State Posts Second Straight Month of Job Losses

11.19.2015
Economy

Jobs-Report_111915Connecticut posted four-digit job losses for a second straight month in October, eroding strong growth throughout the spring and summer.
The state Department of Labor today reported 2,200 jobs were lost for the month, following a decline of 4,800 in September (the department revised its initial estimate of 7,600 jobs lost for that month).
CBIA economist Pete Gioia said the latest numbers signaled that the state’s economy was still struggling to get on its feet.
“Year over year, the state has added 24,100 jobs but this labor report is disappointing,” Gioia said.
In contrast, Massachusetts added 11,000 jobs in October and has gained 62,800 positions over the last 12 months.
That state’s unemployment rate is 4.6%, the lowest in New England.
Connecticut unemployment fell one-tenth of a point in October, to 5.1%, the lowest its been since March 2008–the beginning of the recession.
The national unemployment rate is 5%.
Connecticut has recovered 84% of the 119,000 jobs lost in the recession, while the U.S. recovery rate is over 140%.
Labor department director Andy Condon said the consecutive months of losses “possibly indicates a softening of the strong growth we have seen through August of this year.”

CBIA economist Pete Gioia

This labor report is disappointing. We still have a lot of work to do.

Gioia emphasized that the latest employment report raises the urgency for state lawmakers to continue to develop a fiscally sound environment where business can flourish and thrive.
"We still have a lot of work to do," he said.
Half of the state's 10 major industry sectors posted gains in October, led by trade, transportation, and utilities, which added 1,000 positions, driven largely by retailers.
Information added 800 new jobs, followed by education and health services (400); financial activities (200); and leisure and hospitality (200).
The government sector reported the largest losses for the month, shedding 1,800 jobs, with local government losing 1,100 positions.
Professional and business services lost 1,100 jobs, followed by other services (-900); manufacturing (-800); and construction and mining (-200).
Employment rose in two of the state's four labor market areas, led by Bridgeport-Stamford-Norwalk, with 1,100 new jobs.
Hartford-West Hartford-East Hartford added 300 jobs and leads all areas with 8,900 new positions for the year.
New Haven lost 1,400 jobs in October and Norwich-New London-Westerly shed 200.

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