CBIA Response to September 2024 Employment Report

The state’s largest business organization issued the following response to today’s release of the September 2024 employment report. 

“It’s concerning to see the positive economic momentum that highlighted the first half of the year has stalled with a second consecutive month of job losses,” said CBIA vice president for public policy Chris Davis. 

“The demand for workers remains strong, highlighted by strong gains in the professional and business services sector and the state’s low unemployment rate. 

“However, the falling unemployment rate is actually being driven by Connecticut’s shrinking labor force, which declined by 2,000 people in September—the fourth consecutive month of losses.

“Job openings are up 10% since February 2020, while the number of those working and actively looking for work fell by 30,600 over the same period—in stark contrast with what’s happened in most of the region and nationally.

“We must focus on the structural issues that predate the pandemic so we can grow Connecticut’s population, expand the workforce, and meet the demands of our economy.

“CBIA’s recently released Reimagine Connecticut policy pledge features solutions specifically designed to expand our workforce, grow our economy, and improve our quality of life.

“Voters face an important decision in this election. It’s essential that policymakers focus on expanding options for quality, affordable childcare, housing, and small business employee healthcare.”

CBIA is Connecticut’s largest business organization, with thousands of member companies, small and large, representing a diverse range of industries from every part of the state. For more information, please contact Scott Beaulieu (860.244.1929).