE 248, ,300 1, ,200 GOODS PRODUCING INDUSTRIES 33,300 32, ,300 CONSTRUCTION, NAT. RES. & MINING. 10,300 9, ,300 MANUFACTURING 23,000 23, ,000 Durable Goods 17,000 16, ,100 SERVICE PROVIDING INDUSTRIES 250, ,900 1, ,900 TRADE, TRANSPORTATION, UTILITIES.. 49,400 50,700-1, ,800 Wholesale Trade 11,200 11, ,200 Retail Trade 27,800 29,200-1, ,100 Transportation, Warehousing, & Utilities 10,400 10, ,500 INFORMATION 3,900 3, ,900 FINANCIAL ACTIVITIES 11,900 12, ,900 Finance and Insurance 8,100 8, ,100 PROFESSIONAL & BUSINESS SERVICES 29,600 30,900-1, ,400 Administrative and Support 14,400 15, ,400 EDUCATION AND HEALTH SERVICES 85,500 81,700 3, ,100 Educational Services 33,500 31,400 2, ,200 Health Care and Social Assistance 52,000 50,300 1, ,900 LEISURE AND HOSPITALITY 24,000 24, ,500 Accommodation and Food Services 20,400 20, ,900 OTHER SERVICES 11,300 11, ,300 GOVERNMENT 35,300 35, ,000 Federal 4,800 4, ,900 State & Local 30,500 30, ,100 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 rose 2.4% in February 2019 The Conference Board Help Wanted OnLine (HWOL) Index for Connecticut increased by 2.4% to (July 2018=100), and were up by 8.4% over the year. Nationally, the index rose by 0.3% over the month, and by 7.0% over the year. Hartford s labor demand increased by 4.7% from January, and rose by 15.9% from a year ago. Among the New England states, Connecticut s demand for labor grew the most, while Rhode Island s index fell over the month. HWOL Index Percent Change July 2018=100 Dec Jan Feb Dec to Jan to Feb to (Seasonally adjusted) Jan Feb Feb United States New England Connecticut Hartford Maine Massachusetts New Hampshire Rhode Island Vermont Source: The Conference Board The Conference Board Experimental Help Wanted OnLine (HWOL) Index measures changes over time in advertised online job vacancies, reflecting monthly trends in employment opportunities across the US. The HWOL Data Series aggregates the total number of ads available by month from the HWOL universe of online job ads. Ads in the HWOL universe are collected in real time from over 28,000 different online job boards including traditional job boards, corporate boards, social media sites, 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. % 2019 TOTAL NONFARM EMPLOYMENT 126, , ,100 TOTAL PRIVATE 96,200 96, ,900 GOODS PRODUCING INDUSTRIES 21,400 21, ,300 CONSTRUCTION, NAT. RES. & MINING. 3,800 3, ,700 MANUFACTURING 17,600 17, ,600 Durable Goods 14,400 14, ,400 Non-Durable Goods 3,200 3, ,200 SERVICE PROVIDING INDUSTRIES 105, , ,800 TRADE, TRANSPORTATION, UTILITIES.. 22,200 22, ,700 Wholesale Trade 2,400 2, ,500 Retail Trade 15,600 15, ,000 Transportation, Warehousing, & Utilities 4,200 4, ,200 INFORMATION 1,400 1, ,400 FINANCIAL ACTIVITIES 2,900 2, ,900 PROFESSIONAL & BUSINESS SERVICES 9,000 9, ,000 EDUCATION AND HEALTH SERVICES 20,900 21, ,000 Health Care and Social Assistance 17,900 18, ,000 LEISURE AND HOSPITALITY 14,900 14, ,100 Accommodation and Food Services 13,100 12, ,200 Food Serv., Restaurants, Drinking Places 11,000 11, ,200 OTHER SERVICES 3,500 3, ,500 GOVERNMENT 30,500 30, ,200 Federal 2,900 2, ,800 State & Local** 27,600 28, ,400 WATERBURY LMA Not Seasonally Adjusted NO. % 2019 TOTAL NONFARM EMPLOYMENT 68,000 67, ,000 TOTAL PRIVATE 57,300 56, ,600 GOODS PRODUCING INDUSTRIES 10,500 10, ,500 CONSTRUCTION, NAT. RES. & MINING. 2,800 2, ,800 MANUFACTURING 7,700 7, ,700 SERVICE PROVIDING INDUSTRIES 57,500 57, ,500 TRADE, TRANSPORTATION, UTILITIES.. 13,000 12, ,300 Wholesale Trade 1,900 1, ,900 Retail Trade 8,800 9, ,000 Transportation, Warehousing, & Utilities 2,300 2, ,400 INFORMATION FINANCIAL ACTIVITIES 2,100 2, ,100 PROFESSIONAL & BUSINESS SERVICES 5,400 5, ,200 EDUCATION AND HEALTH SERVICES 17,800 17, ,900 Health Care and Social Assistance 16,000 15, ,100 LEISURE AND HOSPITALITY 5,400 5, ,400 OTHER SERVICES 2,600 2, ,700 GOVERNMENT 10,700 10, ,400 Federal State & Local 10,200 10, ,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. **Includes Indian tribal government employment. 16 THE CONNECTICUT ECONOMIC DIGEST

