From Connecticut’s WNPR: “A top Federal Reserve economist has told an audience in Hartford that while he foresees continued growth in the economy, jobs will continue to lag behind the overall recovery. Eric Rosengren, the President of the Federal Reserve Bank of Boston, says he believes there are still significant headwinds facing the economy, including low levels of lending by the banks, cautious spending by consumers, and above all, the continued sluggishness in the labor market.” To hear the full story from WNPR’s Harriet Jones click here.
Posts Tagged ‘Economy’
WNPR: Top Economist Predicts a Lag in Job Growth
Tuesday, January 12th, 2010JNEN Member, Richard Laurenzi, on Hartford’s WFSB-TV
Friday, December 11th, 2009Richard Laurenzi of Prospect Machine Products, Inc. (a JNEN member) discusses how federal stimulus dollars have assisted his company through these difficult economic times on Hartford’s WFSB’s Channel 3. Click on the photo to see the story!
JNEN Member, Richard Laurenzi, on Hartford's WFSB-TV
Friday, December 11th, 2009Richard Laurenzi of Prospect Machine Products, Inc. (a JNEN member) discusses how federal stimulus dollars have assisted his company through these difficult economic times on Hartford’s WFSB’s Channel 3. Click on the photo to see the story!
New Haven Register: Dodd Details Jobs Creation Plan
Tuesday, December 8th, 2009From the New Haven Register: U.S. Sen. Christopher J. Dodd, D-Conn., flew into the state from Washington Monday to outline a job creation plan that focuses on clean energy, the manufacturing base and small businesses.
…“If people can’t find good-paying jobs in the private sector, our problems are going to grow,” Dodd said.
JNEN Supports Connecticut’s Bioscience Development
Wednesday, December 2nd, 2009For Immediate Release: December 2, 2009
Connecticut Life Science, Business, and Economic Development Experts Discuss Connecticut’s Bioscience Future
HARTFORD, CONNECTICUT – Today a group of national and Connecticut-based partners hosted the Connecticut Bioscience Business Roundtable (BBR) event at the University of Connecticut in West Hartford. Bioscience represents a major source of potential economic development and jobs for Connecticut. The event featured remarks from Governor M. Jodi Rell, Congressman Chris Murphy, and Lt. Governor Michael Fedele.
“In this difficult economic time, the bioscience community is creating jobs and saving lives and Connecticut is at the center of the action,” said Paul Pescatello, President and CEO of Connecticut United for Research (CURE). “Connecticut possesses a powerful cluster of biopharmaceutical companies and our acclaimed educational institutions and knowledgeable business community are working together to ensure economic success and jobs for Connecticut. The Bioscience Business Roundtable offered a great opportunity for the open exchange of ideas about safeguarding this important industry in Connecticut.”
Connecticut’s bioscience industry represents a significant source of economic development and career opportunities. The most recent data available demonstrates that the Connecticut biopharmaceutical sector supports more than $14 billion in total economic output, directly supporting nearly 11,000 direct jobs and over 40,000 jobs in other sectors. http://www.archstoneconsulting.com/biopharmapdf/connecticut.pdf
BBR is a unified voice of leaders representing the biotechnology, life sciences, and biomedical research industries — collectively known as the bioscience community. Its mission is to promote public policies that on a local, state and federal level safeguard and sustain America’s place as the world leader in bioscience. The three tenets of BBR are to promote access, prevention and encourage innovation. This is achieved by building bridges of understanding between government leaders, the business community and academia on key issues facing Connecticut and the United States’ dynamic bioscience community.
Partners hosting today’s event included: the Central Connecticut Chambers of Commerce, Connecticut Business & Industry Association, Connecticut Department of Economic & Community Development, Connecticut Development Authority, Connecticut Economic Development, Association, Connecticut Innovations, Connecticut State Missionary Baptist Convention, Connecticut Technology Council, Connecticut United for Research Excellence, Greater Danbury Chamber of Commerce, Greater New Haven Chamber of Commerce, Independent, Connecticut Petroleum Association, Jobs for New England Now, Metro Hartford Alliance, New England Venture Capital Association, St. Joseph College School of Pharmacy, Town of Groton Economic Development Commission, University of Connecticut Dept of Public Policy, Waterbury Regional Chamber of Commerce, Wesleyan University, the Biotechnology Industry Organization (BIO), the National Venture Capital Association (NVCA), the Pharmaceutical Research and Manufacturers of America (PhRMA), and the U.S. Chamber of Commerce.
For more information please visit www.Connecticutbbr.org.
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JNEN Supports Connecticut's Bioscience Development
Wednesday, December 2nd, 2009For Immediate Release: December 2, 2009
Connecticut Life Science, Business, and Economic Development Experts Discuss Connecticut’s Bioscience Future
HARTFORD, CONNECTICUT – Today a group of national and Connecticut-based partners hosted the Connecticut Bioscience Business Roundtable (BBR) event at the University of Connecticut in West Hartford. Bioscience represents a major source of potential economic development and jobs for Connecticut. The event featured remarks from Governor M. Jodi Rell, Congressman Chris Murphy, and Lt. Governor Michael Fedele.
