Connecticut saw the disappearance of 1,200 net jobs in July to a seasonally adjusted level of 1.69 million, according to new data reported by the state”™s Department of Labor. The job gains of 6,100 originally reported in June were revised down to 5,300 over the month, and the number of the state”™s unemployed residents was estimated at 82,800, seasonally adjusted down 1,100 from June. Connecticut”™s July unemployment rate remained unchanged at 4.4 percent.
Over the year, nonagricultural employment in the state grew by 16,600 jobs, a 1 percent uptick from July 2017. Private sector employment fell by 1,000 to 1.46 million jobs over the month in July, but grew by 20,400 seasonally adjusted jobs over the year. The government supersector ”“ which encompasses federal, state and local employment, plus public higher education and casino employment on tribal lands ”“ recorded a loss of 200 in July to a total of 227,800, with over-the-year losses at 3,800 or a 1.6 percent decline.
“July”™s decline of 1,200 jobs does not materially affect the growth we have seen to date this year,” said Andy Condon, director of the DOL’s Office of Research. “Our three-month average job growth remains strongly positive. On a percentage basis, construction and manufacturing remain the fastest-growing sectors in the state”™s labor market.”
However, Pete Gioia, economic adviser for the Connecticut Business & Industry Association (CBIA), was somewhat less enthusiastic. “We take three steps forward, and then one step back,” he said. “There”™s no consistency or stability month-to-month with our jobs numbers, and that”™s what we really need to see for long-term growth in the economy.”
Gioia added that the 1 percent year-over-year job growth was “good compared to what we”™ve seen in the past, but when compared to the U.S. and other northeast states, we still lag behind. Moving forward, the economy and jobs should be the top priority of all candidates and policymakers.”
