[mdovell]

Originally Posted by Lincolnian

I've been looking for details on how it reduces the cost structure? The headlines state the raises and bonuses but we need more details on the savings. The highly-publicized mass retirement exodus on June 30, 2022 was touted as a way to utilize these retirements to right-size the labor force, further consolidate duplicitous roles, and bring younger people in at lower costs. Does this new deal substantially change these goals?

Depends. If someone really wants to retire they will retire. The stock market and housing markets have boomed for years. Yes gas is up but you add in covid and telecommuting and it adds up.

CT has a huge brain drain as retirement years are only taken as half. Let's say your want a mid career professional that is mid to late 50s. OK fine but they've worked professionally for 25 years. Ct will only take half. It's even worse for part time work. Consider the following.

If you hire from the private sector theyll pay into a system they won't qualify for. Pensions are more than social security
Those from other states are not going to receive the same years so they are less likely to go.
Can't really Make a job part time
The general population isn't growing
There's no ESOP or stock matching in public work

OK so promote from within. OK but that means filling those openings as well. Maybe they could bid out and/or outsource the work. They have to consider accepting years at more than half.

[BobNJ1960]

Interesting article, gives perspective on our job count vs pre covid count, even includes a nice paragraph questioning quality of 2021 job gains.


https://www.ctpost.com/business/arti...t-16994980.php

[JayCT]

Originally Posted by BobNJ1960

Interesting article, gives perspective on our job count vs pre covid count, even includes a nice paragraph questioning quality of 2021 job gains.


https://www.ctpost.com/business/arti...t-16994980.php

“[Connecticut] gained low-skill, low-wage jobs in tourism, hospitality, logistics and elder care, all of which pay — if working full time — less than $40,000 annually.”

Typical media negativity. Of course those are the ones that gained the most. Those are the jobs that lagged coming back.

It’s highly suspicious that they didn’t try to reconcile why we still have a high unemployment rate but also have a labor shortage. You really can’t have both. I still say that a LOT of people here have left the workforce and the numbers aren’t reflecting that. Jay

[BobNJ1960]

Originally Posted by JayCT

“[Connecticut] gained low-skill, low-wage jobs in tourism, hospitality, logistics and elder care, all of which pay — if working full time — less than $40,000 annually.”

Typical media negativity.

It is true, as we added several Amazon plus other DCs. That is what DCs pay. Usually top out at $17-$18/hour. Grueling work. Glad I never did it.

Tourism and hospitality also tend to pay below average.

Tourism and hospitality simply are grabbing back a fraction of their massive 2020 losses.

Online is crushing retail, another low wage sector. DCs never lagged. They are adding jobs, btw. That is why our malls will become apartment complexes with a minority of square footage for retail, as time goes on. Be it KMart Milford, Trumbull, or, when Milford PZB wakes up, the Connecticut Post.

[CTartist]

Originally Posted by BobNJ1960

Online is crushing retail, another low wage sector. DCs never lagged. They are adding jobs, btw. That is why our malls will become apartment complexes with a minority of square footage for retail, as time goes on. Be it KMart Milford, Trumbull, or, when Milford PZB wakes up, the Connecticut Post.

In Trumbull we already rezoned our entire mall area to accommodate apartments and the rest can be mixed-use (apartments on top of commercial business). We know in Trumbull our mall area will be more like a little walkable city and drastically different. The foundations on the apartments are already being worked on.

[MrGompers]

Originally Posted by mdovell

CT has a huge brain drain as retirement years are only taken as half. Let's say your want a mid career professional that is mid to late 50s. OK fine but they've worked professionally for 25 years. Ct will only take half. It's even worse for part time work. Consider the following.

If you hire from the private sector theyll pay into a system they won't qualify for. Pensions are more than social security

I don;t know what you are referring to as "CT will only take half"


FYI, in order to qualify for a CT pension a person has to work a minimum of 10 years. Also, the minimum monthly guaranteed pension payment (min 10 years) is $360 as long as they were a full time employee.


This has nothing to due with social security. However, considering that 10 years is the minimum for a pension it probably makes sense for people who are aged 57 or less to go into CT Govt employment if they want a pension.

[JayCT]

I think this is a no brainer. Why should people have to fix the states mistake. It would probably cost more than they’d collect. Jay

https://ctmirror.org/2022/03/18/ct-l...-overpayments/

[JayCT]

Is Connecticut now holding on to too much cash? With our state coffers overflowing these days, the question is should we be spending more? Interesting question but I got to say we need to pay off our debts before we consider spending more. JMHO Jay

https://ctmirror.org/2022/03/20/is-c...eid=b6b77ee838

[Lincolnian]

Originally Posted by JayCT

It’s highly suspicious that they didn’t try to reconcile why we still have a high unemployment rate but also have a labor shortage. You really can’t have both. I still say that a LOT of people here have left the workforce and the numbers aren’t reflecting that. Jay

Here's an interesting twist. Some former CT people are now working remotely for their CT employer and living in another state. Their CT job is filled. However, the job their spouse did is vacant and they are no longer available for employment in CT since they no longer live here. The spouse may now be physically working in the new state where they now reside and are counted in their employment numbers.

[BobNJ1960]

Originally Posted by JayCT

It’s highly suspicious that they didn’t try to reconcile why we still have a high unemployment rate but also have a labor shortage. You really can’t have both. I still say that a LOT of people here have left the workforce and the numbers aren’t reflecting that. Jay

IMO, until at least 2024, unemployment stats will mainly be rubbish. The BLS one is just a small survey, which requires revisions the next 2 months. In a stable economy, that got by, but I know many who left ,re-entered, left economy again the last 2 years. That is why I think we will need at least 2 full years post pandemic to get reliable stats again, and we are not close to post pandemic yet.

The ADP unemployment report I have more faith in, as it is data aggregated from their records of paychecks handled vs same periods, prior years, and they have a giant market share of US paychecks.