Bristol accounts for 7,643 jobs,down 1.4%, while Stamford is home to 6,774, down 2% over the past twelvemonths.Detailed profiles of Connecticut’s 5,820 manufacturers and 827 industrialdistributors can be found in the 2010 Connecticut Manufacturers Register,available in print for $106 and on CD-ROM from $171. Second-ranked Groton accounts for 7,863 jobs, withemployment down 12% over the past twelve months. New Haven County’s jobs are down 6.3% with thecounty currently home to 47,031 industrial workers.New London County saw thelargest decline with industrial jobs down 11.6% while Middlesex County lostthe fewest, down 1.2% over the year.MNI’s city data shows Stratford is the state’s top city for manufacturingemployment, home to 10,835 jobs, with no significant change in employmentreported over the year. Hartford County ishome to 68,174 jobs, down 6.3% while Fairfield County accounts for 56,191 ofthe state’s jobs, down 3.4%.
Employment in furniture/fixtures fell 7%;chemicals were down 6.3%; stone/clay/glass down 5.8%; textiles/apparel down 3%and lumber/wood down 2.9%.According to MNI, Hartford, Fairfield and New Haven counties account for 77%of the state’s manufacturing employment or 171,556 jobs. * “The recession has been losing steam since the spring, although very large job losses continue,” Ken Goldstein, a Conference Board economist, said in a statement “Nevertheless, confidence is slowly rebuilding. If these trends continue, expect a slow recovery this autumn.”COMMENTS:JOE SALUZZI, CO-MANAGER OF TRADING, THEMIS TRADING, CHATHAM,NEW JERSEY:”They were supposed to be up, and they were up a little bit more than expected; the market seems to like it. You know what is one of the biggest leading indicators — the stock market — so it’s kind of a self-fulfilling prophecy there. In a bull mode like this, the market loves these types of numbers and it gets people giddy, but you have to be careful with that, it’s really a circular logic. Overall, I don’t put much credence into this leading indicator. My leading indicators — housing, unemployment and toxic bank assets — all three are still a disaster.”JONATHAN BASILE, ECONOMIST, CREDIT SUISSE, NEW YORK:”It is a confirmation that a turn in the economy is coming.
It bolsters the case of a recovery in the second half of the year What I’m impressed with is the breadth of the gains. Prior to this, it was the money supply that the Fed was pumping in, which was driving the increase. This all points to signs the recession should end.”DAN FARETTA, SENIOR MARKET STRATEGIST, LIND-WALDOCK, CHICAGO:”It came out a little better than expected, and with the market being positive the past couple of weeks, we’re seeing a slight turnaround. We’ve got some better-than-expected earnings and some better-than-expected housing data This could be a near-term bottom for the market.
Everything is looking better than expected.”MARKET REACTION: STOCKS: U.S stock indexes rose slightly BONDS: U.S Treasury debt prices were little changed DOLLAR: U.S. dollar weakened against the euro, rose against the yen. Hot Stocks. WARREN, NJ, Jul 20 (MARKET WIRE) — MindTree Ltd., a global IT Solutions company, today announced that itsco-founder and Gardener, Subroto Bagchi, has been elected Vice Chairmanof the Company by the Board of Directors in its meeting on July 20, 2009.As Vice Chairman of MindTree, Bagchi will lead the efforts inco-innovation in collaboration with its customers. Bagchi’s leadershipwill help MindTree create differentiated value add for its customersglobally. He will also be the Chairman of MindTree’s Innovation Council.Bagchi will continue in his current role of Gardener where he helps shapefuture leaders of the Company. He has personally spent time with more than100 MindTree leaders during the last 15 months, helping them expand theircapacity and preparing them to steer the Company towards its stated Visionof becoming a $1 Billion organization by 2014.
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