Executives from Citi Private Bank, one of the world`s largest private banks, visited the Westport Arts Center and other Westport locations today to get to know Westport. Leading the group was Peter Charrington (r), CEO of its North American business, responsible for all private banking activities in the United States and Canada. Pictured with him are (l-r) Patricia McDermott, managing director, Greenwich – Citi Private Bank; Paul Hubert, global market manager Eastern U.S. region – Citi Private Bank; Peter Van Heerden, Arts Center executive director, and Gene Miller, Arts Center board member. The game is part of the Arts Center’s current “Toy Stories” exhibit. (CLICK TO ENLARGE) Helen Klisser During for WestportNow.com

By Mark Pazniokas

www.ctmirror.org

Unemployment in Connecticut dropped for a sixth consecutive month in January to 8 percent, the lowest since April 2009. The state now has recovered 35,900 of the 117,500 non-farm jobs lost in the recession of March 2008 to February 2010.

The construction industry led the way in job growth, adding 3,200 of the 7,100 new jobs recorded for the month, but nearly every sector showed growth. A notable exception: government jobs continued to shrink for the month and year.

“The region’s mild winter appears to be helping job growth in Connecticut across many industries, including construction, manufacturing, and trade,” said Andy Condon, the director of research for the state Department of Labor.

Unemployment was 9.3 percent a year ago and 8.1 percent in December. The national unemployment rate is 8.3 percent.

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Workers today erected the Spotted Horse Tavern sign outside the new restaurant on Westport’s Church Lane. The eatery is expected to open within the next two weeks. (CLICK TO ENLARGE) Billy Nistico for WestportNow.com

Urban Outfitters, the newest addition to the Westport retail scene, held a “friends and family” reception tonight as a prelude to its official opening on Thursday at 101-107 Post Road East, across from the Old Town Hall.  The trendy clothing and accessories store has a second entrance on Church Lane across from the Family Y.  Other Urban Outfitters locations in Connecticut include two stores in Greenwich and one in New Haven. The Westport location was previously home to TD Banknorth. (CLICK TO ENLARGE) Dave Matlow for WestportNow.com

Connecticut Shake Shack fans will soon no longer have to travel to Westport to get their burger, hot dog, and frozen custard fix. The Danny Meyer-owned chain opens in New Haven in the fall.

The Shackburger is Shake Shack’s signature offering. (CLICK TO ENLARGE) Helen Klisser During for WestportNow.com

Shake Shack’s New Haven home will be centrally located at 986 Chapel St., across from the New Haven Green and kitty-corner to Yale’s Old Campus, the company announced today.

“My colleagues and I are proud to bring Shake Shack to New Haven,” said Meyer, CEO of Union Square Hospitality Group. “We are incredibly excited to establish roots in this food-loving, bustling city -– which some even say is the birthplace of the hamburger. New Haven is staging a thrilling urban renaissance and we are excited for the opportunity to join this community as employers and citizens.”

The New Haven Shake Shack will build upon the popular success of seven siblings throughout New York City –as well as locations in Miami Beach, Washington, D.C. Saratoga Race Course, N.Y, and Westport, which opened last July. Additionally, Shake Shack has locations in Dubai, UAE, and Kuwait City.

UPDATE An opening date of Thursday, March 8 has been set for Urban Outfitters, the trendy clothing chain, at 101-107 Post Road East with a second entrance on Church Lane across from the Family Y. (An earlier report said the date was March 7.) The store is part of the Philadelphia-based Urban Outfitters, Inc., which also owns Anthropolgie and four other brands, including Terrain which is under construction on the former Curran Cadillac site on Post Road East. The Westport Urban Outfitters location was previously home to TD Banknorth. (CLICK TO ENLARGE) Dave Matlow for WestportNow.com

Federal Reserve Governor Sarah Bloom Raskin addresses the Y’s Men today. (CLICK TO ENLARGE) Larry Untermeyer for WestportNow.com

Federal Reserve Governor Sarah Bloom Raskin, responding to a questioner at today’s Westport Y’s Men meeting, said abolishing the Federal Reserve as some have urged would “be a mistake” and a “huge step backwards.”

“My personal view is that would be a mistake,” she said before breaking into a smile as her answer drew loud laughter in the packed Westport Unitarian Church. “The Federal Reserve was put into place with a lot of thought, primarily a very hyper cyclicality preceded the creation of the Federal Reserve.

“And there was a sense that actually adherence to the gold standard was not in the long term interest of an institution building a kind of moderate –- and steering a moderate—path of growth in the economy.

“One thing that I say when I hear people argue for ending the Fed is ‘and then what? What would we put in place? What is the alternative here?’