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Economists say recession hit state a year ago
Posted on 11/12/2008
STORRS, Conn. (AP) -- Economists at the University of Connecticut say the state has been in a recession for at least a year and has done a good job of coping with it. The Connecticut Center of Economic Analysis released a forecast Wednesday predicting the state will lose 40,000 jobs over the next two years. The report says that during the past year, Connecticut has seen only modest job losses and there has been "remarkable little" pain being felt by consumers. The report says Connecticut can expect its economy to shrink, and job losses will bring the state back to where it was in 2005. The economists say that with state and federal actions, consumers should expect the recession to be short-circuited and the state to return to a vigorous economic health.
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