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Setting records

The Big Bang theory has it that about 13.8 billion years ago an explosion marked the beginning of the expansion of the universe. The word we’re fixed on here is “expansion.” The American economy is experiencing an economic expansion, and as long as the expansion continues, investor confidence appears ready to hang on for the ride. Last week we witnessed new milestones as major stock market indexes continue to rise.

The S&P 500, a broad index of of stocks, crosssed over the 5,000 level for the first time ever. The S&P 500 rose for the 14th week out of 15 by last Friday’s close, something that hasn’t happened since Richard Nixon was in the White House in 1972. The Nasdaq Composite, a tech stock barometer, also climbed, continuing a winning streak for the 15th week that it hadn’t seen since 1997. So did the Dow Jones Industrial Average, a basket of 30 stocks. All three indexes ended the week with gains.

Investors have been buoyed by strength in the labor market — a job-growth report showing employers added 353,000 jobs — and by solid corporate earnings.

In Connecticut, the economic picture also remains positive, according to the Connecticut Business and Industry Association. Real GDP grew by 4.7 percent in the state in the third quarter last year, which was slightly below the national average of 4.9 percent but double the rate for all of 2022. In November, Connecticut’s Department of Labor reported job growh for the third month in a row. And in the Hudson Valley, private sector jobs rose to 809,800, an increase of 6,100, over the year that ended in December, according to the New York State Department of Labor. Two of the New York region’s private sectors — health care and social assistance — posted year-over-year growth of at least 5.2 percent, the department reported.

Yet we have another set of data points that don’t relate to any kind of metaphorical Big Bang expansion at all. In an economy hallmarked by steady growth, approximately one in four households in our local region struggles to make ends meet.

According to the Connecticut United Ways, in its 2022 Alice report, an acronym that stands for Asset Limited, Income Constrained, Employed, 25 percent of the households in Northwest Connecticut earn more than the Federal Poverty Level but less than the basic cost of living in the area. The basics include: housing, food, child care, health care, technology and transportation. The United Way in the Dutchess-Orange County Region, reported in 2021 that the same percentage — 25 percent — of households in Dutchess County fell into the Alice category.

There are economic and market reports that set records, reflecting positive growth and aspirations for a continued expansion — with chronic shortcomings in the mix. In 2023 there were 1,111 households on waiting lists for affordable rental housing in the 21 towns that comprise the Northwest Hills Council of Governments. It’s a similar story in Dutchess County, where, according to DATAUSA, 19.5% of the population was living with severe housing problems in 2022. From 2014 to 2022, the percentage expanded by 1.1%.

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Yerger Johnstone

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SHARON — Yerger Johnstone, former managing director in the mergers and acquisitions department at Morgan Stanley and a decorated veteran of the Vietnam War, died on April 19, 2026, in Chelmsford, England. He was 86.

Born in Mobile, Alabama, on March 7, 1940, Mr. Johnstone was the son of architect Henry Inge Johnstone, architect, and Kathleen Yerger Johnstone, the noted nature writer and civic leader after whom Alabama’s state seashell, Johnstone’s Junonia, is named. He graduated from Murphy High School in Mobile in 1958, received his bachelor’s degree from the University of the South at Sewanee in 1962, and earned his M.B.A. from the University of Chicago Booth School of Business in 1964.

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Richard R. Stover

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Born Aug. 25, 1938, in St. George, Vermont, he was the son of the late Floyd Irving and Hazel (Thompson) Isham, Sr. Following his high school years, he enlisted in the United States Navy and served from 1958 until his honorable discharge in 1961. Mr. Isham also served in the Vermont National Guard. On Aug. 11, 1990, in Dover Plains, New York, he married Nancy L. Cross. Mrs. Isham died on July 8, 2005.

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Pauline King Garfield

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EAST CANAAN — Pauline K. (King) Garfield, 94 of 77 South Canaan Rd. formerly of East Canaan, died Sunday May 24, 2026, at Geer Village. She was the wife of the late Duane Garfield who passed August 14, 2017. Pauline was born April 3, 1932 in North Canaan,in the former Geer Hospital. She was the daughter of the late Charles and Rose (Van Vlack) King.

Pauline spent her career at Becton Dickinson in Canaan, after being a stay-at-home mother for many years.She was employed at Becton Dickinson for 23 years. She enjoyed bus trips with her late husband Duane to the Casinos, spending time with her family watching the grandchildren grow up. Recently she made a comment to care givers that was “wait until I see that husband of mine for leaving me here, I am going to read him the riot act.” Over the years she enjoyed many crafts, but her favorite was crocheting gifts for everyone.

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Savannah Stevenson’s second act

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Savannah Stevenson as Mrs. Paroo and Elliott Andrews who plays Harold Hill in the nationally touring production of “The Music Man.”

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Sharing laughter, tears, music and dancing through stories that illuminate our common humanity touches us in a way that builds connection, empathy and genuine community.
— Savannah Stevenson

Savannah Stevenson has lived enough lives already to make most people feel lazy.

She grew up in Atlanta in a musical family, with a father who played “The Sound of Music” cassette tapes in the car and a mother who played hymns on the piano. She went to Carnegie Mellon to study musical theater, moved to New York afterward and, for a while, imagined a life onstage.

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