2016 Job Numbers ‘Hugely Disappointing,’ Early January Figures Offer Hope
Through January, Connecticut has recovered 75% of the jobs lost during the 2008-2010 recession, the slowest growth of any New England state.
“The news for January is quite positive and mirrors at long last what we’ve been seeing on the federal level,” said CBIA economist Pete Gioia.
Gioia noted that Connecticut was the only New England state not to add jobs in 2016, with growth in neighboring states ranging from 0.6% to 1.8%.
Massachusetts added 56,000 jobs in 2016, or 1.6%, while New Hampshire saw 1.8% growth. The United States saw 1.6% job growth in 2016.
Massachusetts has recovered more than 300% of jobs lost in the recession, leading all New England states.
Gioia said that early last year forecasters predicted Connecticut would add a minimum of 12,000 jobs in 2016.
“This is hugely disappointing,” said Gioia.
“This shows that we still have a critical problem in the economy in terms of job creation.
“Part of that is meeting the demand for jobs that go begging and part of that is just getting the economy moving again.
“Policymakers at the Capitol should do everything they can to encourage companies to grow, expand, and add jobs here in the Connecticut.”
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 email or call Meaghan MacDonald (860.244.1957).
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