Comptroller Scanlon projects $284.5M General Fund surplus

Connecticut Comptroller Sean Scanlon released his monthly economic outlook for September, with a projected Fiscal Year 2024 General Fund surplus of $284.5 million and a Special Transportation Fund surplus of $204.2 million.

In his projection, Scanlon highlighted Connecticut’s job market – which added 2,100 jobs in August while the unemployment rate reached 3.6% — as a solid cornerstone of the state’s economy, but he was cautious that the Federal Reserve could enact an additional rate hike at its next meeting on Nov. 1.

“Connecticut continues to see consistent job growth and economic stability as we continue to emerge from the effects of the Covid-19 pandemic,” said Scanlon. “My office will continue to diligently monitor the impact of Federal Reserve interest rate hikes and inflation on our local economy and job market.”