• Connecticut: What’s the Status of Our State?

---

“Connecticut simply cannot maintain the status quo. If the state continues to travel along the trajectory established by current Governor Dannel Malloy, it runs the real risk of becoming one of the least-desirable places in the nation, for businesses and residents alike….” Please visit this link to read the full article: Forbes

---

“Connecticut's taxes, strangling regulations, restrictive laws and the cost of living are responsible for driving residents out of the state, at least according to letter writers to The Courant in recent weeks. Not so fast, say others, you get what you pay for, including a high quality of life, good government services, highly educated residents and one of the nation's top performing school systems….” Please visit this link to read the full article: The Courant

---

• U.S. Real GDP – Q2 2014

---

Real gross domestic product -- the output of goods and services produced by labor and property located in the United States -- increased at an annual rate of 4.2 percent in the second quarter of 2014, according to the "second" estimate. In the first quarter, real GDP decreased 2.1 percent. The GDP estimate released today is based on more complete source data than were available for the "advance" estimate issued last month. The increase in real GDP in the second quarter primarily reflected positive contributions from personal consumption expenditures (PCE), private inventory investment, exports, nonresidential fixed investment, state and local government spending, and residential fixed investment. Imports, which are a subtraction in the calculation of GDP, increased. See the complete report at this link: USDOC-BEA

---

• U.S. Initial Unemployment Claims – 23 August 2014

---

In the week ending August 23, the advance figure for seasonally adjusted initial claims was 298,000, a decrease of 1,000 from the previous week's revised level. The previous week's level was revised up by 1,000 from 298,000 to 299,000. The 4-week moving average was 299,750, a decrease of 1,250 from the previous week's revised average. The previous week's average was revised up by 250 from 300,750 to 301,000. The advance seasonally adjusted insured unemployment rate was 1.9 percent for the week ending August 16, unchanged from the previous week's unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending August 16 was 2,527,000, an increase of 25,000 from the previous week's revised level. The highest insured unemployment rates in the week ending August 9 were in Puerto Rico (4.2), New Jersey (3.3), Connecticut (3.1), Alaska (3.0), Pennsylvania (2.7), California (2.6), Rhode Island (2.6), Massachusetts (2.5), Nevada (2.5), Illinois (2.3). The largest increases in initial claims for the week ending August 16 were in Georgia (+874), Alabama (+575), Connecticut (+467), Hawaii (+387), and Iowa (+131), while the largest decreases were in California (-8,771), Florida (- 1,462), Illinois (-1,442), Michigan (-1,401), and Texas (-1,050). Note: “Insured unemployment rate” refers to individuals who are unemployed and receiving UC benefits. See the complete report at this link: USDOL-BLS

---

• U.S. Metropolitan Area Employment And Unemployment -- July 2014

---

Unemployment rates were lower in July than a year earlier in 348 of the 372 metropolitan areas, higher in 16 areas, and unchanged in 8 areas. Fifteen areas had jobless rates of at least 10.0 percent and 68 areas had rates of less than 5.0 percent. Nonfarm payroll employment increased over the year in 327 metropolitan areas, decreased in 41 areas, and was unchanged in 4 areas. See the complete report at this link: USDOL-BLS

---

• U.S. Online Help-Wanted Advertising – June 2014

---

”Online advertised vacancies showed a small drop of 15,500 to 5,044,600 in July, according to The Conference Board Help Wanted OnLine® (HWOL) Data Series…. The June Supply/Demand rate stands at 1.9 unemployed for each advertised vacancy with a total of 4.4 million more unemployed workers than the number of advertised vacancies.... “’Labor demand continues to be at historically high levels with employer demand running at about 5 million ads each month,’ said Dr. Gad Levanon, Director of Macroeconomics and Labor Markets at The Conference Board. “’hile the average monthly increases have become more modest since early 2013, the overall trend has helped lower unemployment levels and reduced the U.S. Supply/Demand rate from a peak of 5.2 in June 2009 to 1.9 in June 2014.’” See the complete report at this link: The Conference Board

