[BobNJ1960]

Originally Posted by kidyankee764

This is where you’re going to see the success divide between business hotels and leisure hotels. Connecticut has a lot of the former since the latter is mostly bed and breakfast types (which should be fine because people are starting to vacation again). Too bad.

In some ways, the People's news is more alarming, as those in Bridgeport were well-paying jobs. The only way the affected maintain their income is search for employment at other bank hqs, and most likely that means relocating.

I am pleased at one bit of news. Someone I know who was not affected said all the laid off to come have been told already. That is better than making people guess. 79% of Bridgeport staff will keep their jobs.

[BobNJ1960]

On the bright side, Milford is not listed in towns with layoffs in the People's Bank WARN Act notice.

[BobNJ1960]

Can't post this People's Bank news link, as it is Insider Premium, but I did not realize pre covid, the hq had just 1,350 staff. 200 man it now due to covid wfh, but downtown restaurants were hoping to get back close to the 1,350 level before merger talk. The 661 cuts are all hq, so hq will be cut just about in half. I would bet many of the group left will be perm wfh.

I knew once they got bought, a big layoff would occur, but was hoping the hq kept more than half the staff.

If anyone has Premium, it is available via the Post.

[Lincolnian]

WFH is definitely impacting downtown Hartford. I am there nearly everyday. It is a shadow of what it was preCovid. The restaurants I frequent are definitely feeling it. I walked into a deli I go to often two weeks ago at lunch time and there was no one there. There used to be a line with as many as 10 people on any given day. I have talked to the owner a few times since May. He said there has been no substantial difference since CT reopened for business for him. There is also a shift in who is renting downtown with executives who formerly worked downtown moving out now that they can work from home and those who must work downtown moving in. Due to these factors downtown Hartford is not seeing the increases in rents for housing that the rest of the country is experiencing. With rising costs this makes it difficult for landlords who rent condominium units to cover their costs since many of those moving out typically had higher salaries than those moving in.

The effects of Covid, coupled with additional costs being added due to changes in policies at both the state and federal level, are hitting some areas, such as Hartford, harder than others. I've always had great hope for Hartford, but sadly it seems the current situation has likely set it back at least a decade. Cities like Hartford won't be able to climb out of this alone. Without a strong economic driver it will require external assistance since you can't squeeze any more from the residential property owner or those providing housing.

[BobNJ1960]

Originally Posted by Lincolnian

WFH is definitely impacting downtown Hartford. I am there nearly everyday. It is a shadow of what it was preCovid. The restaurants I frequent are definitely feeling it. I walked into a deli I go to often two weeks ago at lunch time and there was no one there. There used to be a line with as many as 10 people on any given day. I have talked to the owner a few times since May. He said there has been no substantial difference since CT reopened for business for him. There is also a shift in who is renting downtown with executives who formerly worked downtown moving out now that they can work from home and those who must work downtown moving in.

Great summary. I have seen the same thing at my favorite Milford delis. I started wfh March 2020, and at the beginning of my period home, they were far busier Monday-Friday than today. I know of a few corp offices that one told me closed (perm wfh instead), which he had a ton of business with, so its a good chunk of his hit, but I am still seeing far fewer walk in individuals like yourself at lunch, also. It is NOT just Ct. Went to NYC one day last week, saw the same thing as did my boss going in one day this week.

I knew going into a lockdown economically some things would simply never bounce back. A healthy chunk of business lunchtime volume may simply be a permanent causality, without a solution.

[SteveM85]

Originally Posted by Lincolnian

WFH is definitely impacting downtown Hartford. I am there nearly everyday. It is a shadow of what it was preCovid. The restaurants I frequent are definitely feeling it. I walked into a deli I go to often two weeks ago at lunch time and there was no one there. There used to be a line with as many as 10 people on any given day. I have talked to the owner a few times since May. He said there has been no substantial difference since CT reopened for business for him. There is also a shift in who is renting downtown with executives who formerly worked downtown moving out now that they can work from home and those who must work downtown moving in. Due to these factors downtown Hartford is not seeing the increases in rents for housing that the rest of the country is experiencing. With rising costs this makes it difficult for landlords who rent condominium units to cover their costs since many of those moving out typically had higher salaries than those moving in.