17 NONFARM EMPLOYMENT ESTIMATES LMA SMALLER LMAS* Not Seasonally Adjusted NO. % 2019 TOTAL NONFARM EMPLOYMENT ENFIELD LMA 44,300 44, ,700 TORRINGTON-NORTHWEST LMA 32,000 31, ,100 DANIELSON-NORTHEAST LMA 26,300 26, ,300 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 SPRINGFIELD, MA-CT NECTA** Not Seasonally Adjusted NO. % 2019 TOTAL NONFARM EMPLOYMENT 339, ,200 5, ,600 TOTAL PRIVATE 275, ,300 4, ,300 GOODS PRODUCING INDUSTRIES 39,300 39, ,400 CONSTRUCTION, NAT. RES. & MINING. 10,800 10, ,700 MANUFACTURING 28,500 28, ,700 Durable Goods 19,200 19, ,300 Non-Durable Goods 9,300 9, ,400 SERVICE PROVIDING INDUSTRIES 299, ,800 6, ,200 TRADE, TRANSPORTATION, UTILITIES.. 60,300 60, ,900 Wholesale Trade 11,900 12, ,900 Retail Trade 33,300 34,900-1, ,000 Transportation, Warehousing, & Utilities 15,100 13,500 1, ,000 INFORMATION 3,200 3, ,200 FINANCIAL ACTIVITIES 16,500 16, ,500 Finance and Insurance 13,000 12, ,100 Insurance Carriers & Related Activities 9,000 8, ,900 PROFESSIONAL & BUSINESS SERVICES 26,200 26, ,800 EDUCATION AND HEALTH SERVICES 85,400 83,500 1, ,100 Educational Services 18,200 16,000 2, ,600 Health Care and Social Assistance 67,200 67, ,500 LEISURE AND HOSPITALITY 31,500 28,100 3, ,800 OTHER SERVICES 12,600 12, ,600 GOVERNMENT 64,100 62,900 1, ,300 Federal 5,900 6, ,900 State & Local 58,200 56,900 1, ,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. ** New England City and Town Area THE CONNECTICUT ECONOMIC DIGEST 17

18 LMA LABOR FORCE ESTIMATES EMPLOYMENT (Not seasonally adjusted) STATUS NO. % 2019 CONNECTICUT Civilian Labor Force 1,905,100 1,881,200 23, ,910,700 Employed 1,821,100 1,786,800 34, ,820,500 Unemployed 84,000 94,400-10, ,200 Unemployment Rate BRIDGEPORT-STAMFORD LMA Civilian Labor Force 463, ,300 4, ,500 Employed 443, ,600 6, ,600 Unemployed 20,400 22,700-2, ,900 Unemployment Rate DANBURY LMA Civilian Labor Force 106, ,800 1, ,500 Employed 102, ,300 1, ,000 Unemployed 4,200 4, ,500 Unemployment Rate DANIELSON-NORTHEAST LMA Civilian Labor Force 43,300 42, ,300 Employed 41,100 40, ,100 Unemployed 2,100 2, ,200 Unemployment Rate ENFIELD LMA Civilian Labor Force 51,300 49,600 1, ,400 Employed 49,100 47,200 1, ,100 Unemployed 2,200 2, ,300 Unemployment Rate HARTFORD LMA Civilian Labor Force 628, ,400 8, ,700 Employed 600, ,500 12, ,000 Unemployed 27,500 31,000-3, ,700 Unemployment Rate NEW HAVEN LMA Civilian Labor Force 327, ,200 4, ,800 Employed 314, ,500 6, ,900 Unemployed 13,600 15,600-2, ,900 Unemployment Rate NORWICH-NEW LONDON LMA Civilian Labor Force 141, , ,400 Employed 135, ,400 1, ,600 Unemployed 6,300 7, ,800 Unemployment Rate TORRINGTON-NORTHWEST LMA Civilian Labor Force 46,700 46, ,600 Employed 44,500 43, ,200 Unemployed 2,200 2, ,300 Unemployment Rate WATERBURY LMA Civilian Labor Force 112, ,100 1, ,600 Employed 106, ,000 2, ,200 Unemployed 6,200 7, ,400 Unemployment Rate UNITED STATES Civilian Labor Force 162,793, ,494,000 1,299, ,104,000 Employed 156,167, ,403,000 1,764, ,964,000 Unemployed 6,625,000 7,091, , ,140,000 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 2019 PRODUCTION WORKER MANUFACTURING $1, $1, $93.15 $1, $27.09 $25.21 $1.88 $28.07 DURABLE GOODS 1, , , NON-DUR. GOODS CONSTRUCTION 1, , , ALL EMPLOYEES STATEWIDE TOTAL PRIVATE 1, , , GOODS PRODUCING 1, , , Construction 1, , , Manufacturing 1, , , SERVICE PROVIDING 1, , , 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 1, , Hartford 1, , , New Haven 1, , , 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 New Companies and Expansions Retailer Raymour & Flanigan Furniture is planning to significantly expand its Manchester warehouse space. CareBuilders at Home, a private-duty home care agency opened its first Connecticut location in Stamford. Hartford HealthCare (HHC) opened a cancer treatment center in Manchester. Tolland s CNC Software Inc. plans to hire 25 employees this year, an 11 percent increase. Layoffs and Closures New England Motor Freight has filed for Chapter 11 bankruptcy. They operate a facility in Meriden. The Pottery Barn and Williams-Sonoma at the Stamford Town Center are set to close within the next two months. The Price Rite in Willimantic will be closing. The store employs around 40 people. Chango Rosa, a restaurant in Union Place in Hartford, will close. THE CONNECTICUT ECONOMIC DIGEST 19