July Jobs Report for CT

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july jobs report for CT

 

July jobs numbers from the Connecticut Department of Labor were released last Thursday, August 16. While the state lost jobs last month, the unemployment rate remained unchanged at 4.4%.

Below are highlights from the July jobs report for CT, from the labor department’s Office of Research:

Job Loss 

  • Connecticut lost 1,200 jobs in the month of July (-0.1%) to reach a seasonally-adjusted level of 1,696,800 jobs.
  • Private sector employment fell by 1,000 jobs in July.
  • The government sector saw a loss of 200 jobs. This sector includes all federal, state and local employment including public higher ed and Native American casino employment on tribal land.
  • Andy Condon, director of the labor department’s Office of Research, stated “July’s decline of 1,200 jobs does not materially affect the growth we have seen to date this year.” Connecticut has now gained 16,600 jobs over the last 12 months – a 1% gain.

Unemployment

  • Connecticut’s unemployed residents was estimated at 82,000 for July, which kept the state’s unemployment rate unchanged at 4.4%.
  • Compared to 1 year ago, the unemployment rate was down two-tenths of a percentage point.
  • The U.S. jobless rate in July 2018 was 3.9%. That’s a half point lower than CT’s jobless rate.

Top Employment Sectors

  • 4 of Connecticut’s 10 top industry sectors gained employment in July, while 6 declined. Growth came from the Leisure & Hospitality, Education & Health Services, Construction and Information markets.
  • Condon also explained, “Our three-month average job growth remains strongly positive. On a percentage basis, construction and manufacturing remain in the fastest growing sectors in the state’s labor market.”
  • In addition to the Government sector, other sectors that experienced losses for the month included Trade, Transportation & Utilities, Professional & Business Services, Financial Activities and Manufacturing.

Recession Recovery

  • Connecticut has recovered 86.1% of the 119,100 jobs that were lost in the last recession, which lasted from March 2008 to February 2010.
  • The state’s private sector, however, has fully recovered from the recession. They have gained 109.7% (122,500) of the jobs lost during the 2008-2010 downturn.

Gains by Regional Market

  • Only 1 of the state’s 6 Labor Market Areas (LMAs) saw job increases last month. The New Haven LMA saw a gain of approximately 800 jobs.
  • Other LMA numbers were as follows – Hartford (-1,300 jobs); Bridgeport-Stamford-Norwalk (-300 jobs); Waterbury (-200 jobs); Norwich-New London-Westerly (-100 jobs); and Danbury (-100 jobs).

To read the full July jobs report for CT issued by the state’s department of labor, click here.