Economic Outlook

FAIRFIELD – Unemployment rates in Connecticut have risen above the US average and Connecticut job growth has underperformed the country as a whole, according to Edward J. Deak, PhD, the New England Economic Project (NEEP) Connecticut model manager and Roger M. Lynch Professor of Economics at Fairfield University.

Dr Deak has released his latest biannual report of the NEEP’s forecast for Connecticut. One of the most jarring facts is that in the past year, Connecticut unemployment has climbed from 4.8 percent in August 2004 to 5.4 percent in August 2005, 0.5 percent higher than the national rate. The last time the Connecticut rate was higher than the national rate was 1997.

Waterbury region had the highest unemployment rate at 6.6 percent, followed by Williamatic-Danielson at 5 percent, Hartford and New Haven tied at 5.5 percent, and Bridgeport-Stamford at 5 percent.