CBIA Response to June 2022 Employment Report

The state’s largest business organization issued the following response to today’s release of the June 2022 employment report.

“Modest private sector job growth and a second consecutive month of losses in construction—often an early warning sign of an economic slowdown—highlight the need for comprehensive policy solutions,” said CBIA president and CEO Chris DiPentima.

“Connecticut’s year to date job growth is 0.9%, which is half the national rate and the second slowest in New England.

“Employers have the job openings—120,000 open positions—but the workers needed to meet record demand for their products and services are simply not there.

“Our labor force is down 49,500 since the beginning of the pandemic, or 9% of the national decline.

“If every unemployed person in the state was hired tomorrow, we’d still have a staggering 44,000 job openings.

“CNBC’s latest annual business climate report highlights the areas that must be addressed to help attract and keep residents in Connecticut.

“Connecticut’s cost of living is eighth highest in the country, the cost of running a business here is sixth highest, and the study ranked our economy 47th.

“Tax reform will make Connecticut more affordable, while regulatory reforms such as overhauling professional licensing requirements and easing workplace mandates will bring down business costs.

“And while the state has made welcome investments in workforce training programs,  outreach efforts are needed to raise awareness—especially to the unemployed/underemployed population—to get connected to these initiatives to develop the skills needed to fill open jobs.   

“Connecticut residents are more concerned than ever about the state’s economy and will be looking to those running for public office to show their support for these solutions and others that will make our state more affordable.”

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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).