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August 25, 2019Cart

Business

by Fairfield County Business Journal
by FCBJ

CT marks job growth in May; unemployment rate unchanged

Connecticut added 4,100 jobs in May, ending a two-month decline, according to the state Department of Labor.

Retail and financial services led the way in May, with both now ahead of last year’s pace, said Andy Condon, director of the DOL’s Office of Research.

The private sector grew by 4,300 jobs and has now gained back all the jobs lost (102 percent) in the recession. Overall, the state has recovered 81 percent of total jobs lost.

The unemployment rate remained unchanged at 4.5 percent and continued to lag the U.S. jobless rate, which was 3.8 percent in May.

“Certainly, the private sector is starting to grow at a moderate rate,” remarked Pete Gioia, economist at the Connecticut Business and Industry Association. “The biggest concern is that the labor force shrank again. We have so many good, well-paying jobs available, and we need a labor force to fill those jobs as rapidly as possible.”