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Updated: December 27, 2019 ECONOMIST SCORECARDS

Moderate growth likely as demographics create long-term challenges for CT

By Patrick J. Flaherty
Patrick J. Flaherty, Assistant Director of Research, Connecticut Department of Labor

Assuming the U.S. economy avoids a recession in 2020, Connecticut’s economy will continue to grow. Average employment through October is up more than 7,000 jobs above the first 10 months of 2018, a faster pace of job growth than we’ve seen during the first 10 months in each of the past three years.

Healthcare employment is growing, driven by increases in ambulatory care and home healthcare services. Transportation and warehousing will also increase as online shopping continues to grow. Manufacturing, which has been growing for the past three years, will continue to expand.

The largest challenge facing Connecticut (and many other states) is demographics. The unemployment rate is low and the number of job openings is high. Businesses are facing difficult challenges filling open positions. This is good news for workers who have faced barriers to employment in the past. This should also lead to faster wage growth.

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