---

• U.S. Initial Unemployment Claims – 16 August 2014

---

In the week ending August 16, the advance figure for seasonally adjusted initial claims was 298,000, a decrease of 14,000 from the previous week's revised level. The previous week's level was revised up by 1,000 from 311,000 to 312,000. The 4-week moving average was 300,750, an increase of 4,750 from the previous week's revised average. The previous week's average was revised up by 250 from 295,750 to 296,000. Click on chart to enlarge The advance seasonally adjusted insured unemployment rate was 1.9 percent for the week ending August 9, unchanged from the previous week's unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending August 9 was 2,500,000, a decrease of 49,000 from the previous week's revised level. The highest insured unemployment rates in the week ending August 2 were in Puerto Rico (4.3), New Jersey (3.3), Alaska (3.1), Connecticut (3.1), Pennsylvania (2.9), California (2.8), Rhode Island (2.6), Massachusetts (2.5), Nevada (2.5), and the Virgin Islands (2.3). The largest increases in initial claims for the week ending August 9 were in California (+10,107), New York (+1,928), Massachusetts (+1,451), Michigan (+1,423), and Florida (+1,236), while the largest decreases were in Connecticut (- 397), Kansas (-305), South Carolina (-225), Arkansas (-206), and Hawaii (-188). Note: “Insured unemployment rate” refers to individuals who are unemployed and receiving UC benefits. See the complete report at this link: USDOL-BLS

---

• U.S. Real Earnings – July 2014

---

Real average hourly earnings for all employees was unchanged from June to July, seasonally adjusted. This result stems from an unchanged average hourly earnings, combined with a 0.1 percent increase in the Consumer Price Index for All Urban Consumers (CPI-U). Click on chart to enlarge: Real average hourly earnings was unchanged, seasonally adjusted, from July 2013 to July 2014. The unchanged real average hourly earnings, combined with a 0.3 percent increase in the average workweek, resulted in a 0.3 percent increase in real average weekly earnings over this period. *Note: Real earnings show the effect of inflation on your pay. If your salary went up by 2.1% over the year while the cost-of-living (CPI-U) rose 2.3%, then the “real” value of your salary fell by 0.2% [differences in some of the data are due to rounding and seasonal adjustment]. The figures reported here are earnings for all employees on private nonfarm payrolls, seasonally adjusted. See the complete report at this link: USDOL-BLS

---

• U.S. Consumer Price Index – July 2014

---

The Consumer Price Index for All Urban Consumers (CPI-U) increased 2.0 percent over the last 12 months to an index level of 238.250 (1982-84=100). For the month, the index was unchanged prior to seasonal adjustment. Click on chart to enlarge The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) increased 1.9 percent over the last 12 months to an index level of 234.525 (1982-84=100). For the month, the index fell 0.1 percent prior to seasonal adjustment. The Chained Consumer Price Index for All Urban Consumers (C-CPI-U) increased 1.9 percent over the last 12 months. For the month, the index fell 0.1 percent on a not seasonally adjusted basis. Please note that the indexes for the post-2012 period are subject to revision. The Consumer Price Index for August 2014 is scheduled to be released on Wednesday, September 17, 2014, at 8:30 a.m. (EDT). See the complete report at this link: USDOL-BLS

---

• U.S. Regional and State Employment and Unemployment - JULY 2014

---

Regional and state unemployment rates were generally little changed in July. Thirty states had unemployment rate increases from June, 8 states had decreases, and 12 states and the District of Columbia had no change. Forty-nine states and the District of Columbia had unemployment rate decreases from a year earlier and one state had an increase. The national jobless rate was little changed from June at 6.2 percent but was 1.1 percentage points lower than in July 2013. In July 2014, nonfarm payroll employment increased in 36 states and the District of Columbia, decreased in 13 states, and was unchanged in Iowa. See the complete report at this link: USDOL-BLS

