Home Economy Unemployment at lowest rate since 2009

Unemployment at lowest rate since 2009

The unemployment rate in Connecticut dropped to 7.9 percent in October, according to the most recent labor report. The rate is the lowest since the employment recovery began in February 2010.

The rate decreased by one-tenth of a percentage point in both October and September, from 8.1 percent in August.

The unemployment rate hasn’t been below 8 percent since April 2009. Over the last year the state has added about 10,000 nonfarm jobs and decreased its unemployment from 8.4 percent in October 2012.

Due to the federal government shutdown, the release of September’s labor reports were delayed and added to October’s data release.

Roughly 4,100 jobs were lost in September, led by cuts in leisure and hospitality, financial activities, business services and manufacturing.

By comparison, the labor market remained flat in October, losing just 100 positions. All of the losses came from the government sector, while the private sector added 1,000 new jobs.

Of the 121,200 nonfarm jobs lost in the recession, the state has recovered roughly 49 percent, or 58,900 jobs. Over the 44-month recovery, the state has added an average of 1,339 positions per month.


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