CONNECTICUT UNEMPLOYMENT

CONNECTICUT UNEMPLOYMENT IS 6.1% OF ALL WORKERS. THE NATIONAL AVERAGE AT THE MOMENT IS 6.5%. THE LAST TIME THE NATIONAL AVERAGE FOR THE UNEMPLOYMENT WAS THIS HIGH WAS IN APRIL 1994 WHEN IT WAS 6.4%. THE UNITED STATES LOST A TOTAL OF AN ESTIMATED 240,000 JOBS IN OCTOBER. CONNECTICUT SUPPOSEDLY LOST ABOUT 2,300 JOBS. CONNECTICUT COULD LOSE BETWEEN TWENTY FIVE AND EIGHTY THOUSAND (25,000 TO 80,000) JOBS OVER THE NEXT YEAR.

JOHN TIRZONIE, A CONNECTICUT STATE ECONOMIST IS ESTIMATING THE JOB LOSE IN CONNECTICUT AT BETWEEN 25,000 TO 35,000 FOR NEXT YEAR. DON KLEPPER-SMITH, THE CHAIRMAN OF GOVERNOR M. JODI RELL'S ECONOMIC ADVISORY PANEL THINKS THE NUMBER OF LOST JOBS COULD BE BETWEEN 60,000 TO 80,000 FOR NEXT YEAR. KLEPPER-SMITH SUPPOSED SAID, "IT'S GOING TO BE WORSE THAN THE LAST RECESSION. (2001) BUT IT'S GOING TO AS BAD AS THE GREAT RECESSION FROM 1989 TO 1992, IN WHICH THE STATE LOST 160,000 JOBS. THE NEXT TWO OR THREE QUARTERS ARE GOING TO CONSTITUTE TOUGH SLEDDING FOR BUSINESSES AND CONSUMERS." KEPPLER-SMITH TALKING OF THE DROP IN THE NATIONAL AVERAGE OF UNEMPLOYMENT FROM 6.1% IN SEPTEMBER TO 6.5% IN OCTOBER STATED, "THIS WAS A SOBERING JOBS REPORT. IT REFLECTS SIGNIFICANT DETERIORATION IN THE U.S. LABOR MARKETS, AND IT'S CONFIRMATION THAT WE HAVE BEEN IN RECESSION NOW FOR THE LAST THREE QUARTERS."

LOOK AROUND, WHAT DO YOU SEE? BEIT BROTHERS, IN UNCASVILLE, A 100 YEAR OLD COMPANY IS GOING OUT OF BUSINESS. SERGIO'S (A PIZZA RESTAURANT ON ROUTE 32, IN UNCASVILLE) RECENTLY CLOSED IT'S DOORS. THE FOXWOODS RESORT CASINO HAS LAID OFF AN ESTIMATED 900 WORKERS. THE MOHEGAN SUN HAS LOST WORKERS THROUGH ATTRITION. HARTFORD FINANCIAL IN HARTFORD, IS LAYING OFF AN ESTIMATED 125 WORKERS. GREENWOOD PUBLISHING GROUP, IN WESTPORT, IS SUPPOSED TO BE LAYING OFF AN ESTIMATED 150 WORKERS. IT HAS BEEN REPORTED THAT MEAD-WESTYACO, IN ENFIELD, IS LAYING OFF AN ESTIMATED 75 EMPLOYEES. THE MYSTIC AQUARIUM IS LAYING OFF BETWEEN 10% TO 15% OF IT'S WORKERS. LINEN AND THINGS IS REPORTED TO BE CLOSING ALL ITS STORES NATIONWIDE.

TIRIZONIE FEELS THAT THE STATE OF CONNECTICUT WILL FOLLOW THE NATION IN UNEMPLOYMENT. HE REPORTED SAID, "WE ARE GOING TO SEE JOB LOSSES AT LEAST THROUGH THE SECOND AND THIRD QUARTERS OF 2009."

KEPPLER-SMITH SAID, " JOBS ARE DOWN, STOCKS ARE DOWN, MEDIAN HOUSING PRICES ARE DOWN. YOU MARRY THAT WITH THE LOWEST CONSUMER CONFIDENCE LEVEL IN 41 YEARS, CONSUMERS ARE FEELING LESS WEALTHY, AND THEY'RE NOT IN THE MOOD TO SPEND."

ECONOMIST ARE TELLING CONSUMERS NOT TO USE THEIR CREDIT CARDS AND TO USE ONLY CASH WHEN POSSIBLE. THE EXPERTS EXPECT A SLOW CHRISTMAS. MANY PEOPLE ARE SAYING THEY ARE BUYING PRESENTS FOR THEIR GRANDCHILDREN AND CHILDREN BUT NOT FOR THE ADULTS IN THE FAMILY.

WHAT DOES THIS MEAN TO MOHEGAN SUN? WAS DOES THIS MEAN TO THE MOHEGAN PEOPLE? WHAT DO YOU THINK?