[JayCT]

Originally Posted by Henry10

I'd like to see some stats of how people like me, who moved to CT full-time from NYC have boosted income and spending. Just like me, for most people this move is temporary. Either move back to NYC, or for greener and warmer pastures

About people having more disposable income -- this is also temporary. When Covid is over people will go back to their spending ways. Just right now, many people are scared. Just look at the highways in green today in FFC. Many people are staying home.

Why do you think this is temporary or tied to New York? It is not. Connecticut has a long history of affluence and none of that is based on temporary conditions. Our state’s affluence is pretty much statewide with every county having family and household incomes well above the national average.

Also note that the vast majority of people in our state do not leave it for “greener and warmer pastures”. Most stay put. According to the US Census 17.7% of Connecticuts population is over 65 years old. That compares to 16.7% in North Carolina; 14.3% in Georgia or 18.2% in South Carolina. If Connecticut retirees all truly left our state as you think, our percentage of residents over 65 years old would be a lot lower compared to those warm weather states. Heck even the Retirement Capitol of the World, Florida only has 20.7% of its population over 65 years old. That’s not that much more than we have. Jay

https://www.census.gov/quickfacts/CT

https://www.census.gov/quickfacts/NC

https://www.census.gov/quickfacts/GA

https://www.census.gov/quickfacts/SC

https://www.census.gov/quickfacts/FL

[masssachoicetts]

Originally Posted by BobNJ1960

Its lousy also. From Maryland up, only Massachusetts has consistently performed well. Great leadership there under Baker who I was lucky enough to have met.

I agree with this. Most is just sprawl. I really thought NJ would be like a MA in build out. I was very wrong.

Although, I think CTs buildout is very nice and closer to MA than a overcrowded and sprawled NJ/LI layout.

[kidyankee764]

Originally Posted by BobNJ1960

Job and GDP growth %.

We are amongst the worst in recovering jobs lost at the start of the pandemic.

Exactly. People here love to scream about the current rankings, but when you look at CT ranking nearly dead last in both income growth and GDP growth lately, it’s very concerning. When other states are growing at much higher rates for both, coupled with CT’s near stagnancy, it’s hard to say with a straight face it’s not going to eventually affect where CT falls on the list.

Who cares about growth, they ask? Well, anyone who enjoys a high quality of life should care. The benefit of economic growth is higher living standards – greater incomes and the ability to devote more resources to areas like health care and education.

According to most studies, a healthy GDP growth rate is at least 2%. The 10 year growth in GDP for CT was -2.8%. The change from 2020 to 2021 was -4.1%. For comparison purposes, states mentioned above had amazing GDP growth rates (California at 32% in the last decade, and FL at 22% in the last decade).

https://www.forbes.com/sites/andrewd...h=6be63a1f846c

We cant essentially suggest economic and GDP growth is unnecessary when also boasting about the current high GDP ranking. If these numbers mean anything, it won’t be high for long.

[SteveM85]

Originally Posted by JayCT

Why do you think this is temporary or tied to New York? It is not. Connecticut has a long history of affluence and none of that is based on temporary conditions. Our state’s affluence is pretty much statewide with every county having family and household incomes well above the national average.

Also note that the vast majority of people in our state do not leave it for “greener and warmer pastures”. Most stay put. According to the US Census 17.7% of Connecticuts population is over 65 years old. That compares to 16.7% in North Carolina; 14.3% in Georgia or 18.2% in South Carolina. If Connecticut retirees all truly left our state as you think, our percentage of residents over 65 years old would be a lot lower compared to those warm weather states. Heck even the Retirement Capitol of the World, Florida only has 20.7% of its population over 65 years old. That’s not that much more than we have. Jay

https://www.census.gov/quickfacts/CT

https://www.census.gov/quickfacts/NC

https://www.census.gov/quickfacts/GA

https://www.census.gov/quickfacts/SC

https://www.census.gov/quickfacts/FL

Many snowbirders too in State. Yet another testament to CT's affluence and the large amount of high income earning and disposing personnel who can afford such luxuries. The Boca 183 club.

[SteveM85]

Originally Posted by Henry10

About people having more disposable income -- this is also temporary. When Covid is over people will go back to their spending ways.

You're goddamn right they will, and with a fervor and vengeance. Here in THE County they eat and drink to comatose.

[JayCT]

Originally Posted by kidyankee764

Exactly. People here love to scream about the current rankings, but when you look at CT ranking nearly dead last in both income growth and GDP growth lately, it’s very concerning. When other states are growing at much higher rates for both, coupled with CT’s near stagnancy, it’s hard to say with a straight face it’s not going to eventually affect where CT falls on the list.

Who cares about growth, they ask? Well, anyone who enjoys a high quality of life should care. The benefit of economic growth is higher living standards – greater incomes and the ability to devote more resources to areas like health care and education.

According to most studies, a healthy GDP growth rate is at least 2%. The 10 year growth in GDP for CT was -2.8%. The change from 2020 to 2021 was -4.1%. For comparison purposes, states mentioned above had amazing GDP growth rates (California at 32% in the last decade, and FL at 22% in the last decade).

https://www.forbes.com/sites/andrewd...h=6be63a1f846c

We cant essentially suggest economic and GDP growth is unnecessary when also boasting about the current high GDP ranking. If these numbers mean anything, it won’t be high for long.

