Log In


Reset Password
  • MENU
    Local
    Friday, April 19, 2024

    Labor experts: Connecticut continues slow growth

    From July to August, the state gained 1,100 net jobs and the employment rate dropped from 4.4 to 4.3 percent, according to data the Connecticut Department of Labor released on Thursday. The national unemployment rate is 3.9 percent.

    The Norwich-New London-Westerly labor market area lost 200 jobs over the month, according to estimates from the federal Bureau of Labor Statistics. But it gained 1,500 jobs since last August, a 1.2 percent increase that gives the region a rank of third out of nine areas for year-over-year growth.

    "After dips in March and April, we have now seen four straight months of employment gains in Connecticut," Andy Condon, director of the Department of Labor's Office of Research, said in a news release. "On an annual basis, the construction, manufacturing, education & health services and leisure & hospitality sectors are all showing good growth. However, financial activities, a traditional employment foundation in Connecticut, continues to show some weakness."

    Education and health services saw the most new jobs in August, at 1,000, while construction had the largest percent increase, at 0.8 percent.

    Private-sector employment grew by 1,900 while the government "supersector," which includes public higher education and casino employment on tribal land, saw a loss of 800 jobs.

    The trade, transportation and utilities supersector saw a loss of 900 jobs.

    Overall, the state has recovered 88.5 percent of the 119,100 jobs lost in the Great Recession.

    Don Klepper-Smith, chief economist and director of research with DataCore Partners, said it's hard to make a case for "good growth" when Connecticut is the only New England state below 100 percent recovery.

    He estimates that Connecticut is not likely to see full job recovery until sometime in late 2019. In a word, he characterized the August numbers as "average."

    "CT's labor markets are 'treading water' at this point with no discernible strength per se," Klepper-Smith wrote in his newsletter.

    e.moser@theday.com

    Comment threads are monitored for 48 hours after publication and then closed.