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Economist: State's Job Recovery Won't Begin Until at Least 2016

Don Klepper-Smith of Durham says Connecticut's recovery from the recession continues to move at a slow pace.

 

By Michael Hayes

On Thursday, the state's Department of Labor reported that unemployment in Connecticut had fallen to 8.6 percent in December.

The figure, however, doesn't account for those who are unemployed but no longer looking work, economist Don Klepper-Smith told the New Haven Register.

The Durham resident, who serves as chief economist at DataCore Partners in New Haven, said Connecticut has only recovered one-quarter of the job losses in the three-and-a-half years since the recovery began.

"Even if we were to assume a ‘robust job scenario’ of roughly 2,000 new jobs each month going forward as we did in the 1980s, we’re still not likely to see full job recovery in Connecticut until mid-2016 at the earliest," he told the paper.

Klepper-Smith tells The Day of New London that the true unemployment rate in Connecticut is 14.4 percent.

Nationally, the official unemployment rate is 7.9 percent.

Daria Novak January 20, 2013 at 04:30 PM
Many of our problems in CT are the result of one party rule for too many decades. We need a vigorous two party system or it becomes a dictatorship of the few & the results are what we are experiencing now. If the chief economist quoted here, Don Klepper-Smith, is correct & true CT unemployment is 14.4%; then it is worse than I imagined. Maybe it's time voters started holding their elected officials accountable & told them to stop the excessive spending & over-control of our state. Obviously, big government & high state spending levels aren't working. For years there was a Democratic supermajority in the state legislature (a veto-proof majority). They continue to have a large majority in the legislature in Hartford & every single constitutional office is held by a Democrat. The blame falls squarely on our elected officials. It is stupidity to continue doing more of the same & expect different results. Our businesses are closing or moving out of state. We continue to be voted the worst state, or close to the bottom, in too many categories. When I was growing up our schools were a positive model for the nation. Now many are a model of what not to do! Extremes like we have are bad for CT & bad for America. We need everyone working together to resolve our problems. People are afraid to speak up because of the personal attacks. We must be strong. This is war by other means to take back America. We ALL must speak up for smaller government or accept this as the norm!

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