---

• Connecticut Labor Situation – July 2014

---

Connecticut added 2,400 total nonfarm jobs (0.1%) in July. This is the sixth consecutive monthly increase and the state has now added 9,200 jobs (0.6%) over the year. At the same time the U.S. has increased its number of jobs by 1.4%. This boosts the current nonfarm employment recovery for Connecticut to 1,670,300 jobs (64.1% of job loss recovered). In the same period the U.S. has recovered 99.8% of its prerecession jobs. The unemployment rate in Connecticut was 6.6% in July 2014. This is down one-tenth of a percentage point from the June 2014 figure of 6.7% and lower by one and three-tenths of a percentage point from the July 2013 rate of 7.9%. The U.S. unemployment rate for July 2014 was 6.2%. See the complete report at this link: CTDOL CTDOL tries to paint a rosy picture of employment in our state, but in comparison to progress nationwide, we're not exactly in the pink.

---

• U.S. Producer Price Indexes – July 2014

---

The Producer Price Index for final demand rose 0.1 percent in July, seasonally adjusted. This increase followed a 0.4-percent advance in June and a 0.2-percent decline in May. On an unadjusted basis, the index for final demand climbed 1.7 percent for the 12 months ended in July. See the complete report at this link: USDOL-BLS

---

• U.S. Initial Unemployment Claims – 09 August 2014

---

In the week ending August 9, the advance figure for seasonally adjusted initial claims was 311,000, an increase of 21,000 from the previous week's revised level. The previous week's level was revised up by 1,000 from 289,000 to 290,000. The 4-week moving average was 295,750, an increase of 2,000 from the previous week's revised average. The previous week's average was revised up by 250 from 293,500 to 293,750. The advance seasonally adjusted insured unemployment rate was 1.9 percent for the week ending August 2, unchanged from the previous week's unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending August 2 was 2,544,000, an increase of 25,000 from the previous week's revised level. The highest insured unemployment rates in the week ending July 26 were in Puerto Rico (4.3), New Jersey (3.4), Alaska (3.1), Connecticut (3.1), California (2.8), Pennsylvania (2.8), West Virginia (2.8), Nevada (2.6), Rhode Island (2.6), Massachusetts (2.5), Illinois (2.4), and Maryland (2.2). The largest increases in initial claims for the week ending August 2 were in South Carolina (+982), Pennsylvania (+853), Michigan (+782), Iowa (+681), and Kansas (+440), while the largest decreases were in California (-9,244), Tennessee (- 1,090), New York (-1,063), Oregon (-967), and Georgia (-638). Click on chart to enlarge Note: “Insured unemployment rate” refers to individuals who are unemployed and receiving UC benefits. See the complete report at this link: USDOL-BLS

---

• U.S. Job Openings And Labor Turnover – June 2014

---

There were 4.7 million job openings on the last business day of June, little changed from 4.6 million in May. The hires rate (3.5 percent) was little changed and the separations rate (3.3 percent) was unchanged in June. Within separations, the quits rate (1.8 percent) and the layoffs and discharges rate (1.2 percent) were unchanged. See the complete report at this link: USDOL-BLS Click on chart to enlarge.

---

• U.S. Productivity and Costs - Q2 2014

---

Nonfarm business sector labor productivity increased at a 2.5 percent annual rate during the second quarter of 2014 as hours increased 2.7 percent and output increased 5.2 percent. (All quarterly percent changes in this release are seasonally adjusted annual rates.) From the second quarter of 2013 to the second quarter of 2014, productivity increased 1.2 percent as output and hours worked rose 3.2 percent and 2.0 percent, respectively. Unit labor costs in nonfarm businesses increased 0.6 percent in the second quarter of 2014, as the 3.1 percent increase in hourly compensation was larger than the increase in productivity. Unit labor costs increased 1.9 percent over the last four quarters. See the complete report at this link: USDOL-BLS

