CT Unemployment Rate Climbs

CT Unemployment Rate Climbs

Thursday’s jobs report from the State Department of Labor confirmed what we have known all along: our State is in a death spiral, and the status quo is unacceptable. In October and November alone, the State lost nearly 10,000 jobs, and we have recovered just sixty-nine percent of the jobs that were lost in the Great Recession, which began ten years ago this month. While the national unemployment rate is the lowest it has been in nearly two decades, Connecticut’s unemployment rate actually increased to 4.6 percent.

Fortunately, the remedies to our chronic fatigue are simple: we must reduce the tax burdens on our businesses and residents, we must take own regulatory barriers to success, and we must provide employers and entrepreneurs with the confidence that our State is truly open for business if we are to revive our State, and make it prosperous again.

-Dr. Prasad Srinivasan