Third Straight Month of Job Losses; Economic Growth Must Be Top Priority for Candidates
10.20.2016
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September’s jobs report is a critical reminder of the urgency needed to address the policy issues holding back Connecticut’s economy, the state’s largest business organization said today.
“We’ve now had three months in a row of job losses,” said CBIA economist Pete Gioia.
“Year over year, we’ve seen 12,800 jobs gained which is about 1,000 jobs per month.
“There are a lot of good things going on here in Connecticut and in our economy. Unfortunately, we still haven’t seen the across the board job gains we desperately need.”
Connecticut has only recovered 76% of all jobs lost during the Great Recession–slowest in New England.
Massachusetts leads the region at 304%. Maine, with an 84% recovery rate, is the only other New England state that has not regained all lost jobs.
The United States’ recovery rate is 173% as of September.
“We may now take over two more years to fully recover from the Great Recession, which is very problematic,” Gioia said.
Most sectors lost jobs during the month of September. However, jobs were added in three areas: trade, transportation, and utilities (1,200), professional and business services (900), and construction and mining (600).
Government lost the most jobs (-2,500) followed by leisure and hospitality (-1,500), other services (-1,300), education and health services (-1,100), financial activities (-900), information (-400), and manufacturing (-200).
“This emphasizes the fact that the economy must be job number one for candidates running for General Assembly,” said Gioia.
“Certainly, this is the type of performance that has got to be reversed by creating the kind of climate that encourages business investment and creates jobs in Connecticut.”
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“We’ve now had three months in a row of job losses,” said CBIA economist Pete Gioia.
“Year over year, we’ve seen 12,800 jobs gained which is about 1,000 jobs per month.
“There are a lot of good things going on here in Connecticut and in our economy. Unfortunately, we still haven’t seen the across the board job gains we desperately need.”
Connecticut has only recovered 76% of all jobs lost during the Great Recession–slowest in New England.
Massachusetts leads the region at 304%. Maine, with an 84% recovery rate, is the only other New England state that has not regained all lost jobs.
The United States’ recovery rate is 173% as of September.
“We may now take over two more years to fully recover from the Great Recession, which is very problematic,” Gioia said.
Most sectors lost jobs during the month of September. However, jobs were added in three areas: trade, transportation, and utilities (1,200), professional and business services (900), and construction and mining (600).
Government lost the most jobs (-2,500) followed by leisure and hospitality (-1,500), other services (-1,300), education and health services (-1,100), financial activities (-900), information (-400), and manufacturing (-200).
“This emphasizes the fact that the economy must be job number one for candidates running for General Assembly,” said Gioia.
“Certainly, this is the type of performance that has got to be reversed by creating the kind of climate that encourages business investment and creates jobs in Connecticut.”
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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CBIA IS FIGHTING TO MAKE CONNECTICUT A TOP STATE FOR BUSINESS, JOBS, AND ECONOMIC GROWTH. A BETTER BUSINESS CLIMATE MEANS A BRIGHTER FUTURE FOR EVERYONE.