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The $2.5 billion in the state’s Budget Reserve Fund (also known as the Rainy Day Fund) puts Connecticut "in pretty good shape" through at least June 30, said Gov. Ned Lamont. “Obviously, this is the rainy day,” added Secretary of the Office of Policy and Management Melissa McCaw. “We are well-positioned to weather this storm.”
Bridgeport’s Lecoq Cuisine Corp. has laid off 181 workers. “Although this action may be temporary, given the uncertainty created by this pandemic, this separation may be permanent,” according to Chief People Officer Laura Brown.
“We are starting to plan for our economic recovery and continue to look to book events over the next couple of years,” says Thomas Madden, Connecticut Convention & Sports Bureau chair and Director of Economic Development for Stamford.
The Bridgeport-Stamford-Norwalk corridor lost 1,000 jobs last month.
“Restaurants were the first businesses to be immediately and severely impacted by this crisis, and without your immediate assistance they will also be Connecticut’s first industry‐wide casualty,” Connecticut Restaurant Association Executive Director Scott Dolch warned the governor.
As of Friday, the number of students remaining on UB’s campus was under 100, most of whom are international.
Condon blamed the downward revision on the difficulty in growing jobs in a low unemployment rate environment.
Connecticut ranked second to last in terms of wage growth, with only South Carolina putting up a lower increase, while the state’s 4.1% unemployment rate was above the national figure of 3.9%.
The sector posted 160,600 jobs in July -- up nearly 3% from its low point in June 2014 – but thousands of jobs are going unfilled due to the skilled worker shortage, according to the state Department of Labor.
The pre-apprenticeship program allows students to apply the hours of work and study certified to any aerospace manufacturer.