Home Economy Connecticut reports 1,400 lost jobs in April

Connecticut reports 1,400 lost jobs in April

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Connecticut lost 1,400 jobs in April 2018, according to data from the state’s Department of Labor, which also revised its March employment figures from 2,000 jobs lost to 3,500. As a result of the revised figure, the state’s unemployment rate remained unchanged at 4.5 percent.

The state shed 1,200 private sector jobs, with the greatest losses in the financial sector and construction, while there were 200 less government sector jobs by the end of April. The industries that saw the greatest employment activity were leisure and hospitality (800 new jobs), education and health services (500 new jobs) and manufacturing (300 new jobs).

“April’s decline of 1,400 jobs was Connecticut’s second consecutive month of job declines,” said Andy Condon, director of the Office of Research. “However, job growth remains ahead of last year’s pace. Of note is that the manufacturing employment is now up 2.8 percent over the year. If this pattern holds, the sector will have overcome a decades-long trend of declining employment.”

However, Pete Gioia, economist with the Connecticut Business and Industry Association, was not satisfied. “We now have two months of bad news, after four months of growth,” he said. “Our unemployment rate is now tied with Rhode Island for the region’s highest, but the difference is that Rhode Island is adding jobs.”

Gioia said the state’s labor force has also lost 24,000 participants over the year, while recovereing 78 percent of the jobs lost in the recession. “We know there are job vacancies, so a decline in the labor force is alarming,” he continued. “Finance and insurance lost 700 jobs this month and that’s a concern. You can’t have a full jobs recovery without finance.”

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