[JayCT]

Originally Posted by Beeker2211

I mean whilei don't complain about our GDP growth rate, while I wouldn't mind a big increase I certainly truly and surely did NOT want how the test of the country does it. It's so... Soulless as isolating which are two things you cannot say about CT.

True. Jay

[kidyankee764]

Originally Posted by JayCT

You have never heard of wealthy families that live off of investments? You have never heard of Day Traders who move money in and out of the stock market? You did not know that patent holders receive royalties for the product they developed? These have been around for well over a century. Jay

Again, there are wealthy people who live solely off investments and “royalties”, but they are a very tiny percentage of the overall population and hardly affect the unemployment rate.

[JayCT]

Originally Posted by kidyankee764

Again, there are wealthy people who live solely off investments and “royalties”, but they are a very tiny percentage of the overall population and hardly affect the unemployment rate.

You seem to be confused. Reminds me of someone else. Keeps deferring to other topics to avoid answering the question asked of them.

Okay, I will play your silly game. Those people do affect the state’s Labor Force Participation Rate which is what I said. We are just 1% below Massachusetts and those people could be part of the difference. Still confused? Jay

[Heel82]

Originally Posted by JayCT

Sorry but you do not know what the future of our state is. Nor do I. All states economies are built on their past. As reported by the Federal Reserve, our GDP continues to grow even though our population has not grown. Even your data linked shows it is going up. The fact that we have consistently been in the top five for GDP no matter how the economy performs shows how stable our economy is. If anything that is very enviable. Jay

The link doesn’t show it going up during that 7-year period. If you looked at things since right before the crash, the numbers are worse. Connecticut’s real gdp per capita contracted the 2nd most at 8% (behind Wyoming). Put it another way, in 2007, Connecticut’s gdp per capita was 42% above the nation’s. Now it’s 19% above and falling. There has been a dynamic shift in the economy and it does no good to talk about scratches and flesh wounds. Connecticut’s economy is acting like an energy bust state.

[BobNJ1960]

Originally Posted by Heel82

The link doesn’t show it going up during that 7-year period. If you looked at things since right before the crash, the numbers are worse. Connecticut’s real gdp per capita contracted the 2nd most at 8% (behind Wyoming). Put it another way, in 2007, Connecticut’s gdp per capita was 42% above the nation’s. Now it’s 19% above and falling. There has been a dynamic shift in the economy and it does no good to talk about scratches and flesh wounds. Connecticut’s economy is acting like an energy bust state.

Thank you. That is an insightful post.

[CTartist]

I just found something that is very concerning. I looked for something that would show the difference in state GDP over 10 year period and I found it.

I am now going to have to agree with all the people who are ringing the alarm bells about our economy.

GDF Per State Growth or Decline
https://ssti.org/blog/useful-stats-c...tate-2008-2017

The Worst States
WY -12
CT -9 (we are tied for the 2nd worst GDP growth...this is VERY concerning)
NV -9
LA -5
AZ -5
FL -3

Here is an item of note. New York state's GDP grew by 11%. A large part of the New York state economy is from Wall Street. In the past if Wall Street did well so does CT. To see NY state see an increase of 11% and we DECLINED by almost the same amount is VERY VERY concerning.

[kidyankee764]

Originally Posted by JayCT

You seem to be confused. Reminds me of someone else. Keeps deferring to other topics to avoid answering the question asked of them.

Okay, I will play your silly game. Those people do affect the state’s Labor Force Participation Rate which is what I said. We are just 1% below Massachusetts and those people could be part of the difference. Still confused? Jay

Sorry, but the statements made are being done with seemingly little knowledge of how many people actually live solely off of royalties without any employment income. I’m glad you now said they “could” be part of the difference instead of continuing to matter of factly state they are - because it’s such a tiny percent of the overall population (even a tiny percent of the 1%) that they surely don’t make much of a dent in employment statistics.

[kidyankee764]

Originally Posted by CTartist

I just found something that is very concerning. I looked for something that would show the difference in state GDP over 10 year period and I found it.

I am now going to have to agree with all the people who are ringing the alarm bells about our economy.

GDF Per State Growth or Decline
https://ssti.org/blog/useful-stats-c...tate-2008-2017

The Worst States
WY -12
CT -9 (we are tied for the 2nd worst GDP growth...this is VERY concerning)
NV -9
LA -5
AZ -5
FL -3

Here is an item of note. New York state's GDP grew by 11%. A large part of the New York state economy is from Wall Street. In the past if Wall Street did well so does CT. To see NY state see an increase of 11% and we DECLINED by almost the same amount is VERY VERY concerning.

Yes, this is concerning and is what many posters here are trying to say. The above post that “wealth doesn’t equal health” is spot on. When you see statistics that the income is declining, the growth has stagnated and GDP is beginning to suffer, to hear people say “CT’s economy is better than ever” tells me there is unfortunate denial amongst some residents. That isn’t going to fix what’s happening.

[JayCT]

Originally Posted by CTartist

I just found something that is very concerning. I looked for something that would show the difference in state GDP over 10 year period and I found it.

I am now going to have to agree with all the people who are ringing the alarm bells about our economy.

GDF Per State Growth or Decline
https://ssti.org/blog/useful-stats-c...tate-2008-2017

The Worst States
WY -12
CT -9 (we are tied for the 2nd worst GDP growth...this is VERY concerning)
NV -9
LA -5
AZ -5
FL -3

Here is an item of note. New York state's GDP grew by 11%. A large part of the New York state economy is from Wall Street. In the past if Wall Street did well so does CT. To see NY state see an increase of 11% and we DECLINED by almost the same amount is VERY VERY concerning.

Once again, we have the third highest GDP per capita in the nation. Being that high, we do not need to grow as much as states with low GDP’s. Growth is a function of change. We did not get hit by the recession as bad as other states so we do not need to grow as much to recover from it. Unlike New York, where the stock market crash had a huge impact on their GDP. Again I would not be concerned. Jay

[kidyankee764]

Originally Posted by JayCT

Once again, we have the third highest GDP per capita in the nation. Being that high, we do not need to grow as much as states with low GDP’s. Growth is a function of change. We did not get hit by the recession as bad as other states so we do not need to grow as much to recover from it. Unlike New York, where the stock market crash had a huge impact on their GDP. Again I would not be concerned. Jay