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Connecticut Economic Digest: August 2004 issue
A detailed look at Connecticut industry in 2003 | Housing Update

A detailed look at Connecticut industry in 2003
By Edward T. Doukas Jr., Research Analyst, DOL

Detailed industry data recently compiled from Unemployment Insurance (UI) program reports reflect, as expected, the general state of the economy last year. This source shows UI covered employment decreased by 22,676 during 2003, a decline of 1.4 percent, according to preliminary figures. This decrease marked the third consecutive decline in annual average employment after eight consecutive years of expansion. Total private industry employment, constituting 85.5 percent of the State's employment total, decreased 1.3 percent in 2003. Overall government employment (including Indian Tribal councils and related establishments) also declined in 2003, down 1.8 percent. State government employment dropped by 4,727, or 7.4 percent.

The annual average wage of all Connecticut workers increased by a modest 3.1 percent to $48,318 in 2003. The annual pay of private industry workers grew 3.2 percent in 2003 to $48,921, while pay for government sector employees was $44,751, an increase of 2.4 percent.

The total number of business establishments in Connecticut increased by 1.2 percent during 2003, totaling 109,142 at the end of the year compared to 107,881 at the end of 2002. Total private establishments numbered 105,502 in 2003 versus 104,222 in 2002. The number of government work sites dipped in 2003 to 3,640, compared to 3,659 at the end of 2002.

Sector employment and wages

Agriculture, forestry, fishing and hunting recorded the largest percentage increase in annual average private employment over 2002, up 6.1 percent. Educational services posted the second highest percentage gain, 2.6 percent; followed by arts, entertainment, and recreation; as well as accommodation and food services, both expanding 1.8 percent in 2003.

The manufacturing sector showed the largest percentage decline in employment, dropping 5.7 percent over the year; followed by information, down 3.6 percent; and professional and technical services, down 3.4 percent.

The highest average annual wage in 2003 was earned by employees in the management of companies and enterprises sector at $105,041. Next highest were finance and insurance, $104,248, and utilities, $80,024. On the opposite end of the scale, workers in the accommodation and food services sector earned average annual wage of $16,046.

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Housing Update
June permits highest since July 1998

Commissioner James F. Abromaitis of the Connecticut Department of Economic and Community Development (DECD) announced that Connecticut communities authorized 1,283 new housing units in June 2004, a 12.2 percent increase compared to June of 2003 when 1,143 units were authorized.

The Department further indicated that the 1,283 units permitted in June 2004 represent a 36.2 percent increase from the 942 units permitted in May 2004. The year-to-date permits are up 17.9 percent, from 4,598 through June 2003, to 5,423 through June 2004.

The Bridgeport Labor Market Area showed the largest increase in terms of units (134) and percentage growth (181.1) compared to a year ago. Milford led all municipalities with 138 units, followed by Groton with 111, and Danbury with 47. From a county perspective, June permits for New Haven and New London counties were more than double last year's totals.

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Published by the Connecticut Department of Labor, Office of Research
Last Updated: August 4, 2004