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Connecticut jobs lost

Posted on July 4, 2016

A number of Connecticut jobs were lost, according to the latest labor statistics.

Preliminary statewide nonfarm job numbers from the business payroll survey administered by the US Bureau of Labor Statistics (BLS) reveal Connecticut lost 1,400 jobs (0.08%) in May 2016 to a level of 1,688,100, seasonally adjusted. This is the first estimated monthly job loss in the state in 2016. Connecticut nonagricultural employment growth now is calculated at 13,900 (0.83%, about 1,158 per month) over the year. The original release of a 3,500 nonfarm job gain (0.21%) in April 2016 was revised slightly lower to a 3,200 (0.19%) job increase.

“Connecticut’s decline of 1,400 jobs in May follows a very slow month for job growth across the country,” said Andy Condon, Director of the Office of Research. “Our labor force saw small but equal percentage declines in both residents employed and unemployed, resulting in an unchanged unemployment rate.”

May 2016 preliminary nonfarm job estimates indicate a 1,400 (-0.08%) monthly job loss, seasonally adjusted, as five of ten major industry supersectors added jobs. Tallied from May 2015, the state is now estimated to have increased nonfarm employment by 13,900 positions (0.83%) over the year with nine of ten major industry supersectors providing broad-based job gains.

Through the first five months of the year, Connecticut has increased nonfarm jobs by 8,100. The employment gains in the first five months of 2015 were 5,800. Connecticut’s private sector employment at 1,449,300 was also lower in May by 2,400 (-0.17%) but is estimated to be higher by 14,700 jobs (1.02%, 1,225 jobs per month average) over the year. The government supersector added 1,000 jobs (0.42%, 238,800 jobs) last month but remains the only declining major industry supersector (-800, -0.33%) since May 2015. Five of the ten industry supersectors gained employment in May 2016 while five declined (seasonally adjusted). Manufacturing (1,200, 0.8%, 160,900 jobs) led gainers.

The durable-goods production subsectors (800, 0.7%, 124,100 jobs), which includes defense and aerospace, have been growing lately. The government supersector (1,000, 0.4%, 238,800 jobs) was the next biggest job gainer for May, although the gain may have more to do with seasonal adjustment rather than significant job gains.

The construction and mining (900, 1.5%, 60,000 jobs) supersector also added positions last month. The building sectors have gained 2,400 jobs in the last two months. The financial activities (700, 0.5%, 132,500) supersector was up last month with gains from both finance and insurance (500, 0.5%, 111,700 jobs) and real estate (200, 1.0%, 20,800). The other services (400, 0.3%, 65,300 jobs) supersector produced a small monthly gain as well.