Private-sector jobs up 0.2%
Despite a loss of more than 6,000 jobs last month, Connecticut's employment outlook remains good, says CBIA economist Pete Gioia.
"The underlying message was more positive than [the overall numbers] would imply," he explains, noting that the private sector actually gained 2,300 jobs in August, many of them in the construction and manufacturing sectors.
The unusually strong job increases we saw in July, he explains, reflected "seasonal factors in government, particularly local government." (The late-closing school year accounted for higher-than-normal employment in education.) Those numbers have since been revised down, as expected.
"Unfortunately, we do still see weakness in financial services," says Gioia, "and that's a concern going forward. But overall, we've added 14,300 jobs since the beginning of 2013. That's a positive sign; I think overall we're going to continue on a positive rate."