economy

Chion Wolf / WNPR

In June, General Electric confirmed it’s considering a move out of Connecticut. The news came amid a state budget battle over corporate tax hikes. 

Harriet Jones / WNPR

Connecticut’s tourism industry is seeing a healthy rebound this year, more than doubling national growth rates. 

Hiring an employee is an expensive proposition. Workers' compensation, social security and other expenses can run thousands of dollars a year, so it's no surprise that companies often try to reduce expenses keeping workers off the payroll, calling them independent contractors instead.

But sometimes they do so in violation of state law. And in a new report, State Auditor Doug Hoffer says the state isn't doing enough to stop a practice known as "misclassification."

Even as state and federal officials direct new money and staffing to water quality efforts across the state, the networks of pipes that bring water to and from Vermont homes and businesses are crumbling beneath their feet.

More than 150 years after the end of the Civil War, secession was on the minds of protesters in New York this weekend. Hundreds turned out for a rally in Bainbridge in Chenango County. Many live within miles of the Pennsylvania border and believe secession could have a large economic impact on their communities.


Construction to upgrade one of Connecticut’s most important freight rail lines can begin, after the state received an $8 million federal grant. The funding arrives as the issue of how we move goods around the state is coming front and center. 

Unemployment Down, But Dream Jobs Still Out Of Reach

Aug 31, 2015

 

 

 

 

 

 

 

 

 

 

 

 

In New York and Connecticut, unemployment is at 5.4 percent, the lowest it has been in seven years. Nationwide, unemployment has dropped its lowest levels since the recession, giving those entering the workforce more opportunity. But for many, that elusive dream job is still out of reach. 

Schooner Delivers Maine Produce To Boston Harbor The Old-Fashioned Way

Aug 31, 2015

A 90-year-old schooner with North Shore origins is headed back home, laden with three tons of Maine-grown farm produce.

The Adventure, as she’s called, set sail from Portland, Maine, at first light Friday morning.

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According to an annual report from the National Low Income Housing Coalition, Connecticut is home to the eighth-priciest rental market in the nation.

The average amount needed to afford a two-bedroom apartment is now a staggering $24.29 per hour. For a person making minimum wage, that means working 106 hours each week. 

Chuck Miller / Creative Commons

Is General Electric really looking to leave the state? What’s Connecticut doing to try to keep them? That’s one of the stories we’re talking about on The Wheelhouse, our weekly news roundtable. Also, there's another round of musical chairs in state government and Governor Dan Malloy brings his support of Hillary Clinton to the Granite State.

Stocks opened Monday with a swan dive: The Dow Jones industrial average plunged about 1,000 points, or 5 percent, in just minutes.

By midday, enough brave buyers had waded back in to push up prices — up to where losses were only around 1 percent or so.

But that didn't last. Around 3 p.m., the Dow dropped again, sliding nearly 700 points.

Stress-filled minutes ticked down until 4 p.m.: CLANG, CLANG, CLANG.

The closing bell rang. Brows were wiped, and commentators scrambled to explain why investors had seen both panic selling and panic buying.

Led by an 8.5 percent drop in China's Shanghai composite index, U.S. and global stock markets took a dive Monday. Shortly after opening, the Dow Jones index fell by more than 1,000 points, or 5 percent. The Dow then zigzagged to close at 15,871, losing about 3.6 percent of its value.

Updated at 2 p.m. ET

Greek Prime Minister Alexis Tsipras has announced that he will step down, paving the way for early elections following a bruising battle over austerity measures linked to a European bailout package that caused a major split in the leftist ruling party.

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Connecticut manufacturers are closely watching events in China as the country allows its currency to devalue. Government control of the yuan has for years been a point of contention for companies, who said it gives Chinese manufacturers an unfair advantage in export markets.

Steven Depolo / Creative Commons

Connecticut’s annual sales tax-free shopping week begins on Sunday, but some shoppers might need to plan their purchases carefully to qualify. Only clothing and footwear items under $100 are eligible for tax-free purchase this year; in previous years, items could be up to $300.

