Connecticut boasts low employment rate
Posted on January 5, 2016
Connecticut’s labor situation is strong and many Connecticut jobs have been recovered.
The latest labor report shows that Connecticut’s private sector grew 5,200 jobs last month and has now recovered 113,400 of the 111,600 jobs that were lost during the Great Recession, bringing its recovery rate to 101.6 percent. In addition, the unemployment rate is at 5.1% – its lowest level since March 2008, before the start of the recession.
Governor Malloy said, “Today’s data shows that Connecticut’s private sector is continuing to grow from the 2008 recession – and we’ve hit yet another milestone. Our state’s businesses have shown strong growth this year, adding over 26,700 new jobs, while our unemployment rate is at a nearly eight-year low. We know that numbers can and may fluctuate from month to month, but what is undoubtedly clear is that we are making significant progress.
While we are proud of this new milestone and it’s a moment to celebrate, we cannot and won’t stop here. Everyone who wants a good paying job with good benefits should be able to have one.”
U.S. Department of Labor statistics show that over the past twelve months, Connecticut experienced the sixth largest decline in unemployment of any state in the nation. According to the most recent federal and state data, jobless numbers dropped from 6.3 percent in November 2014 to 5.1 percent in November 2015. That 1.2 percent decrease is among the largest nationwide.
“Our private sector businesses are seeing steady growth, and the data that we’re seeing is encouraging,” Governor Malloy said. “Looking ahead into 2016, I want to make it clear that we remain committed to working with employers to continue this momentum and expand opportunities for Connecticut workers. Progress is no doubt happening – and we intend to ensure it keeps happening.”