Clock apartment 967/23/2023 ![]() This extreme population shift was record-breaking and its population of 124,196 in 1994 was the lowest it had been since prior to the first World War. ![]() This staggering 11.1% loss was, as reported by the Comptroller, “the largest in the nation for a large city during the four-year period”. Between the years of 19, Hartford saw a population loss of 15,543. By 1990, that number nearly doubled, with a rate of 27.5%.Īs the economy seemed to decline further and further in Hartford, fewer and fewer residents were able to find reasons to remain in the city. In 1970, Hartford’s poverty rate was 17%. By October of 1996, Hartford saw an unemployment rate of 9.2%. The transportation industry, as well as the manufacturing industry, saw losses as well. As defense spending came to a halt, the ripple effects were undeniable. However, between 19, that dropped to a mere 1.3%. Defense contracts in Hartford made up 5.7% of personal income between the years of 19, accordioning to the Comptroller of Connecticut. ![]() According to University of Connecticut economist Fred Carstensen, Connecticut and the capital were “’old-line manufacturing, old-line financial services and old-line defense, and all three of them went south at the same time’" (Carstensen qtd. Hartford began to truly see the effects of the recession of the 1990s in areas of insurance, defense, and business capital. However, the late 1980s saw the first signs of economic trouble for the state as a whole as the nation’s economy slowed from a full-out sprint to a leisurely walk. Real estate was booming, office space in Hartford tripled, and job growth was unprecedented. The 1980s were a façade of economic hope and prosperity across the nation, especially in Connecticut.
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