November Brings Third Straight Month of Job Gains

Connecticut added jobs for a third consecutive month in November, coinciding with a third straight month of labor force gains.

The state Department of Labor reported a net gain of 500 jobs for the month, bringing 12-month growth to 24,300 or 1.5%.

The labor force grew by 1,100 people in November, although the number of those working and looking for work was 13,600 fewer (-0.7%) than in November 2022 and down 37,800 (-2%) from pre-pandemic levels.

The unemployment rate increased one-tenth of a point to 3.6%—33rd in the country—while the labor participation rate remained unchanged at 64.1%, 22nd best of all states.

“CBIA president and CEO Chris DiPentima said the November report represented “modest growth that continues the positive trends of the past year.”

“We have 1.3 job openings for every unemployed person, and while we continue to see encouraging trends, it’s clear that job growth is not keeping pace with the demands of our economy,” he said.

‘Tailwinds’

Massachusetts leads the region in job growth over the last 12 months at 1.8%—matching the national growth rate.

Maine and Connecticut follow at 1.5%, with New Hampshire and Vermont at 1.3%, and Rhode Island down 0.2% since November 2022.

While Connecticut’s 3.7% hires rate is 38th best of all states, the voluntary quits rate is just 1.6%—second lowest in the country and a reflection of low turnover and workplace stability.

“It’s critical that we capitalize on these tailwinds to kickstart additional growth and unlock Connecticut’s economic potential.”

CBIA’s Chris DiPentima

DiPentima said that despite Connecticut employers experiencing continued high demand for products and services, finding skilled workers remains a significant challenge.

“In recent months, we have seen encouraging news about the housing market, population growth, and more college graduates staying in Connecticut to begin their careers,” he said.

“It’s critical that we capitalize on these tailwinds to kickstart additional growth and unlock Connecticut’s economic potential. 

“We must expand workforce development programs and enact solutions to tackle critical issues like childcare, housing, and affordability that will make Connecticut a more attractive place to live and work for all residents.”

Industry Sectors, Labor Markets

Four of Connecticut’s 10 major industry sectors added jobs in November, led by education and health services, where employment grew by 1,000 (0.3%).

Leisure and hospitality gained 800 positions (0.5%), followed by government (800; 0.3%), and manufacturing (300; 0.2%).

The other services sector was unchanged for the month.

Professional and business services led all declining sectors for the month, losing 1,200 jobs or 0.5%.

Employment in financial activities fell by 500 (-0.4%), followed by information (-300; -0.9%), construction (-200; -0.3%), and trade, transportation, and utilities (-200; -0.1%).

Just two of the state’s six major labor market areas saw job gains In November, with New Haven adding 1,600 positions or 0.5%.

Norwich-New London-Westerly gained 400 new jobs (0.3%).

Hartford-West Hartford-East Hartford posted a loss of 600 jobs (-0.1%), followed by Waterbury (-300; -0.4%), Bridgeport-Stamford-Norwalk (-300; -0.1%), and Danbury (-200; -0.3%).