2 HARTFORDBUSINESS.COM | FEBRUARY 9, 2026
Mixed signals: CT growth
strong as jobs soften,
productivity rises
Connecticut's economy is showing
diverging trends, with strong
output growth alongside softer
labor-market conditions.
The state ranked fourth nationally
in third-quarter real GDP growth at
a 5.6% annual rate, according to the
U.S. Bureau of Economic Analysis,
outpacing the U.S. average. Growth
was driven largely by durable-goods
manufacturing, finance and insur-
ance, information, and professional
and scientific services — sectors
that generate high economic output.
At the same time, the unemploy-
ment rate in December rose to
4.2% and total payroll employment
declined modestly over 2025, data
from the Department of Labor show.
State officials said the pattern points
to productivity gains and capital-in-
tensive growth rather than broad-
based hiring, a dynamic expected
to continue unless labor-force
participation rebounds.
CT officials approve UConn
purchase of Waterbury Hospital
Connecticut's Office of Health
Strategy has approved a $13 million
deal allowing UConn Health to acquire
Waterbury Hospital from bankrupt
operator Prospect Medical Holdings.
The approval follows state clear-
ance of Hartford HealthCare's take-
over of Prospect's other Connecticut
hospitals. OHS said UConn Health
was the only bidder and warned the
hospital could close without approval.
As a condition, UConn Health
must maintain all services for at
least three years and plans to invest
$250 million in the hospital and
related facilities.
Charter workforce fell by
about 2,600 jobs in 2025
Stamford-based Charter Commu-
nications reported a workforce
decline of roughly 2,600 employees
last year, according to its latest
annual report. The company
reported about 91,900 full-time
equivalent employees, down from
roughly 94,500 a year earlier.
Charter in October disclosed plans
to eliminate about 1,200 positions,
UConn Health has been given clearance to
buy Waterbury Hospital. Photo | Shahrzad
Rasekh/CT Mirror
Department of Economic and Community Development Commissioner Daniel O'Keefe, Pantheon Electric CEO Greg Smith, Lt. Gov. Susan Bysiewicz
and Gov. Ned Lamont attend a ribbon-cutting ceremony for Pantheon Electric. HBJ Photo | Michael Juliano
Electrical infrastructure firm opens CT HQ
P
antheon Electric, an electrical infrastructure
manufacturer formed through the combination
of several metal and conductor businesses, has
opened a new headquarters in Stamford.
The company marked the opening of its
4,853-square-foot office at 100 First Stamford Place,
which hosts 20 employees, with a ribbon-cutting
ceremony attended by company executives and
state officials, including Gov. Ned Lamont. Backed by
Stamford-based private equity firm Olympus Partners,
Pantheon Electric produces conductive metal compo-
nents used in electrical systems serving data centers,
renewable energy, industrial automation, aerospace
and transportation.
Lamont said companies like Pantheon Electric will
be important as Connecticut works to modernize
its electric grid and support rising demand from
energy-intensive facilities.
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