State loses 400 jobs in February; unemployment steady 

State loses 400 jobs in February; unemployment steady 



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Connecticut lost 400 jobs last month and its unemployment rate remains at 3.8 percent, essentially leaving Connecticut’s labor market unchanged from January, a Department of Labor official said in a report Thursday. 

The report also revised job numbers for January to reflect a loss of 2,500 jobs in that month, 1,000 more than initially indicated. 

“January’s final revision was sharply down from our preliminary release, partly due to the normal revision process as more data became available for the sample, and partly due to a correction to estimates on our construction supersector,” DOL Director of Research Andy Condon said i a press release. 

With the revisions, Connecticut’s employment has grown by 4,600 jobs over the last 12 months. . 

The number of the state’s unemployed residents was estimated at a seasonally adjusted 73,900 in February, unchanged from January. As a result, the state’s February unemployment rate is 3.8.

Professional and business services had the strongest gains with an increase of 800 jobs. The manufacturing supersector followed, adding 600 jobs. Information grew by 200 and government and other services added 100 positions. 

Trade, transportation and utilities shed 1,000 jobs, followed by education and health services with a decline of 600 jobs. The leisure and hospitality supersector shed 400 positions, while construction and mining fell by 200. 

The state has now recovered 80.7 percent, or 97,100 jobs, of the 120,300 jobs lost in the recession from March 2008 through January 2010. 

Some economists said the drops in the past two months and downward revisions of 2018 prove the state is not keeping up with the national recovery.  

"We’ve had some very troubling job numbers over the last two months," Joe Brennan, president of the Connecticut Business and Industry Association, said in a press release.

Connecticut’s recently released final 2018 employment numbers also made dramatic revisions, with the initial 19,000 job gain revised down nearly 50 percent to 10,000. The initial private sector gain of 23,100 jobs was revised down to 9,700, Brennan said.

"These numbers confirm that Connecticut is still mired in low economic growth and job creation, well below the national average and much of the New England region," Brennan said.

Brennan called on lawmakers to reject higher costs, mandates and regulations that stymie economic growth.

"Lawmakers should be alarmed by the fact that the national economy is growing and Connecticut has only gained back 80 percent of the jobs lost in the last recession, and they need to act accordingly,” Brennan said.

mgodin@record-journal.com
203-317-2255
Twitter: @Cconnbiz


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