Screen Shot 2018 06 20 at 9.28.40 AMHARTFORD: Connecticut may finally be joining the national job growth that it has been lagging. In May the state added 4100 jobs, one of the largest monthly gains in yars and follow two months of job declines.

The state saw gains in the private sector by 4300 jobs and Connecticut has gained all of the jobs lost in the recession. CBIA’s economist Peter Goia said “the private sector is starting to grow at a moderate rate,” he added, “the state is starting to see year-over-year trends that are more positive. The biggest concern is that the labor force shrank again.”

jetengine

Forbes Magazine: "Pratt's 20 years developing geared turbofan technology has paid off with an engine that is way ahead of the competition. It is an amazing feat to have accomplished this with a manufacturing base concentrated in the high-wage,
high-tax state of Connecticut."


 

FARMINGTON: For more than two decades the news out of United Technologies Corp. (NYSE: UTX) headquarters has been pretty mixed. Connecticut employment at one time more than 25,000 dwindled to as little as 15,000 in the state until things started picking up two years ago and the company added 3,000 jobs.

The future in Connecticut looks a lot different today with the announcement by the company that thanks in part to the recent tax reform package, a major capital and employment expansion is on the horizon. Gregory J. Hayes, Chairman & CEO announced the company would be hiring 35,000 people and investing $15 billion in research and development and capital improvement across the company over the next five years.

As many as 7,000 of those hires, including 2,000 new positions will be in Connecticut.

The company stinging from criticism of employment issues at its Carrier division cited its commitment to US based employment.

Hayes said "Over the past three years, we have created more jobs in the U.S. than in the rest of the world combined. Our investments reflect our core belief that, similar to U.S. economic goals, United Technologies' continued success will be dependent on a highly-skilled workforce, world class manufacturing facilities, and workforce education programs that enable employees to improve their skills and remain competitive in an increasingly digital economy."

A company release quoted its CEO saying “federal tax reform, which slashed the corporate tax rate along with lower rates for individual taxpayers, means the U.S. now has the most competitive tax system in the world.”

The release added, “as a direct result [of tax reform], UTC intends to repatriate about $5 billion of cash tied to its overseas operations that will benefit from more favorable tax treatment at home.”

Most of the 35,000 job openings will result from workforce retirements or normal turnover, but that “several thousand positions” including the 2,000 in Connecticut would be net new jobs.

employment magnifying glassHARTFORD: The Connecticut Labor Department reported another loss in jobs by the state even as the US economy added more than 168,000 jobs in April. The loss of 1,400 jobs follows a loss of 3500 jobs in March, which was revised from an initial estimate of 2000 lost jobs. The job numbers didn’t move the needle on the unemployment rate which remained at 4.5%, the US unemployment rate was 3.9% in April.

Connecticut is only one of seven US states that have not recovered the jobs lost in the recession. Alabama is short 62,637 jobs, or 3%, West Virginia 33,428 [4%], Mississippi 26,666 [2%], New Mexico  23,422 [2%], Connecticut 19,781 [1%], Wyoming 13,257 [4%] and Illinois 11,682 [0.2%].

George JepsenHARTFORD: Connecticut Attorney General, George Jepsen has again issued an opinion on the attempts by state legistlators to limit the speech rights of employers.

House Bill 5473, which would restrict businesses’ ability to speak freely in meetings with their employees on political, legislative, regulatory, or union organizing topics.

Jepsen said that the opinion found that federal law under the National Labor Relations Act (NLRA) would preempt the state legislation. He made a similar ruling in 2011 on a different bill, but proponents argue that the attendance at meetings is not speech but an action by the companies.

Screen Shot 2018 03 29 at 8.55.16 AMWETHERSFIELD: Employment in the state has continued to grow with an additional 2600 jobs added in February. The unemployment rate however increased to 4.6%

During the past year, nonagricultural employment in the state grew by 8,100 jobs (0.5%).

A little more good news, the January jobs number was revised upward to 3800 net new jobs from 3400.

The February jobs gain is the fourth consecutive month of job gains for the state.

Private Sector employment grew by 2,500 (0.2%) to 1,461,200 jobs over the month in February, and by 12,300 (0.8%) seasonally adjusted jobs over the year. The Government supersector gained 100 positions in February to a total of 230,800, but over-the-year losses were at -4,200 or -1.8%. The Government supersector includes all federal, state and local employment, including public higher education and Native American casino employment located on tribal land.

blackjackSPRINGFIELD: Mass., While MGM pitches a new casino for Bridgeport just over the the Connecticut border in Massachusetts the company has opened a training facility for casino dealers. Located on the ninth floor of the old State Building in the heart of downtown the “school” overlooks the MGM complex being built.

MGM has promised a similar training facility for Bridgeport and New Haven if it gets a go ahead for a Bridgeport casino.

As casinos pop up across the U.S and the region and job opportunities can be found from Rhode island to a new casino being built on the former Concord Hotel in New York’s Catskills.

nahas
Christian Nahas has been appointed President of Edible Brands, and will work from the company's "second" headquarters in Atlanta.

WALLINGFORD: Edible International is opening a second headquarters in Atlanta and has named Christian Nahas as President of Edible Brands, Nahas will work out of Atlanta.

In this newly-created position, Nahas will oversee all commercial operations of what the company says is “the world's largest franchisor of shops offering creatively designed fresh cut fruit arrangements and all-natural, fresh fruit snacks and treats.”

Founder and CEO Tariq Farid of Edible said that the brand's Connecticut headquarters will continue to serve as its home base, while the Atlanta office will provide Edible “with expanded franchise and retail resources. In addition, Atlanta's more central location and access to major transportation hubs makes it an attractive location to base much of the team needed to support the company's next phase of growth into new markets and product categories.”