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April 2005 — Vol. 83, No. 3

State revises 2004 job growth figures upward, reports job losses in January 2005

 

Revised monthly employment figures for 2004 show Connecticut added 22,500 jobs that year — significantly more than the number previously estimated,* according to the state Labor Department.

“I am encouraged by the revised jobs report for 2004,” says Gov. M. Jodi Rell. “It shows that we are on the road to recovery and that jobs are being created. However, January’s numbers show that that road may continue to be a rocky one because Connecticut’s economy remains fragile.”

Connecticut’s nonfarm employment in January 2005 was 1,661,200 — a drop of 3,400 jobs from the revised December figure.

“The new employment figures for last year have been completed and reveal a noticeable upward trend for the state,” says state Labor Economist John Tirinzonie. “Our annual revisions confirm that the state added 22,500 workers to its employment levels during 2004, rather than the 8,400 originally reported. As a result, the monthly ups and downs in employment levels that we originally saw are now showing 12 consecutive months of job gains between December 2003 and December 2004. While this is welcome news for the state’s economy, January 2005 figures seem to add a bump in what was a rather smooth ride over the last year,” he says.

Job increases (seasonally adjusted) were reported in:

  • leisure and hospitality services, up 700
  • government, up 500
  • information, up 200

Job losses (seasonally adjusted) were reported in:

  • trade, transportation and utilities, down 2,000
  • professional and business services, down 1,700
  • construction, down 400
  • manufacturing, down 300
  • financial activities, down 300

Job losses (not seasonally adjusted) were reported in:

  • educational and health services, down 5,400
  • other services, down 1,200

    * The revision is based on the unemployment rate, which is determined largely by a household survey that measures the work status of Connecticut residents. The earlier estimate was based on monthly surveys of businesses that measured the number of jobs in the state.

 

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