March 8, 2019

Report: CT added nearly 10,000 fewer jobs in '18 than expected

Photo | Contributed
Photo | Contributed
The construction and mining supersector led the state's job gains in January, according to the state Department of Labor.

State leaders were recently touting that Connecticut's economy grew by nearly 20,000 jobs in 2018.

It turns out companies added far fewer workers to their payroll.

The state Department of Labor (DOL) said Friday that an annual revision conducted by the U.S. Bureau of Labor Statistics (BLS) found that Connecticut only added about 10,000 jobs last year, or nearly half of what was originally estimated.

"The benchmark revisions, based on actual payroll jobs, show that we ended 2018 a lot different than we thought we would," said Peter Gioia, an economic adviser to the Connecticut Business & Industry Association.

Connecticut had 0.6 percent job growth in 2018, up from 0.1 percent in 2017 and 0.2 percent in 2016, Gioia said. However, the number is still behind the national average and neighboring Massachusetts (both at 1.8 percent for the year).

The revision also set back the state's recovery of jobs lost during the 2008-2010 recession. Connecticut has recovered just 84 percent of lost jobs and must gain another 19,300 to meet pre-recession levels, he said.

The state ended 2018 with a 3.8 percent unemployment rate, down from 4.6 percent in 2017.

As of Sept. 2018, revisions to the state's unemployment data has lowered its estimated job counts by 0.4 percent, DOL said.

CT adds 1,000 jobs in Jan.

DOL on Friday also reported that the state gained 1,000 net jobs in January. The state's unemployment rate remained unchanged at 3.8 percent.

Connecticut has more than 1.6 million seasonally adjusted jobs as the state's private sector experienced job gains in five of its 10 major industry supersectors.

Construction and mining led job growth adding 2,300 net jobs, up 3.7 percent, for a total of 63,700 jobs. The manufacturing sector followed with the addition of 600 net jobs.

Trailing sectors were leisure and hospitality (500 new jobs), education and health services (400) and information (300). Government sector employment was flat.

Leading job declines during the month were professional and business services with a loss of 2,200 jobs, down 1 percent, for a total of 217,300 jobs.

Another 500 jobs were lost in trade, transportation and utility and financial activities fell by 300 jobs.

The New Haven area led job gains with 1,800 net new jobs while the Hartford market lost 300 jobs.

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