Connecticut unemployment rate declines 5.6% for August

(AP Photo/Mike Groll)
(AP Photo/Mike Groll)

WETHERSFIELD, Conn. (WTNH) – – Connecticut’s number of unemployed citizens declined by 2,400 people in the month of August, according to a new report released by the bureau of Labor Statistics Monday.

According to the United States Bureau of Labor Statistics, Connecticut has been experiencing steady employment growth over the year. So far this year, Connecticut has averaged 1,550 new jobs per month which approximates 18,600 new jobs this year . This incline has put the state’s unemployment rate at three tenths of a point higher than last year.

Andy Condon, director of the office of research, commented on the steady job growth.

A relatively quiet month in Connecticut’s labor market as our employment rate continues to decline for the second consecutive month. However, July’s increase of 1,700 jobs was revised down by the Bureau of Labor Statistic to a loss of 800.”

On the down side, construction and mining have now been declining for three months, while the professional and business services supersector has declined after two months of growth. Financial activities, the manufacturing supersector, and the trade transportation and utilities sectors have all experienced small losses. All four of the Connecticut labor market areas had calculated gains in employment.

Connecticut has recovered 96,000 positions which is 81.1% of the 119,100 non-farming jobs that were lost during the recession. However, a total of 1,713,300 seasonally adjusted jobs are needed to enter an employment expansion which would require an additional 22,500 nonfarm jobs to be created.

On average,Connecticut employees are working five tenths of an hour less at 33.5 hours and are earning $1.04 more than last year. Despite the rises in employment, the number of the state’s jobless residents increased by 5.2%.

The next Connecticut Labor Situation release will be on Thursday, October 20, 2016 with the September 2016 data which can be found at www.ctdol.state.ct.us/lmi.

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