Connecticut employers added 3,600 jobs in October, with the biggest gains coming in the retail sector. The state’s unemployment rate, which is based on a separate survey, remained steady from September at 6.4 percent. In the first ten months of the year, Connecticut has added 18,300 jobs, up from 13,700 in the same period of 2013.
Fitch: Connecticut Outlook Still Negative
Ratings agency Fitch issued an AA rating on $500 million worth of Connecticut general obligation bonds but continued with its negative outlook. Fitch downgraded its outlook for the state to negative in 2013. The agency takes into account Connecticut's reduced fiscal flexibility, relatively high debt, and reliance on one-time budget revenues.
Senator Petitions Against Utility Rate Hike
One state senator is launching a new effort to persuade regulators to toss a rate request by Connecticut Light and Power. Republican Art Linares is asking residents to sign an online petition opposing the rate hike. The Public Utility Regulatory Authority is due to issue a draft decision next month.
