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The Hudson Valley had an unemployment rate in September of 6.5%, slightly below the average for all 10 regions of the state of 6.6% and dramatically lower than New York City’s rate of 13.9%.
Eric S. Rosengren of the Boston Fed warned against prolonging low rates as the economy recovers.
Acquired in 2019 by San Francisco-based Le Tote for $75 million, Lord & Taylor, headquartered in New York City, was established in 1826.
In addition, the Connecticut Department of Social Services will provide over $16.5 million in Emergency Supplemental Nutrition Assistance (SNAP) Benefits to nearly half of Connecticut’s SNAP participants on Sept. 17.
The firm’s second-quarter revenues were down 67% on a year-over-year basis.
Connecticut and New York have been approved for grants under FEMA’s Lost Wages Assistance program, which will allow both states to provide $300 per week -- on top of their regular unemployment benefit -- to those unemployed due to Covid-19.
If approved, the funds will “help fill the hole left when the Federal Pandemic Unemployment Compensation Program expired on July 26,” the governor said, noting that "this is only a temporary backstop,”
When the economic effects of the pandemic were first seen by the state’s Department of Labor -- during the week of March 15 – 50,109 females filed for unemployment, compared with 28,464 males.
All employees were offered relocation opportunities to Englewood Cliffs, New Jersey; 45 workers accepted that offer, with the remaining 90 to be permanently laid off.
"This measure is part of a larger initiative to reimagine how we operate as a university in the face of anticipated financial and enrollment challenges ahead and, more importantly, remain regionally and nationally competitive," said John Petillo, the university's president.
AptarGroup, based in Crystal Lake, Illinois, is permanently closing its facilities in Stratford and Torrington.