News & Updates

US Economy: Small Is Beautiful

By Staff, on Jul 16, 2015

June 16, 2015
Read the full article on Dr. Ed's Blog

ADP Nonfarm Private Payroll Employment by Company Size

Notwithstanding politicians’ claims, businesses create jobs, not Washington. To be more exact, it is small businesses started and run by entrepreneurs that create most of the jobs in our economy.

ADP, the payroll processing company, compiles data series on employment in the private sector of the US labor market by company size. The series start during January 2005. Since then through June 2015, small companies with 1-49 employees added 5.1 million workers and had payrolls totaling 50.2 million. Medium-sized companies with 50-499 employees added 3.8 million workers and had payrolls totaling 43.0 million. Large companies with 500 workers or more cut 234,000 from their payrolls, which totaled 26.5 million.

Small and medium-sized companies currently account for 42% and 36% of private payrolls, according to ADP. Large companies account for just 22% of total private payrolls, down from 24% at the start of 2005.

CNBC's 2015 Top States for Business

By Staff, on Jun 25, 2015

June 25, 2015
Read the full article on CBIA.com

CT

While our biggest challenges haven’t gone away, Connecticut jumped 13 places--from 42nd to 33rd--in this year’s CNBC America’s Top States for Business rankings based on a top-drawer workforce and an improving economy.

Bipartisan celebration marks Fifth Street ribbon-cutting in Greenwich

By Staff, on Sep 16, 2014

September 15, 2014
By Ken Borsuk
Read the full article on the Greenwich-Post

There was a festive (and bipartisan) mood in the air on Wednesday when company owner Leonard Tannenbaum and his wife Stacey cut the ribbon on the new Greenwich headquarters of Fifth Street Management, LLC.

There were so many people on hand for the official opening for the company’s presence at 777 West Putnam Avenue, where it has taken over the entire third floor, that U.S. Rep. Jim Himes (D-4th) termed it a “who’s who of Connecticut politics.” Beyond Mr. Himes, First Selectman Peter Tesei and Selectman Drew Marzullo were there as was State Sen. L. Scott Frantz (R-36th), State Sen. Bob Duff (D-25th) and State Reps. Livvy Floren (R-149th), Stephen Walko (R-150th) and Fred Camillo (R-151st), among others, including the state Commissioner of the Department of Economic and Community Development Catherine Smith. And they were on hand to show their support for Mr. Tannenbaum, who had relocated his headquarters from White Plains, N.Y., to Greenwich, bringing in close to 90 jobs to town, with more slated to be added in the years to come.

Why U.S. Competitiveness is on the Rise

By Staff, on Sep 4, 2014

September 3, 2014
By Margareta Drzeniek
Read the full article on Weforum.org

For an economist whose job it is to measure countries’ success (or otherwise) in laying the foundations for long-term prosperity, the concept of green shoots for me takes on a different meaning to those most often reported in the press as harbingers of better times. Increases in gross domestic product, falls in joblessness and upticks in new housing starts are of course good and welcome, but taken alone these indicators offer us little insight into how the US economy will be doing in five or ten years’ time.