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Labor Market Information - State of Connecticut Economic Indicators Scorecards
  Economic Indicator Scorecards - State of Connecticut Last Updated: January 26, 2015
Taken together, these groups of economic indicators present an overall picture of the current conditions in the Connecticut labor market, business climate, consumer sector and the current/future overall. You can find charts, trends, year-to-year changes and data for twenty-four econcomic indicators from 2001 to current.
 Workforce Sector Economic Scorecard   2001 • 2002 • 2003 • 2004 • 2005 • 2006 • 2007 • 2008 • 2009 • 2010 • 2011 • 2012 • 2013 • 2014 • Workforce Trends • Historical Totals
This group of six economic indicators presents an overall picture of the current conditions in the Connecticut labor market. Current levels and the change from the previous period, as well as the year-to-year changes in the number of nonfarm employment jobs (#1), residents employed (#2) and residents unemployed (#5), the unemployment rate (#4), the size of the labor force (#3), and the average weekly initial claims (#6) the number of those filing initial (new and additional) claims for unemployment insurance. For charts, trends and data for the six workforce economic indicators and historical totals follow the links above.
 Consumer Sector Economic Scorecard   2001 • 2002 • 2003 • 2004 • 2005 • 2006 • 2007 • 2008 • 2009 • 2010 • 2011 • 2012 • 2013 • 2014 • Consumer Trends • Historical Totals
Critical to the health of the National and State economies is the ability of consumers to buy the goods and services being offered for sale by businesses. In turn, consumer demand is predicated on the willingness and ability of buyers to make purchases. Signals on consumers’ ability to buy are usually found in the levels, changes from the previous period, and year-to-year changes, of personal income (#1), wages and salaries(#2), and in the prime rate(#4) and conventional mortgage rates(#5). Their willingness is reflected in their actual behavior. That is, are they actually making purchases? The most timely indicator that sends a signal about actual consumer behavior, at the state level, is sales-tax revenue(#3) activity. For charts, trends and data for the five consumer economic indicators and historical totals follow the links above.
 Business Sector Economic Scorecard   2001 • 2002 • 2003 • 2004 • 2005 • 2006 • 2007 • 2008 • 2009 • 2010 • 2011 • 2012 • 2013 • 2014 • Business Trends • Historical Totals
The health of the business sector will affect, among other things, the ability of firms to hire workers and, particularly in regard to businesses selling their goods and services outside the State, the ability to increase the State’s income through exports. There are several indicators that provide a picture of the business sector's vital signs. The levels, changes from the previous period and year-to-year changes of Housing Permits give not only a reading of the State’s construction sector, but also of the financial sector, particularly in terms of mortgage-lending activity, and ultimately, consumer spending on durable goods and services related to the purchase of a new house. Air Cargo Tons and the value of Connecticut Exports (collected quarterly before 2004) gauges the ability of Connecticut businesses to compete in the world market. The Connecticut Manufacturing Production Index (CMPI) and Average Manufacturing Weekly Hours (AMWH) provide a measure of the State’s manufacturing activity, while the strength of the entertainment and tourism sectors is reflected in the Gaming Slots Revenues, Major Attraction Visitors, and Air Passenger Count.
 Current/Future Overall Economic Scorecard Current • 2001 • 2002 • 2003 • 2004 • 2005 • 2006 • 2007 • 2008 • 2009 • 2010 • 2011 • 2012 • 2013 • 2014 • Overall Trends
A group of indicators known as Business or Economic Indicators are composites constructed by combining several different time-series to produce a single number that provides an indication of the overall, broad activity in the economy. Two major groups of business, or economic, indicators are available: a group that measures the current state of the economy, and a group that indicates where the economy may be going in the near future. The current-conditions group of indicators includes the Employment-Coincident Index(#1) (ECI), the General Drift Indicator-Coincident(#2) (GDI-C), and the Farmington Bank Business Barometer(#3) (FBBB). In addition, there are two composite indicators that signal the near-future direction of the economy: Employment-Leading Index(#4) (ELI) and the General Drift Indicator-Leading(#5) (GDI-L). For charts, trends and data for the five overall economic indicators and historical totals follow the links above.
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