Connecticut continues to lag behind U.S. recovery
Two major industry supersectors, which were among the hardest hit by the economic downturn, added 1,000 and 800 jobs as the state marks its sixth straight month of job gains, according to a report issued today by the Connecticut Department of Labor.
Manufacturing added 1,000 new jobs (0.6%) and the construction and mining supersector added 800 jobs (1.4%). Overall, Connecticut gained 2,400 net new jobs in July.
"The state of Connecticut had a mostly positive report on jobs," said Peter Gioia, economist for the Connecticut Business & Industry Association.
The unemployment rate dropped to 6.6%, but Gioia warned it might not be for a positive reason.
"The labor force participation, which had been positive in previous months, actually fell 6,300 jobs," said Gioia.
Only 64% of jobs lost during recession are now recovered, which remains behind the U.S. recovery (100%) and the recovery of neighboring Massachusetts (150%).
"Obviously if we were on par with U.S. rate of recovery, our job gains would be higher and our unemployment rate lower," said Gioia.
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