“In this difficult economic time, the bioscience community is creating jobs and saving lives and Connecticut is at the center of the action,” said Paul Pescatello, President and CEO of Connecticut United for Research (CURE). “Connecticut possesses a powerful cluster of biopharmaceutical companies and our acclaimed educational institutions and knowledgeable business community are working together to ensure economic success and jobs for Connecticut. The Bioscience Business Roundtable offered a great opportunity for the open exchange of ideas about safeguarding this important industry in Connecticut.”
Connecticut’s bioscience industry represents a significant source of economic development and career opportunities. The most recent data available demonstrates that the Connecticut biopharmaceutical sector supports more than $14 billion in total economic output, directly supporting nearly 11,000 direct jobs and over 40,000 jobs in other sectors. http://www.archstoneconsulting.com/biopharmapdf/connecticut.pdf
BBR is a unified voice of leaders representing the biotechnology, life sciences, and biomedical research industries — collectively known as the bioscience community. Its mission is to promote public policies that on a local, state and federal level safeguard and sustain America’s place as the world leader in bioscience. The three tenets of BBR are to promote access, prevention and encourage innovation. This is achieved by building bridges of understanding between government leaders, the business community and academia on key issues facing Connecticut and the United States’ dynamic bioscience community.
Partners hosting today’s event included: the Central Connecticut Chambers of Commerce, Connecticut Business & Industry Association, Connecticut Department of Economic & Community Development, Connecticut Development Authority, Connecticut Economic Development, Association, Connecticut Innovations, Connecticut State Missionary Baptist Convention, Connecticut Technology Council, Connecticut United for Research Excellence, Greater Danbury Chamber of Commerce, Greater New Haven Chamber of Commerce, Independent, Connecticut Petroleum Association, Jobs for New England Now, Metro Hartford Alliance, New England Venture Capital Association, St. Joseph College School of Pharmacy, Town of Groton Economic Development Commission, University of Connecticut Dept of Public Policy, Waterbury Regional Chamber of Commerce, Wesleyan University, the Biotechnology Industry Organization (BIO), the National Venture Capital Association (NVCA), the Pharmaceutical Research and Manufacturers of America (PhRMA), and the U.S. Chamber of Commerce.
For more information please visit www.Connecticutbbr.org.
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Forecast: New England economy slow to rebound
Tuesday, November 10th, 2009From Today’s Boston Globe: BOSTON—The worst of the recession may be over, but a new economic forecast points to a “slow and weak recovery” in the New England states, with job losses likely to continue until fourth quarter of 2010.
The report, released Tuesday by the New England Economic Partnership, said the region had lost about 346,000 jobs since the beginning of 2008. That number is expected to top 400,000 before the end of the decline.
Recovery in sight, but RI lags behind nation
Wednesday, November 4th, 2009From today’s Providence Journal: The end of the “Great Recession” is in sight, but economic recovery in Rhode Island will lag behind its New England neighbors and the rest of the nation, according to Andres Carbacho-Burgos, an economist with Moody’s Economy.com.
“Rhode Island, like the rest of the United States, is emerging from the Great Recession,” he said to a collection of the state’s top budget officials Wednesday morning, describing the Ocean State’s economic problems as the “second-worst recession in Rhode Island History in terms of proportional job losses.” Only 1991 was worse.
Rhode Island’s rate of recovery, however, will be the slowest since the Great Depression, Carbacho-Burgos said, downgrading his projections of six months ago.
The news was not altogether unexpected, but suggests that state budget deficits — and pressure on lawmakers to cut programs and raise taxes — will continue to grow in the coming months.
Worcester T&G: Business expo opens: Economist Says Nation Faces Tough Recovery
Friday, October 30th, 2009From the Worcester Telegram and Gazette: WORCESTER — Economist and Bloomberg TV analyst Richard Yamarone said the nation is recovering from its economic downturn but remains constrained by a poor job market…
Mr. Yamarone told his audience this morning, members of the Worcester Regional Chamber of Commerce’s Breakfast Club, he expects a recovery that, if plotted on a chart, would resemble the mathematics symbol for a square root: a sharp drop, a sharp rise and then a prolonged flat line.
The economy “falls, it rises and it comes back just barely into positive territory, where it levels off for a period of time,” he said.
A significant problem for the economy, Mr. Yamarone said, is the continuing loss of jobs.
“The more realistic view is we’re not creating jobs,” he said. “We’re still hemorrhaging jobs at a rate of 250,000 jobs a month, and the bad thing is we’re still hemorrhaging jobs 21 months into the recession.”
Worcester T&G: Business expo opens: Economist Says Nation Faces Tough Recovery
Friday, October 30th, 2009From the Worcester Telegram and Gazette: WORCESTER — Economist and Bloomberg TV analyst Richard Yamarone said the nation is recovering from its economic downturn but remains constrained by a poor job market…
Mr. Yamarone told his audience this morning, members of the Worcester Regional Chamber of Commerce’s Breakfast Club, he expects a recovery that, if plotted on a chart, would resemble the mathematics symbol for a square root: a sharp drop, a sharp rise and then a prolonged flat line.
The economy “falls, it rises and it comes back just barely into positive territory, where it levels off for a period of time,” he said.
A significant problem for the economy, Mr. Yamarone said, is the continuing loss of jobs.
“The more realistic view is we’re not creating jobs,” he said. “We’re still hemorrhaging jobs at a rate of 250,000 jobs a month, and the bad thing is we’re still hemorrhaging jobs 21 months into the recession.”
