Finance and Economy

Essex Savings’ 10% Solution

ESSEX — Results of recent voting by Essex Savings Bank customers who participated in the bank’s Community Investment Program were announced April 17.

The top ten winners in attendance received special " /#visit_us">visit us.

Each year ""> online Bank customers are asked to select from a list of qualified non-profit organizations that applied to the bank for funding. This "">xanax generic 71 organizations applied.


Robbing Peter To Pay Paul

Battle brews over selling assets to pay pensions

HARTFORD — The partisan battle over state government's finances heated up again in the first days of May after a top Republican lawmaker questioned the sale of pension fund assets to cover benefits owed to retired workers.

But state Treasurer "">Denise L. Nappier countered May 3 that "nothing constructive can be gained" by House Minority Leader "site/">Lawrence F. Cafero's comments, adding that state assets have to be sold on occasions during tough fiscal times.

"This ""> more troubling proof that Connecticut's finances are in crisis and that our spending exceeds our revenues in every corner of the state bureaucracy,'' said Cafero, a Norwalk Republican. "We are continually told that our budgets will balance and that we have enough "">buy coming in the door. Neither is true.''

Playing from Behind

Playing from Behind

Survey: State’s economy lags national recovery

HARTFORD — Connecticut's economy continues to lag behind the nationaleconomic recovery, according to a survey of state businesses released June 6.

The Connecticut Business & Industry Association's "/">Quarterly Economic Survey: FirstQuarter 2013 found that just 17 percent of surveyed businesses expect thestate's economy to improve, while almost a quarter (23 percent) saw the U.S.economy "">there.

That outlook repeated a pattern from previous quarters, although visit us now forecaststability for the national economy. Approximately 39 percent thought the state'seconomy would remain stable, up from 34 percent the previous quarter.

"These numbers show a state economy that still has a long way to go to reachsustainable conditions," said CBIA economist Pete Gioia (pictured).

State’s Economy Falls Behind

Connecticut’s economy posted a new superlative last year. And it was not a good one.

The Constitution "/files//#valium_generic">valium generic.tate was alone among 50 states to record negative economic growth last year. The state’s gross domestic product shrank by 0.1 percent in 2012, the worst "/mbien">cheap in the U. "/files//#valium_generic">valium generic., according to a U. "/files//#valium_generic">valium generic. Economic Analysis released "">there 6. Job losses in financial services, real estate and federal, state and local governments were cited as the most significant contributors to the dismal performance.

The financial-services sector, which includes real-estate jobs, fell by ""> between December 2011 and December 2012. Construction jobs also declined by 1,800 over the same time span. Over the same period 1,000 government jobs were shed.

According to the state’s Department of Labor, Connecticut has regained less than half (47 percent) of the jobs it lost during the recession. The state’s unemployment rate is 8.0 percent, compared to " /#here">here.5 percent for the nation.

The negative GDP growth took some economists by surprise. “I wasn’t expecting it to be so bad,’ UConn economist "/files//#valium_generic">valium generic.teven Lanza told the Wall "/files//#valium_generic">valium generic.treet Journal.

Minimum Wage Hike Looms

HARTFORD — The hike in Connecticut’s minimum wage is nearly a done deal, after both legislative houses passed the measure in May. The new law would incrementally raise the state’s minimum wage to $9 per hour by 2015. In a statement, Gov. Dannel Malloy lauded the bill’s passage and said he would sign it into law. ""> current minimum wage is $8.25 "/files click here hour.

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