[JayCT]

Originally Posted by CT_Yank

One thing I noticed on WARN is that UBS and RBS have dropped off reporting. I know for a fact that at least 30 people have been let go this year from RBS and UBS got rid of finance tech roles recently too. Not sure why this happened but WARN is under reporting.

They could have been part of layoffs announced and noted on WARN last year. They were on it last year. Jay

[JayCT]

Originally Posted by BobNJ1960

Correct, but we will keep economic stagnation until the next recession, at which point its 2009 all over again.

Except that during the last recession we did not have double digit unemployment like those high growth states. Says a lot about the strength and diversity of our economy. Jay

[Fuele]

Here’s how the top ten U.S. states compare, ranked from most to least income inequality.

New York
Connecticut
Louisiana
California
Florida
Massachusetts
Georgia
Texas
Mississippi
Illinois

[CT_Yank]

Originally Posted by JayCT

They could have been part of layoffs announced and noted on WARN last year. They were on it last year. Jay

Nope. They simply stopped reporting a year ago but continued layoffs. Probably 60 more gone in last year. RBS was like clockwork each month. Strange.

[kidyankee764]

Originally Posted by JayCT

We are a bad news state because the media likes to take pot shots at our wealthy state. Did you miss my post the other day that Connecticut’s unemployment rate is lower than North Carolina? Or that the WARN list is not as bad as you contend. Below is my post on it. Jay

Unfortunately it is becoming less wealthy, per the statistics. People moving out have a 26% higher income than people moving in. That’s not good for taxpayers.

[JayCT]

Originally Posted by kidyankee764

Unfortunately it is becoming less wealthy, per the statistics. People moving out have a 26% higher income than people moving in. That’s not good for taxpayers.

That has been going on for decades now. As I said, high income people retiring being replaced by lower cost younger workers. It’s the natural cycle of business. Nothing new. I doubt it makes much difference. Jay

[BobNJ1960]

Originally Posted by kidyankee764

Unfortunately it is becoming less wealthy, per the statistics. People moving out have a 26% higher income than people moving in. That’s not good for taxpayers.

That has very bad consequences. NJ has gone through it already.

[BobNJ1960]

Originally Posted by CT_Yank

Nope. They simply stopped reporting a year ago but continued layoffs. Probably 60 more gone in last year. RBS was like clockwork each month. Strange.

Not all obey the WARN Act requirements. Few get punished for non-compliance.

[kidyankee764]

Originally Posted by JayCT

That has been going on for decades now. As I said, high income people retiring being replaced by lower cost younger workers. It’s the natural cycle of business. Nothing new. I doubt it makes much difference. Jay

Has it? Or are we ignoring that as of 2017, the state lost 2% of its annual adjusted gross income?

[beerbeer]

No one is replacing the salaries from the HQs of GE or UTC. Hundreds of these these guys were making 7 and some 8 figure salaries.