State’s Job Growth Rebounds in August
Connecticut’s job market rebounded in August following early summer losses, with employers adding 2,800 jobs for the month.
The state Department of Labor’s August employment report also revised up July’s previously reported 100-job loss to a gain of 1,600.
“The August jobs report for Connecticut was a welcome change,” CBIA economic adviser Pete Gioia said today.
“We saw nonfarm jobs grow by 2,800 and the unemployment rate remained at 3.6%. In addition, the July numbers were revised up by 1,600–all positive news.”
Gioia said the state has now recovered 83% of all jobs lost during the 2008-2010 recession, with the private sector at 103%.
“If this pace of job recovery continues, we will get to full recovery by early 2020.”
Connecticut’s job growth is flat for 2019, with New Hampshire leading the region with 1.6% growth, followed by Rhode Island (1.3%), Maine (1.1%), Massachusetts (1%), and Vermont (0.4%).
The U.S. has added jobs at a 0.8% rate through the first eight months of the year.
The state’s labor force also grew by 1,700 in August, the first monthly gain since January.
Through August, the labor force has shrunk by 13,300 people, a drop of 0.7%.
Six of the state’s 10 major industry sectors added jobs in August, led by leisure and hospitality, which gained 1,400 positions.
Other services added 900 jobs, followed by professional and business services (800), trade, transportation, and utilities (600), construction and mining (500), and government (300).
Financial activities was unchanged for the month.
Education and health services led all losing sectors, shedding 900 positions in August.
The information sector lost 600 jobs and manufacturing declined by 200.
Four of the state’s six major labor market areas saw gains in August, with Hartford employers adding 800 jobs.
Bridgeport-Stamford-Norwalk and New Haven each gained 600 jobs while Norwich-New London-Westerly added 100.
Danbury was unchanged for the month while Waterbury declined by 200 jobs.
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