State Gains Jobs, Lawmakers Urged to Keep Momentum Going
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Connecticut’s March jobs numbers show steady growth for the first quarter of 2017, an economist with the state’s largest business organization said today.
The state added 1,300 jobs last month, with February’s numbers revised from a loss of 1,600 jobs to a gain of 100. Unemployment ticked up one-tenth of a point to 4.8%.
“We’ve seen job growth in each month so far this year, and we’ve gained 1,600 net new jobs [0.1%] year over year,” CBIA Economist Pete Gioia said.
Gioia noted that in percentage terms, job growth remains the slowest of the New England states. National job growth is at 1.5% over the last 12 months.
He noted that the jobs added in Connecticut last month included industries known for well-paying salaries.
“Three key industries saw job gains last month—manufacturing, financial activities, and information—and those are all high-paying jobs and that’s very important,” Gioia said.
Connecticut has now recovered 77% of all jobs lost during the recession.
“Our job growth has improved, but it’s still behind that of other states,” Gioia said.
“We are moving in the right direction, and now it’s time to pick up the pace to catch up with regional and national growth.”
Gioia continued that the state must keep this momentum going.
“It’s important to continue to build and grow on these jobs gains,” Gioia said.
“A key way to do that is to pass a state budget that’s sound, that’s sustainable, and that has no new taxes to build business confidence and encourage investment in our state.”
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 Meaghan MacDonald (860.244.1957).
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