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Local News

Stats Show Recession Ended In Jan 2010 In State

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econ pic from cbs site

HARTFORD, Conn. (AP) _ The state Department of Labor says the deepest recession in decades measured by job losses ended in Connecticut in January 2010.

The agency said Wednesday that new revised and adjusted employment data show that January 2010 was the bottom of the downturn, one month later than initially calculated.

During the 22 months of the recession, 119,200 jobs were lost, or 7 percent. That was worse than a 3.7 percent loss from 2000-2003, but not as bad as a 9.3 percent job loss from 1989-1992.

The National Bureau of Economic Research, a panel of economists in Cambridge, Mass., said in September 2009 that the longest recession in the U.S. since World War II ended in June 2009.

However, a state labor research analyst says Connecticut’s calculation focuses only on jobs.

(Copyright 2011 by The Associated Press.  All Rights Reserved.)

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