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September 17, 2019Cart

Business

by Fairfield County Business Journal
by FCBJ

CT added jobs in October; unemployment rate remained at 4.2 percent

Connecticut’s unemployment rate remained flat at 4.2 percent in October, even though it added some 1,500 jobs, according to the state’s Department of Labor.

Connecticut now has an estimated 1.7 million seasonally adjusted jobs and an estimated 80,000 jobless residents, figures that were unchanged from September, according to the Labor Department.

For October, the financial sector added the most jobs, with 900, while the professional and business services sector added 700 jobs. Manufacturing and government sectors – including federal, state and local employment – each added 300 jobs.

The trade, transportation and utilities sector lost 400 jobs in October, while other services lost 300 jobs and leisure and hospitality declined by 200 jobs.

The Labor Department also revised September’s 500-job decrease to a loss of 1,400.

For the year, nonfarm jobs have grown by 22,300, or 1.3 percent.

“A relatively quiet month in October offset losses we experienced in September,” said Andy Condon, the labor department’s director of the Office of Research. “Most employment supersectors are showing annual growth with the exception of the trade, information and government supersectors.”