I think Dannel Malloy just put the final nail in the coffin containing his 3rd term dreams. So, not only is Connecticut dead last in basically everything, but things somehow managed to get even worse. Recession worse. Because our latest jobs report is practically DOA.
CT News Junkie reports that the state managed to LOSE jobs last year. Wait, how? What? What happened to those 5,000+ jobs the state added per month? Where’s the report claiming we added 12,000 jobs last year?
Oh, that was all smoke and mirrors? That’s nice.
Turns out the state “overestimated” job gains by 5,425. Per month. Pretty brazen, am I right?
So, the official word is that the state lost 200 jobs last year. Wait, only 200? That doesn’t sound too bad, right?
Well, I have some bad news for you if you were part of the minority who searched for a silver lining. I also have swampland in Louisiana to sell you…
Unfortunately, the news is actually quite terrible.
Let’s play the comparison game by looking at our neighbor and fellow Democratic utopian rival, Massachusetts. They added 56,000 jobs and grew their economy by 1.6 percent last year. New Hampshire also saw their economy jump by 1.8 percent.
Are your eyes opened? Is your head out of the sand? Because this is completely embarrassing that our government lied through its teeth about job gains for an entire year.
So, not only did Connecticut manage to lose tens of thousands of jobs, our economy has been preset into the beginnings of a recession. That alone should be a wake-up call to our politicians that something has to change.
Nope. Instead, our government is downplaying the dreary news. Actually, they say they are “encouraged.”
The Labor Department is already singing that the state added 5,7000 jobs last month. Meanwhile, Governor Malloy swears the state reclaimed 80,000 jobs since the Great Recession.
Yeah, who wants to bet the majority of those positions are part-time or woefully underpaid?
Anyways, Don Klepper-Smith, an economist with DataCore Partners, does not share the Governor’s optimism. He says Connecticut has ways to go before making a full job recovery, which won’t happen until at least 2019.
But, he said we’re in for a rude awakening first:
“Odds are we’ll see a full-blown domestic recession before then, which implies that the job high of 1,713,300 set in March 2008 isn’t likely to be reached anytime soon.”
Klepper-Smith also added that our markets are “clearly under-performing” because the state has seen growth of about 1.2 percent over the last 30 years.
Now, Republicans are using the news as ammo to argue against Connecticut’s one party rule. Also, in addition to the majority of Connecticut, they’re bitterly angry.
Senate Republican President Len Fasano called the latest news “pathetic:”
“For the past six years, under one-party Democratic rule, record tax hikes and job-killing policies have only fostered unpredictability and instability. […] We’re literally going backwards now.”
So, what’s your take? Has this news made Governor Malloy un-electable? Or, will he still run for a third term despite this?
Moreso, do you think we can come back from this? If so, how?