Trade jobs in Connecticut grow
Posted on May 3, 2016
New employment statistics posit that trade jobs in Connecticut are growing.
|Connecticut added 300 jobs (0.02%) in March 2016 to a level of 1,685,600, seasonally adjusted. Establishment job gains now measure 15,000 (0.9%, 1,250 per month) since March 2015.
The original release of a 4,200 job gain for February 2016 was slightly lowered to 4,100 (0.24%) on usual revisions. Year-to-date estimated statewide nonfarm job gains for the first three months of 2016 total 5,600, compared to the 2,200 added last year during the frigid first quarter of 2015.
The statewide seasonally-adjusted unemployment rate was calculated at 5.7% (based on the Current Population Survey of households) for March 2016. This is higher by two-tenths of a percentage point from the February 2016 revised rate of 5.5%, but down two-tenths of a percentage point from the March 2015 unemployment rate of 5.9%.
Over the year, the number of the state’s unemployed residents has fallen by 4,367 (-3.9%), but they did rise in March 2016 (3,064, 2.9%) to 107,575. Last month, the statewide labor force expanded back above the 1.9 million mark (1,901,906) for the first time since February 2015.
“Although the rise in the unemployment rate this month was unexpected, there are some positive aspects to the move,” said Andy Condon, Director of the Office of Research. “The rise in unemployment occurred in a growing labor force, meaning it was driven by more people entering the labor market looking for work rather than a decrease in the number of employed. Job growth is occurring, but not fast enough to employ all of those recently entering the market.”