CBIA Reaction to August 2021 Employment Report

The state’s largest business organization issued the following response to today’s release of the August 2021 employment report.

“The August jobs report, with growth across multiple sectors, is welcome news for Connecticut’s pandemic recovery,” CBIA president and CEO Chris DiPentima said today.

“We’ve now recovered 69% of the 292,400 jobs lost to COVID shutdowns and restrictions, with key sectors like manufacturing, professional and business services, and financial activities posting gains last month.

“However, employers are faced with a frustrating riddle. We have a record number of unfilled job openings, yet there are 91,000 fewer people working than in February last year and the unemployment rate is two percentage points higher than the national average. 

“Employers are trying everything—higher pay, expanded benefits, sign-on bonuses, flexible work policies—and only making incremental gains.

“While the country is on track to recover all COVID job losses in nine months, Connecticut is looking at 21 months to regain those jobs.

“We cannot rebuild Connecticut’s economy without solving this problem, which will require a broad, collaborative approach between the private and public sectors.

“Federal unemployment benefits expired Sept. 4. Next month’s employment report will reveal the impact that will have and what additional steps must be taken to get people back to work.”

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 Ali Warshavsky (860.244.1929).