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September 21, 2019Cart

Business

by Fairfield County Business Journal
by FCBJ

Connecticut shed 100 jobs in July

Connecticut lost 100 net jobs in July to a level of 1,692,700 seasonally adjusted, according to new data from the state’s Department of Labor, which also revised the 1,400-job loss in June to an 800-job loss. As a result, Connecticut’s June unemployment rate is at 3.6%, seasonally adjusted, one-tenth of point below the revised June level.

Private-sector employment fell by 700 to 1,457,800 jobs over the month in July, and now up by 5,600 seasonally adjusted jobs over July 2018. The government supersector grew in July by 600 but remains down 2,400 jobs over the year.

Within Fairfield County, the labor market in the Bridgeport-Stamford-Norwalk corridor in July saw an increase of 1,100 jobs and the Danbury area saw no statistical change from the previous month.

“July’s payroll employment was essentially flat to June’s,” said Andy Condon, director of the Office of Research at the Connecticut Department of Labor. “It’s important to recognize that there is plenty of hiring activity even if net growth is very small. For example, the latest available data show that during the fourth quarter of 2018 it took 76,000 hires and 71,000 separations in Connecticut to produce a net change of 5,000 jobs.”

Pete Gioia, economic adviser with the Connecticut Business and Industry Association, observed that Connecticut continued to lag behind the region and nation in job creation.

“For the year, Connecticut is down 0.2% while Massachusetts is at 0.9% job growth and the U.S. overall is at 0.8% growth,” he said.

Gioia also observed the decline in Connecticut’s unemployment rate was connected to a shrinking labor force, which declined by 1,700 people in July and by 14,900 people since the beginning of the year.

“Overall, we still have a great deal of challenges that must be addressed,” he said.