[JayCT]

Originally Posted by beerbeer

The Courant supports this post. A shrinking work force is not a sign of GDP growth.

https://www.courant.com/business/hc-...wsm-story.html

But our GDP has grown as the links I posted show. The Federal Reserve Report history shows it; the per capita GDP still has us in the top five (No. 3); and the per capita Real GDP from the BEA shows increases for the past couple of years. Check the links below. Jay

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

https://www.investopedia.com/article...gdp-capita.asp

https://en.wikipedia.org/wiki/List_o...GDP_per_capita

[Lincolnian]

Originally Posted by kidyankee764

If you back up and share my previous post to that, you’ll see I posted the source that says it’s closer to 12%. That wasn’t an opinion of mine. I happen to think it’s actually somewhere in between, but it all depends on the methodology you decide to use.

And it’s true that it’s questionable for other states, as well, but this is the CT forum and a CT thread. I’m not sure what it has to do with other states.

It's a moot point. All the states rank unemployment numbers the same way. Perhaps there are some difference with states like CT that have an older median age where people, like myself, are not truly reflected in the numbers because they are not collecting unemployment and have settled in to an earlier retirement than planned. They may be applying for jobs but are not interested in the jobs where much of the hiring is taking place. I know a few people over 50 who looked for two years before either finding an acceptable position or accepting retirement. I know we had discussed older workers in CT having better opportunities elsewhere before but I do not believe that has been a major factor for most people. At best, it may have led to people to follow their desired retirement plan to relocate earlier rather than later. If someone is a few years from retirement I highly doubt most are interested in moving somewhere they ultimately don't want to be for a few years at that stage in their life only to have to move again.

The state's pension and healthcare obligations are the driving factor on our tax structure. That is where the challenge and the solution ultimately rest. That is also where all our elected officials, businesses, and unions should be focusing their energy.

[kidyankee764]

Originally Posted by JayCT

Below are your three previous posts to that one. They date back to the 24th. There is no link to anything to support what you say. Jay

Keep going...

Originally Posted by kidyankee764

I see you, exhaustingly, bringing up unemployment rate in defense of CT’s we’ll being, so I’ll just leave this here:

https://smartasset.com/career/proble...mployment-rate

“The unemployment rate isn’t an accurate measure of joblessness simply because it doesn’t consider everyone who doesn’t have a job. That’s why many economic experts instead focus on what’s known as the real unemployment rate.

The real unemployment rate (technically called the U-6 measure) is reported on a monthly basis in the jobs report along with the official unemployment rate and four other measures of unemployment. Unlike the official unemployment rate, however, it takes underemployed and marginally attached workers (including discouraged workers) into consideration as well as unemployed people.“

Further...

“The U6, the most conservative of the six measures, counts everyone who wants work and doesn't have it. And it paints a starkly different picture of the state and national economies than the traditionally reported unemployment rate.

According to data from Fitch Ratings, while the official unemployment rate for Connecticut in 2014 stood at 6.6 percent, down significantly from its 2010 high, the U6 rate was 12.6 percent, also down from its midrecession peak but reflecting a much more dire employment situation than the widely used numbers.”

[Heel82]

Originally Posted by JayCT

But our GDP has grown as the links I posted show. The Federal Reserve Report history shows it; the per capita GDP still has us in the top five (No. 3); and the per capita Real GDP from the BEA shows increases for the past couple of years. Check the links below. Jay

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

https://www.investopedia.com/article...gdp-capita.asp

https://en.wikipedia.org/wiki/List_o...GDP_per_capita

Your first link is misleading as it isn’t the real gdp, but nominal. Here’s the other chart, where basically Connecticut’s GDP in 2018 is roughly where it was in 2005.

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

[CTartist]

Originally Posted by JayCT

You are confusing growth with actual GDP. Look at this ranking history of Real GDP that was posted here from the US Bureau of Economic Analysis. We are rank third in Real GDP and have been climbing for the past couple years. We had dropped a couple of years back but so did other states. It was a national trend that pushed energy producing states higher and more traditional states lower in rankings. This is a blip in the rankings that has since corrected itself. Also look at the US Federal Reserve chart on our GDP. It continues to go up consistently. Again it is not concerning as some here make it out to be. Jay

https://en.wikipedia.org/wiki/List_o...GDP_per_capita

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

I am sorry....I forgot to write PER CAPITA in that post. And to me Per Capita really tells the story. So I have been using the Per Capita to show how good/high our income is in CT. I can't discount per capita information that shows our state appears to be going in the wrong direction.

So I have to say that that information in the link below is pretty important to me being it is Per Capita.

https://ssti.org/blog/useful-stats-c...tate-2008-2017

New Hampshire and Massachusetts were always in the top 10 for GDP PER CAPITA with CT (if I remember correctly) and they have grown.

10 year change in PER CAPITA GDP
NY +11
NH +10
MA +10
VT +7 (even Bernie-land is on the plus side)
ME +3
CT -9

Everyone on this board knows I am a big cheerleader for our state but this concerns me.

[JayCT]

Originally Posted by Heel82

Your first link is misleading as it isn’t the real gdp, but nominal. Here’s the other chart, where basically Connecticut’s GDP in 2018 is roughly where it was in 2005.

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

But again we are ranked No. 3 in Real GDP per capita. You can’t say that is not good. If we were not so high, there would be cause for concern. Jay

[CTartist]

Originally Posted by JayCT

But again we are ranked No. 3 in Real GDP per capita. You can’t say that is not good. If we were not so high, there would be cause for concern. Jay

Being #3 is great but in years past I am pretty sure I have put up links that showed we were #1. I have to go through some of my old posts to see the link that shows we used to be #1 in GDP per capita.

For me personally to see us go from #1 to #3 GDP per capita in a few short years is concerning.

[CTartist]

2018 GDP Per Capita Real Dollars CURRENT (scroll down for current)
https://en.wikipedia.org/wiki/List_o...capita#Current

1 New York...............85,746
2 Massachusetts........82,480
3 Delaware...............77,253
4 Connecticut............76,342

I am pretty sure CT was always higher than MA. I am wondering if this turn of economic events is because of all the top management of GE moving to Boston that reversed MA and CT.

I look up this info every year to quash the CT naysayers, but this year boy did I get a surprise.

[Heel82]

Originally Posted by JayCT

But again we are ranked No. 3 in Real GDP per capita. You can’t say that is not good. If we were not so high, there would be cause for concern. Jay

Economic reality comes for all. They’ll make a pauper out of a prince if he doesn’t watch out.

[Stylo]

Originally Posted by CTartist

I am pretty sure CT was always higher than MA. I am wondering if this turn of economic events is because of all the top management of GE moving to Boston that reversed MA and CT.

That's way too few people to move it that much.