CBIA Response to August 2022 Employment Report
The state’s largest business organization issued the following response to today’s release of the August 2022 employment report.
“August’s job numbers, along with the positive revisions to the July numbers, show growth in a number of key sectors,” CBIA president and CEO Chris DiPentima said.
“Our year-to-date job growth is 1.7%, which trails the national rate of 2.3%, highlighting the need for a greater focus on addressing those obstacles to a faster recovery.
“And while the unemployment rate jumped fourth-tenths of a point to 4.1%, that likely indicates that more people are now looking for employment opportunities.
“Addressing the worker shortage crisis is key to our overall economic recovery—Connecticut has 105,000 open jobs while our labor force has declined by 45,100 or 2.3% since February 2020.
“If every unemployed person in the state was hired tomorrow, employers would still need to fill another 27,200 open positions.
“The worker shortage is why CBIA is asking candidates for elected office to support our just-released Transform Connecticut policy recommendations, designed to open doors to opportunity for all residents.
“We must tackle the high costs of living and running a business, implement pathways to rewarding careers, and leverage the state’s many strengths to make our economy more vibrant, robust, and equitable.”
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).
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