Connecticut jobs added
Posted on August 25, 2012
The number of Connecticut jobs has grown, according to the state’s labor department.
The Connecticut July 2012 total nonfarm job estimate increased by 5,100 or 0.3% to 1,633,200. Since July 2011, the state’s labor market has added 7,100 jobs, for 0.4% growth. This is the third monthly gain in 2012. The June preliminary estimate of a 1,400 (0.1%) job gain was revised to essentially flat (-100). The first seven months of 2012 have now produced job growth of 9,700 (1,386 average per month net), just below last year’s pace of 10,400 (1,486 average per month net).
Connecticut has now recovered 38,500, or 32.8%, of the 117,500 total nonfarm jobs lost in the March 2008 – February 2010 recessionary downturn. The private sector has now regained 48,300 (43.8%) of the 110,200 private jobs lost in that same recessionary period. Financial activities, other services, government, information, and now construction have continued to lose jobs even after the recovery began in February 2010. The current job recovery highpoint, which was reached during 2012’s record warm winter, is February 2012 (1,634,900) for Connecticut. Connecticut is just 1,700 jobs below this level (1,633,200) for July 2012.
Four of the six major Connecticut Labor Market Areas (LMAs) had job gains in July 2012; while one LMA declined and one was unchanged. The major Connecticut LMAs are estimated and seasonally adjusted separately from the statewide numbers. The Hartford-West Hartford-East Hartford LMA (2,500, 0.5%) led the LMAs in absolute growth over the month and the New Haven LMA had the best over the month percentage gain by a nose (1,700, 0.6%). The Bridgeport-Stamford-Norwalk LMA (2,200, 0.6%) had a strong overall showing this month as well. The Danbury LMA was the only LMA to lose jobs this July (-800, -1.2%) but still has the strongest percentage growth over the year (1,000, 1.5%). The Norwich-New London LMA was unchanged in employment this July but had two straight gains leading into July’s OpSail event in New London harbor. This LMA is the only major LMA to have lost jobs over the year (-3,000, -2.3%).
The workweek for employees in the private sector, not seasonally adjusted, averaged 34.0 hours in July 2012, up two-tenths of an hour from the July 2011 figure. Average hourly earnings at $27.94, not seasonally adjusted, are now down twenty-one cents, or -0.7% below July 2011. The resulting average private sector weekly pay estimate was $949.96, down $4.33, or -0.5% over the year. Information for the manufacturing production workweek and earnings can be found in the table section of this release under the “Hours and Earnings” data category.