CBIA Response to March 2023 Employment Report
The state’s largest business organization issued the following response to today’s release of the March 2020 employment report.
“March’s gains continue a positive start to the year, bringing year-to-date growth to 15,000 new jobs,” CBIA president and CEO Chris DiPentima said.
“Adding another 1,100 jobs—including 500 in the private sector—is encouraging, however we are not keeping pace with overall demand.
“Connecticut lost another 4,100 people from the labor force in March, with 12-month losses at 44,700 or 2.3%.
“That must send a signal to policymakers that now is the time to address the workforce crisis.
“Connecticut has 100,000 job openings—yet if every unemployed person was hired tomorrow, 24,700 positions would remain unfilled.
“It is critical that lawmakers address the factors driving the labor shortage with solutions that lower the cost of living, reduce the cost of doing business, expand housing options, and make child care more affordable and accessible for families.
“Connecticut has one of the highest rates of labor participation in the country, the third lowest voluntary quits rate, but also one of the lowest hiring rates.
“That underscores the challenges that our employers are facing as they look to meet the demand.
“Growing the labor force means growing the population and expanding access to meaningful career pathways for all communities and residents.”
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 Scott Beaulieu (860.244.1929).
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