It's a Left-Handed Show

Aug 13, 2015
Andreas Levers / Creative Commons

Lefties have been scorned as evil, and celebrated as superior. But, like so many things in life, being a southpaw is not so easily defined. 

Governor Gina Raimondo has asked the Brookings Institution’s Metropolitan Policy Program to develop a new economic strategy for Rhode Island.

The Institution is a nonprofit, nonpartisan think tank known for its foreign policy and economic analysis. It's the latest group of outside scholars and consultants to be brought in to assist Raimondo's administration in developing new strategies and plans.

Sherman Geronimo-Tan / Creative Commons

Is scientific progress suffering from a lack of creativity?

This hour, we talk to the author of The Creativity Crisis: Reinventing Science to Unleash Possibility to find out how increasingly cautious funding decisions are impacting scientific innovation and discovery. 

Connecticut Craft Beer: A New Industry is Brewing

Aug 7, 2015
Chion Wolf

To say Connecticut is known for its world class craft beers is not accurate-- at least not yet. But a bold band of merry (and quite innovative) beer brewers from cities all around are on a mission to change that, one small batch at a time. With nearly 40 in-state breweries currently in operation-- a ten fold increase from the number we had only six years ago -- the Connecticut craft beer industry is booming.

Updated at 9:50 a.m. ET

The U.S. economy added 215,000 jobs last month, just shy of the number forecast by economists. The unemployment rate remained unchanged at 5.3 percent.

Wages were up slightly, and the number of long-term unemployed remained the same as June.

CIGNA Inc. / Wikipedia

The CEO of Cigna said he believes it will take a year to 18 months for regulators to review his company’s proposed merger with Anthem. 

Wikimedia Commons

On a recent visit to Kenya, President Obama proposed changes to U.S. laws governing the sale of ivory. 

The measure is largely in response to a poaching crisis that's pushing elephants, rhinos, and other species to the brink of extinction.

Connecticut was once a hub for the global ivory trade, so musicians and museums are wondering what the future holds for their ivory-containing instruments, art, and antiques.

Edwin and Kelly Tofslie / Creative Commons

AARP calls it “Valuing the Invaluable”: a new report totes up the unpaid care given by loved ones to family members with chronic, disabling, or serious health problems. 

Marriage in Our Modern World

Jul 28, 2015
Pete / Creative Commons

Across the United States, partners still hold the institution of marriage dear. Yet as time moves on, there are significant changes in the way Americans approach marriage. Many years ago, the idea of marrying for love was ludicrous. Now, the love match is the heart of a modern marriage.

UTC

The executive in charge of United Technologies Corp's building systems business, Geraud Darnis, is leaving the company in the latest management change under new CEO Greg Hayes. 

KentWeakley/iStock / Thinkstock

The average worker in Connecticut cannot afford rent on a two-bedroom apartment, according to a new study by the National Low Income Housing Coalition. A renter must earn $24.29 an hour to afford a two-bedroom in Connecticut according to the NLIHC’s Out of Reach report.

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The Connecticut economy gained 600 jobs last month,  according  to a new analysis from the state Labor Department. Unemployment fell to its lowest level since July of 2008 : 5.7 percent.

Jorge Gonzalez / Creative Commons

 

As Europeans work towards a resolution of the Greek debt crisis, another economic crisis in Puerto Rico is contributing to a huge out-migration of residents from the island. 

Mixabest / Creative Commons

A new federal designation is expected to help the state of Connecticut access more than $1 billion in federal funding for economic development and to boost manufacturing.

The state is one of twelve applicants to receive the designation by President Barack Obama's administration under the Investing in Manufacturing Committee Partnership Initiative. It's a federal program designed to strengthen manufacturing across the country and support states with long-term economic development strategies.

Greek Prime Minister Alexis Tsipras was trying to sell a bailout proposal at home on Friday while creditors reviewed the text abroad.

According to The Guardian, Tsipras called a meeting with his ruling coalition in Athens.

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