---

• U.S. Initial Unemployment Claims – 02 August 2014

---

In the week ending August 2, the advance figure for seasonally adjusted initial claims was 289,000, a decrease of 14,000 from the previous week's revised level. The previous week's level was revised up by 1,000 from 302,000 to 303,000. The 4-week moving average was 293,500, a decrease of 4,000 from the previous week's revised average. This is the lowest level for this average since February 25, 2006 when it was 290,750. The advance seasonally adjusted insured unemployment rate was 1.9 percent for the week ending July 26, unchanged from the previous week's unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending July 26 was 2,518,000, a decrease of 24,000 from the previous week's revised level. The highest insured unemployment rates in the week ending July 19 were in Puerto Rico (4.2), New Jersey (3.4), Alaska (3.2), Connecticut (3.1), Pennsylvania (3.0), California (2.8), Massachusetts (2.6), Nevada (2.6), Rhode Island (2.6), Illinois (2.3), Virgin Islands (2.3), and Maryland (2.2). The largest increases in initial claims for the week ending July 26 were in Washington (+426), New Jersey (+346), Maryland (+119), Rhode Island (+96), and Oregon (+82), while the largest decreases were in Michigan (-3,773), Ohio (- 2,701), New York (-2,375), South Carolina (-2,263), and Pennsylvania (-2,224). Note: “Insured unemployment rate” refers to individuals who are unemployed and receiving UC benefits. See the complete report at this link: USDOL-BLS

---

• Kids Need School Clothes? CT “Tax-Free Week” 17 AUG through 23 AUG

---

“Connecticut residents may wish to take advantage of the upcoming “Tax Free Week" which runs from Sunday, August 17 through Saturday, August 23. ”The annual one-week event eliminates Connecticut’s 6.35 percent sales tax on most clothing and footwear costing less than $300 per item and runs from the third Sunday in August through the following Saturday.” Source: Craig Miner, Connecticut House Republicans | 300 Capitol Ave. | Hartford, CT 06106

---

• U.S. Payrolls – June 2014

---

Private industry wages and salaries increased $28.9 billion in June, compared with an increase of $28.2 billion in May. • Goods-producing industries' payrolls increased $7.6 billion, compared with an increase of $8.6 billion; manufacturing payrolls increased $4.3 billion, compared with an increase of $6.5 billion. • Services-producing industries' payrolls increased $21.3 billion, compared with an increase of $19.5 billion. Government*** wages and salaries increased $1.7 billion, compared with an increase of $1.3 billion. See the complete report at this link: USDOC-BEA ***which apparently produces neither goods nor services...

---

• U.S. Personal Income – June 2014

---

In June Personal income increased $56.7 billion, or 0.4 percent, and disposable personal income (DPI) increased $51.5 billion, or 0.4 percent. Personal consumption expenditures (PCE) increased $51.7 billion, or 0.4 percent. In May, personal income increased $57.4 billion, or 0.4 percent, DPI increased $55.0 billion, or 0.4 percent, and PCE increased $39.8 billion, or 0.3 percent, based on revised estimates. See the complete report at this link: USDOC-BEA

---

• U.S. Employment Situation – July 2014

---

Total nonfarm payroll employment increased by 209,000 in July, and the unemployment rate was little changed at 6.2 percent. Gains occurred in professional and business services, manufacturing, retail trade, and construction. Both the unemployment rate (6.2 percent) and the number of unemployed persons (9.7 million) changed little in July. Over the past 12 months, the unemployment rate and the number of unemployed persons have declined by 1.1 percentage points and 1.7 million, respectively. Among the major worker groups, the unemployment rate for adult women increased to 5.7 percent and the rate for blacks edged up to 11.4 percent in July, following declines for both groups in the prior month. The rates for adult men (5.7 percent), teenagers (20.2 percent), whites (5.3 percent), and Hispanics (7.8 percent) showed little or no change in July. The jobless rate for Asians was 4.5 percent (not seasonally adjusted), little changed from a year earlier. See the complete report at this link: USDOLBLS

---