US Senators Chris Dodd and Joseph Lieberman joined Gov. M. Jodi Rell at the state Capitol Wednesday to announce that they’ve joined forces with officials in New York and New Jersey in calling for the Department of Labor to approve a $48.2 million grant for workers displaced by the crisis on Wall Street.
Officials estimated—that if the National Emergency grant is approved by Labor Secretary Elaine Chao—about $7 to $10 million would be directed at Connecticut’s efforts to retrain and retain those workers.
The tri-state region will lose 160,000 financial sector jobs by the end of this year and 82,000 in 2009, Rell said. She said the grant would not be used for “high-priced” individuals such as bankers or brokers, but for the “back office” works such as secretaries, computer technicians, and the like.
“What about the waiters and the waitresses in the restaurants in Stamford? Rell said. “What happens when they have no customers to serve?”
US Sen. Chris Dodd said an increase of 35,000 people from January to October lost their jobs. He said there were a total of 125,000 jobs lost in Connecticut and based on Rell’s projections those numbers are going up.
“Obviously the problems are not going away and the news everyday of further assistance being given to financial institutions and others increases and one wonders where the end to all of this is,” he added.