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- W1532791569 abstract "What’s Normal? If the last five business cycles are any guide, Connecticut gets the flu when the U.S. catches a cold. Recessions typically last about 11 months for the nation as a whole but drag on 4 months longer in Connecticut. Perhaps the best, and certainly the most timely, measure of overall economic activity is employment. Peak to trough, employment usually drops by 2.4% in Connecticut recessions, versus only 1.2% nationally. Until the 1990s, Connecticut took about as long as the U.S. to fully recover the jobs lost during a recession—upwards of 13 months from when the economy finally bottoms out. But the slow recovery from its Great Recession early last decade pushed up the state’s average recuperation time to 22 months (see chart). Because the present recession began in the first half of last year, history would tell us that Connecticut is about midway through the slump and should expect a turnaround to begin by 2002Q3. But a full recovery takes time, so even with an early start, the economy could still be shaking off the effects of the downturn into the last half of 2003 or even the first half of 2004." @default.
- W1532791569 created "2016-06-24" @default.
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- W1532791569 date "2002-01-01" @default.
- W1532791569 modified "2023-09-26" @default.
- W1532791569 title "In Connecticut’s Service Economy Recession, the Commodity Sector Have Got the Goods" @default.
- W1532791569 hasPublicationYear "2002" @default.
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