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Almanac
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Business New Haven
12/29/1997
By: BNH
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Where the Jobs Are
The state's Department of Labor has gazed into its crystal ball to forecast what employers and job-seekers can expect in the next few years. The highlights: On-line employment searches will “revolutionize” the job-placement process for employers and employees. The fastest-growing employment sectors in the state will be computer and financial services, expected between them to generate some 150,000 new jobs in the decade to come. Workers will be more proactive over the course of their careers and assume greater responsibility for job searches. Likewise, emerging software and on-line technology will enable college seniors to take more responsibility for finding their first jobs. Got that?
Speaking of College Seniors...
Continuing what appears to be a trend, more recent Yale College graduates are now entering the working world directly following graduation than their counterparts did in the past. And among those choosing post-graduate education, fewer than ever before are pursuing arts and sciences. A new survey by Yale's Office of Institutional Research shows a steady and marked increase in the percentage of recent graduates entering the job market - from 21 percent in 1971 to 65 percent in 1996. Many are going to work in education (including teaching and research), up from four percent in 1971 to 13 percent last year, and business and finance (from a low of eight percent in 1975 to 17 percent in 1996. In 1970 46 percent of grads went directly to graduate or professional schools; in 1996, only 29 percent did. And the number of those option for graduate school in the arts and sciences has fallen from 16 percent in 1970 to a low of six percent last year.
Holiday Cheer
The Woodbridge C.P.A. and consulting firm of Weinstein & Anastasio have for the fifth year running “adopted” a family for the holiday season. Each year a different family with two or three kids that's experiencing financial hardship is selected from a local parish. This year, with the guidance of Father Jeffries from St. Augustine's Church in Seymour, a family whose father became ill and lost his small business was selected. The family, including two children, has had no income for more than a year. W&A collected donations, including food and clothing, for delivery to the family at Christmas.
Land Office Business
An analysis of combined grand lists for the most recent year available (1995) by the Connecticut Policy & Economic Council (CPEC) shows little growth in real estate values beyond that attributable to revaluation of existing property. The 3.5 percent hike in total municipal property values to $181.1 billion from 1994 to '95 is due primarily to tax revaluations. The largest grand list belongs to - no surprise here - Greenwich ($9.7 billion), followed by Stamford, Hartford, Danbury, Fairfield and West Hartford. However, New Haven County posted the greatest increase in property values from '94 to '95, edging out Fairfield County 4.6 to 4.5 percent.
Reason Enough
Not To Like It
From a City Hall press release announcing the city's new web site (www.cityofnew-
haven.com), which debuted December 16: [Mayor John] DeStefano noted that Vice President Al Gore previewed the site in order to prepare for his visit to New Haven earlier this year and gave it a thumbs-up.”
Small Is Big
The U.S. Small Business Administration (SBA) Office of Advocacy's recently released “1996 Small Business Profile” may help to allay lingering doubts about the impact of small businesses on the state's economy. According to the report, of 78,084 full-time businesses with employees in Connecticut 97.7 percent are by the SBA's definition (500 or fewer employees) “small” businesses. In addition to that number, there were more than 121,000 full-time self-employed workers in the state in 1995 (the most recent year for which figures are available) - bringing to nearly 200,000 the estimated full-time small-business population. Health services comprise the business of a majority of smaller firms, accounting for some 167,000 employees in the work force. Other small-business sectors with significant employment: eating and drinking establishments, business services, wholesale trade in durable goods and social-service organizations.
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