53°
The state's unemployment fell in November by four-tenths of a percent to 4.7 percent, which is still slightly higher than the national average of 4.6 percent. The BLS had initially reported that Connecticut had lost 7,200 non-farm jobs in October, but has adjusted that number to 5,800. Overall the state has added 1,400 non-farm jobs in 2016, the BLS reports.
“Connecticut’s rapidly declining unemployment rate is welcome news,” said Andy Condon, Director of the Office of Research. “However, recent months of payroll job counts may indicate a significant slowing of the state’s job growth. While there are circumstances, such as demographic shifts, increased self-employment and growing out-of-state commuting, where these two movements can happen at the same time, we do not yet have data to support a definitive trend.”
The BLS report indicates that private sector employment increased by 1,200 jobs in November and remains up by 2,500 over the year, an overall increase of 0.2 percent for 2016.
The government supersector, which includes all federal, state and local employment including public higher education and casinos located on tribal land, grew 900 jobs in November but remains down over the year by 1,100, or 0.5 percent.
Retail showed no growth last month, but trade, transportation and utilities grew by 1,600 in November. Leisure and hospitality added 1,100 positions.
Education and health services grew by 700, the information supersector gained 400 jobs, and other services remained flat, the BLS reported.
Some sectors showed decreases in November. The construction and mining supersector lost 1,800 jobs, a decrease of 3.1 percent. Financial activities decreased by 400 jobs, manufacturing decreased by 300 jobs and professional and business services lost 200 jobs.
According to the BLS, the state has recovered 72 percent of the 119,100 seasonally adjusted jobs lost in the Great Recession. Job recovery is in its 81st month and needs to add an additional 33,400 jobs to reach an employment expansion.
The private sector has performed slightly better, recovering 86.7 percent of the 111,700 private sector jobs lost.
“This is positive news and we remain determined to continue to move in a direction that will encourage businesses to grow their employment base here in our state and attract out-of-state companies to move within our borders," said Gov. Dannel P. Malloy. "One of the ways we are going to accomplish this is by creating more structural stability within our state finances in order to create more predictability for businesses."
“I am committed to ending decades of bad financial practices in order to get the state’s fiscal house in order – this has been long overdue and we’ve made enormous progress on that front over the last several years, but there is more to be done. I look forward to working with our partners in the business community during the coming legislative session on giving Connecticut the predictability we need to make smart investments and continue creating good paying jobs with good benefits for the residents of our state.”
Click here to follow Daily Voice Fairfield and receive free news updates.