Are you saying Connecticut does not have a high quality of life? According to this analysis Connecticut is No. 4. That means we are already there. No reason to change that. We are also at or near the top for education and health. That pretty impressive whether you want to admit it or not.

https://247wallst.com/special-report...-livability/2/

https://www.usnews.com/news/best-sta...cation/prek-12

https://www.usnews.com/news/best-sta...gs/health-care

Growth is simply a measure of change. Nothing more. As has been pointed out here before, Connecticut low growth in GDP has pretty much been tied to our low population growth. It makes sense that states with high population growth have high GDP growth. They need it to support the added population. Connecticut does not need it since we are already among the top for per capita GDP. I’d say that’s worthy of noting especially since some chose to ignore it. It’s certainly as important as growth rates you and BobNJ1960 like to boast about.

I am not sure where you get those GDP numbers from. According to the Federal Reserve, Connecticut’s GDP in 2010 was $234.7 trillion. In 2020, the latest full year available, it is $276.4 trillion. That’s a 17.8% increase or an average of about 1.78% per year. Not really far off from the 2% you want. I will also note that just about every state had a drop the last two years because of the pandemic. It’s not just our state. Jay

https://fred.stlouisfed.org/series/CTNGSP




.

[kidyankee764]

Originally Posted by JayCT

Are you saying Connecticut does not have a high quality of life? According to this analysis Connecticut is No. 4. That means we are already there. No reason to change that. We are also at or near the top for education and health. That pretty impressive whether you want to admit it or not.

https://247wallst.com/special-report...-livability/2/

https://www.usnews.com/news/best-sta...cation/prek-12

https://www.usnews.com/news/best-sta...gs/health-care

Growth is simply a measure of change. Nothing more. As has been pointed out here before, Connecticut low growth in GDP has pretty much been tied to our low population growth. It makes sense that states with high population growth have high GDP growth. They need it to support the added population. Connecticut does not need it since we are already among the top for per capita GDP. I’d say that’s worthy of noting especially since some chose to ignore it. It’s certainly as important as growth rates you and BobNJ1960 like to boast about.

I am not sure where you get those GDP numbers from. According to the Federal Reserve, Connecticut’s GDP in 2010 was $234.7 trillion. In 2020, the latest full year available, it is $276.4 trillion. That’s a 17.8% increase or an average of about 1.78% per year. Not really far off from the 2% you want. I will also note that just about every state had a drop the last two years because of the pandemic. It’s not just our state. Jay

https://fred.stlouisfed.org/series/CTNGSP

.

I posted the link of where I obtained my GDP numbers above.

No source has CT showing a 17.8% increase with inflation. Your numbers do not accurately reflect the true growth of the state’s economy, just dollar value. That is why the GDP must be divided by the inflation rate to get the growth of the real GDP.

A high quality of life is subjective, but one good measure is Human Development Index. It’s important to look at county HDI or metro HDI as opposed to state HDI for larger states, but for smaller states, a state vs state ranking is fairly accurate. Do note that last year, Connecticut lost it’s top HDI spot to Massachusetts. It’s not a coincidence that MA had nearly 3x the GDP growth rate that CT had. Expect the same to happen with GDP actual rankings of CT continues this trend of low GDP growth.

As for every state having a drop last year, that’s correct, but 43 of 50 states did not have drops over a 10 year period (COVID can be considered an anomaly). Connecticut was one of the 7 that did.

[BobNJ1960]

Originally Posted by masssachoicetts

I agree with this. Most is just sprawl. I really thought NJ would be like a MA in build out. I was very wrong.

Although, I think CTs buildout is very nice and closer to MA than a overcrowded and sprawled NJ/LI layout.

Massachusetts has been the shining star of the Northeast the last 2 decades.

[BobNJ1960]

Originally Posted by kidyankee764

Exactly. People here love to scream about the current rankings, but when you look at CT ranking nearly dead last in both income growth and GDP growth lately, it’s very concerning. When other states are growing at much higher rates for both, coupled with CT’s near stagnancy, it’s hard to say with a straight face it’s not going to eventually affect where CT falls on the list.

Who cares about growth, they ask? Well, anyone who enjoys a high quality of life should care. The benefit of economic growth is higher living standards – greater incomes and the ability to devote more resources to areas like health care and education.

According to most studies, a healthy GDP growth rate is at least 2%. The 10 year growth in GDP for CT was -2.8%. The change from 2020 to 2021 was -4.1%. For comparison purposes, states mentioned above had amazing GDP growth rates (California at 32% in the last decade, and FL at 22% in the last decade).

https://www.forbes.com/sites/andrewd...h=6be63a1f846c

We cant essentially suggest economic and GDP growth is unnecessary when also boasting about the current high GDP ranking. If these numbers mean anything, it won’t be high for long.

Bingo. The same folks poo pooing lack of growth would hardly settle for pay rates dropping 2.8% annually, as Ct's GDP did the last decade.

[masssachoicetts]

Originally Posted by BobNJ1960

Massachusetts has been the shining star of the Northeast the last 2 decades.

We know this. But why. How can we translate this to CT? Im good friends with the town planners around Hartford and a few have said the stick isnt there because UConn and local universities do not do a good job in streamline students to positions in CT. Public or private. The data is there to back it up as well. Unfortunate, because the need is there. One used the metaphor, we are begging for bodies, but they keep shipping up to Boston or New York. And the pay is there. If I lived in CT full time, i would be making atleast 25% more than here in NJ.