Bohan and Bradstreet

June 2013

Connecticut Adds Jobs in May, Unemployment Rate Flat

Monday, June 24, 2013  by Ed Bradstreet

Connecticut added 1,000 jobs in May, the third consecutive month of growth. However, the state's unemployment rate remained unchanged at a stubborn 8%. The state posted job gains in four of the first five months of the year, with blizzard-impacted February shedding 5,700 positions. That's the best five-month start to any year since 2010, when the state's on-again-off-again recovery from recession began.  In the 39 months since the recession ended, Connecticut has recovered just 58,600 jobs, or less than half the total lost during the economic downturn.

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Manufacturing Sector - Job Multiplier

Wednesday, June 12, 2013  by Ed Bradstreet

The manufacturing sector accounts for 80+% of exports (United States) and 90% of patents according to the U.S. International Trade Commission and the Department of Commerce.  Every new manufacturing job creates an additional 4.6 jobs to support it.  For high-tech manufacturing jobs, the multiplier effect rises to 16 additional jobs.  300,000+ small and medium-size manufacturers based in the U.S. account for 50+% of the U.S. total manufacturing employment.   The trend of offshoring and/or outsourcing manufacturing outside of the U.S. has shifted in the last 12+ months since labor cost savings overseas are being offset by energy costs (plentiful and cheap in the U.S.),  and material and transportation costs (rising overseas).  This bodes well for the U.S., where our workforce is huge. 






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