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The reforms are estimated to save the unemployment fund $84.25 million annually while generating $130.9 million in new annual revenues.
The unemployment rate decreased by 0.3% in May, to 5.8%, compared to 13.3% in May 2020.
Workers will be eligible to receive only one incentive payment.
The trust fund has been insolvent for 48 of the last 50 years.
The state DOL projects Connecticut’s 2020 to 2022 job growth to rise at a higher rate than Massachusetts’ 12.5% but below New York’s 17%.
“What is the biggest threat to our recovery? Ourselves,” CBIA President and CEO Chris DiPentima declared.
The governor called his proposal “a once-in-a-lifetime opportunity to shape the future of Connecticut’s workforce and ensure it aligns with the needs of the post-pandemic, 21st century economy.”
According to the chapter’s Director of Human Resources Kathleen Portolese, 11 of the affected employees are part-timers who wok “very limited hours.”
The $10 million grant from the U.S. Department of Labor will help build career pathways in the information technology and advanced manufacturing sectors.
City officials say Stamford is only a few hundred residents away from becoming the second-largest city in the state.
The order retroactively and temporarily increased weekly unemployment benefits to $100 for many Connecticut residents, enabling them to qualify for the federal Lost Wages Assistance Program.