Connecticut jobs added

Posted on April 30, 2012

According to labor market information, Connecticut jobs have been added.

Year-over-year job growth is accelerating to 0.7% in January 2012 from 0.5% in December 2011. The recently revised seasonally adjusted employment estimates confirm that Connecticut is making its way beyond this generational downturn.

Recently revised seasonally adjusted nonfarm job numbers
show that Connecticut has gained back 35,900 (30.6%) of the now 117,500 jobs (was 119,200) lost in the somewhat newly defined downturn. This recessionary job loss was 6.9% of total nonfarm employment for the state (6.4% for the U.S.). The revised data for Connecticut now point to February 2010 as the new end to 23 months of
job loss that began in March of 2008 when nonfarm employment peaked at 1,712,200. The previous bottom was designated as January 2010. Since that time the Nutmeg state has been on a slow and sometimes unsteady
path to job recovery, lagging modestly behind the national employment recovery (36.1% vs. 30.6% of lost jobs recovered).

The newly revised jobs data show that the new high-water mark in this recovery was April 2011 at 1,631,100 jobs for Connecticut. Connecticut was outpacing the national recovery, but due to relatively large declines in the government sector.

State government retirements, local government layoffs and declines in tribal employment all contributed. Two major storms hit the state last fall, resulting in significant though temporary workforce impacts.