October Jobs Loss Reverses Recent Trend

Connecticut lost 1,500 jobs in October, reversing a trend in recent months of positive employment gains, the state’s largest business organization said today.

The state Department of Labor reported the loss was largely impacted by a decrease in trade jobs, while September’s originally-released job gain of 3,600 was revised up by 1,100.

Only four of the 10 major industries gained employment in October, led by construction and mining (1.2%) and manufacturing (0.3%). Leisure and hospitality (0.2%) and information (0.6%) also experienced gains.

“It’s particularly important that manufacturing continued to gain jobs this month,” CBIA economic adviser Pete Gioia said. “We have seen manufacturing companies receive major contracts that will require thousands of new workers in the future. A continued gain in this area is absolutely vital.”

Despite growth in construction and manufacturing this month, there is still plenty of room for more growth, said Gioia.

Connecticut has now added 4,800 new jobs over the last 12 months, “which is a fairly tepid number,” Gioia explained. “We really need to see that number increase dramatically to continue the job gain trend of July, August, and September.”

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 Joe Budd (860.244.1951).