Secrets of the Job Hunt


Wednesday, February 18, 2009

Connecticut Jobs Being Helped?

Connecticut jobs are hoping for a boost with the passing of the stimulus package. It is promised to create 41,000 jobs and could receive almost $2.8 billion. Senator Joe Lieberman is pleased with how the bill will affect the state. The Connecticut Post quoted Senator Lieberman saying he's "confident this bill really will protect and create millions of jobs and put billions of dollars into the pockets of people to help them through difficult times."

However, some are not as optimistic. The Hartford Courant reported on Wednesday a University of Connecticut study that challenges how the economy will be affected. According to the study,
the attempt to decrease the deficit by cutting $1 billion from state workers' salaries and benefits the state's economy would lose 7,000 private-sector jobs this year along with other layoffs.

The state is estimated to have 1.7 million jobs, which would be affected. This cut would create a large decrease in consumer spending and thousands of jobs lost. Thus prompting people to seek jobs in other states. "A cut of that size, leveled out over many years, would result in the state's economy having 5,000 fewer jobs in each year through 2020".

The report goes on the state that even if the federal stimulus increases the number of jobs in the state, it would experience a serious recession. Possibly worse than in 2001-2003.

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