Manufacturing jobs in Connecticut added
Posted on July 4, 2016
The number of manufacturing jobs in Connecticut increased, according to the latest labor statistics.
May 2016 preliminary nonfarm job estimates indicate a 1,400 (-0.08%) monthly job loss, seasonally adjusted, as five of ten major industry supersectors added jobs.
Tallied from May 2015, the state is now estimated to have increased nonfarm employment by 13,900 positions (0.83%) over the year with nine of ten major industry supersectors providing broad-based job gains.
Through the first five months of the year, Connecticut has increased nonfarm jobs by 8,100. The employment gains in the first five months of 2015 were 5,800. Connecticut’s private sector employment at 1,449,300 was also lower in May by 2,400 (-0.17%) but is estimated to be higher by 14,700 jobs (1.02%, 1,225 jobs per month average) over the year.
The government supersector added 1,000 jobs (0.42%, 238,800 jobs) last month but remains the only declining major industry supersector (-800, -0.33%) since May 2015. Five of the ten industry supersectors gained employment in May 2016 while five declined (seasonally adjusted). Manufacturing (1,200, 0.8%, 160,900 jobs) led gainers.
The durable-goods production subsectors (800, 0.7%, 124,100 jobs), which includes defense and aerospace, have been growing lately. The government supersector (1,000, 0.4%, 238,800 jobs) was the next biggest job gainer for May, although the gain may have more to do with seasonal adjustment rather than significant job gains. The construction and mining (900, 1.5%, 60,000 jobs) supersector also added positions last month.
The building sectors have gained 2,400 jobs in the last two months. The financial activities (700, 0.5%, 132,500) supersector was up last month with gains from both finance and insurance (500, 0.5%, 111,700 jobs) and real estate (200, 1.0%, 20,800). The other services (400, 0.3%, 65,300 jobs) supersector produced a small monthly gain as well. Trade, transportation & utilities (-2,600, -0.9%, 297,600 jobs) led declining industry supersectors in May.
The retail trade (-2,700, -1.5%, 182,600 jobs) subcomponent was responsible for the entire monthly drop in this supersector. Education and health services (-1,400, -0.4%, 328,500 jobs) was also lower in job counts, led down by private education components (-800, -1.2%, 64,000 jobs) getting closer to the end of the school year.
This supersector still remains the largest in numeric job growth over the year (2,800, 0.9%). The small information industry supersector (-1,000, -2.9%, 33,600 jobs) posted a large loss in May which may have had some minor influence from the Verizon strike. The professional and business services supersector (-400, -0.2%, 218,700 jobs) posted a small job loss as well. The leisure and hospitality (-200, -0.1%, 152,200 jobs) supersector exhibited just a slight job decline.