The effects of Covid, coupled with additional costs being added due to changes in policies at both the state and federal level, are hitting some areas, such as Hartford, harder than others. I've always had great hope for Hartford, but sadly it seems the current situation has likely set it back at least a decade. Cities like Hartford won't be able to climb out of this alone. Without a strong economic driver it will require external assistance since you can't squeeze any more from the residential property owner or those providing housing.

The polar opposite is in Stamford and area. It's brimming with activity. Streets are jammed. Lunch and dinner dining is crowded. Rush hour volumes on the freeway and Merritt are back with a vengeance. Maybe even worse since summers usually have lower volumes. Don't even think about getting on one of them Thursday-Sunday.

[mdovell]

Of course on the inverse is that we'd also see more local restaurants get jammed. A decent suburban restaurant is probably sitting pretty right now. There's one near me where they actually had to hire someone to manage the parking. Pickup is still big, portions still big but wait times are up there and it's a main road. Hardware store has started to emphasize online ordering and pickup. Heck I got a joblot email now that they'll start shipping direct or to a local store. I drove though Hartford the other day. Plenty of car traffic, one guy on a motor scooter but hardly any pedestrians.

[beach43ofus]

Sad news for CT's economic climate:

https://www.journalinquirer.com/conn...80928d681.html

The hotel/motel industry "is in serious trouble", & has lost 7,400 jobs.

Only Hawaii, New York, Massachusetts, & Illinois have fared worse than CT in lost hotel/motel jobs.

Business travel is down. Maybe Summer tourism will help. I opted for an airbnb instead when visiting CT next month...better value, & less exposure to others that might carry a Covid variant.

CT's population is the slowest growing in the NE, & the 4th slowing nationally, & that's bad for the economic climate, & hotels. Less people = less commerce:

https://ctmirror.org/2021/04/27/ct-s...census-report/

Fairfield County is the only county of 8 in CT, that has had any population growth since 2010, & the rest are losing population:

https://worldpopulationreview.com/us-counties/states/ct

Fairfield County benefits from its proximity to NYC, but NYC isn't faring well either.

CT's spending more on advertising aimed at tourism, so perhaps that will help.

[BPt111]

Originally Posted by beach43ofus

Sad news for CT's economic climate:

https://www.journalinquirer.com/conn...80928d681.html

The hotel/motel industry "is in serious trouble", & has lost 7,400 jobs.

Only Hawaii, New York, Massachusetts, & Illinois have fared worse than CT in lost hotel/motel jobs.

Business travel is down. Maybe Summer tourism will help. I opted for an airbnb instead when visiting CT next month...better value, & less exposure to others that might carry a Covid variant.

CT's population is the slowest growing in the NE, & the 4th slowing nationally, & that's bad for the economic climate, & hotels. Less people = less commerce:

https://ctmirror.org/2021/04/27/ct-s...census-report/

Fairfield County is the only county of 8 in CT, that has had any population growth since 2010, & the rest are losing population:

https://worldpopulationreview.com/us-counties/states/ct

Fairfield County benefits from its proximity to NYC, but NYC isn't faring well either.

CT's spending more on advertising aimed at tourism, so perhaps that will help.

CT is already overcrowded it not much land for growth especially coastline.

[CTartist]

This article is dated July 27, 2021.

States Whose Economies Are Failing vs. States Whose Economies Are Thriving
https://www.yahoo.com/finance/news/s...120027082.html

CT IS IN THE TOP 15 THAT HAS A THRIVING ECONOMY!

Well, well well.......hmmmm, where's Florida, Tennessee, South Carolina, North Carolina, TEXAS etc.?

15 Kansas
14 Connecticut
13 Delaware
12 Virginia
11 Iowa
10 Maryland
9 Minnesota
8 District of Columbia
7 Idaho
6 Massachusetts Always good to have your neighbor doing well too.
5 Washington
4 Nebraska
3 New Hampshire
2 South Dakota
1 Utah

I bet the people who did this list understand what PER CAPITA means.