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Connecticut trade jobs climb

Posted on March 27, 2018

The newest labor statistics demonstrate that Connecticut trade jobs are growing.

The state gained 3,400 net jobs (0.2%) in January 2018, to a level of 1,689,000, seasonally adjusted. Over the year, nonagricultural employment in the state grew by 5,500 jobs (0.5%).

December’s 2017 originally-released job gain of 6,000 was revised down 300 by the BLS to a gain of 5,700 for the month. Note that this revision includes the 2017 annual benchmark. The number of the state’s unemployed residents was estimated at 86,800, seasonally adjusted, up 400 from December. As a result, Connecticut’s unemployment rate remained unchanged at 4.5% in January, seasonally adjusted.

Private sector employment grew by 3,700 (0.3%) to 1,458,200 jobs over the month in January, and by 9,300 (0.6%) seasonally adjusted jobs over the year. The government supersector lost 300 positions in January to a total of 230,800, and over-the-year losses were at -3,800 or -1.6%.

The government supersector includes all federal, state and local employment, including public higher education and Native American casino employment located on tribal land. Five of the ten major industry supersectors gained employment in January, while four declined and the Information supersector was unchanged. Trade, transportation & utilities led growing industries with 1,600 net new jobs (0.5%, 301,200 total jobs). Professional & business services was next with an increase of 1,500 jobs (0.7%, 220,800 total). Other services gained 800 (1.2%, 65,600).

Education & health services added 400 jobs (0.1%, 336,600 total) and financial activities contributed 200 net new jobs (0.2%, 128,000). The manufacturing supersector dropped 500 jobs in January (-0.3%, 163,300), though the supersector finished up in 2017 for the first time in many years.

The construction (-0.5%, 57,000) and government (-0.1%, 230,800) supersectors lost 300 jobs each in January. Finally, leisure & hospitality was off slightly, dropping 100 jobs (-0.1%, 154,500). Connecticut has now recovered 79.6% (94,800 jobs) of the 119,100 seasonally adjusted jobs lost in the “Great Recession” (3/08-2/10).

The job recovery is into its 95th month and the state needs an additional 24,300 jobs to reach an overall nonfarm employment expansion. The state’s private sector has now recovered 100% (111,700) of the private sector jobs lost in that same employment downturn.

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