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December 19, 2024

CT reverses job-loss trend in November

Erica E. Phillips / ct mirror The Connecticut state Capitol on Feb. 14, 2024.

Connecticut stemmed its job losses in the month of November  barely. 

The state Department of Labor on Thursday announced Connecticut added an estimated 300 jobs last month. 

The private sector added an estimated 800 jobs in November, while the government sector contracted by 500 positions. The state’s unemployment rate remains unchanged at 3%, which is a 23-year low, according to the DOL. 

A year ago, the state’s unemployment rate was 4.2%. The national unemployment rate is 4.2%. 

Meantime, October’s 300 net job losses were revised to a gain of 1,100 jobs, the DOL said. 

Through November, Connecticut has added 13,500 jobs in 2024.

“Connecticut’s economy is in good shape,” said state Department of Labor Commissioner Danté Bartolomeo. “We’re seeing sustainable job growth, a low unemployment rate, and a steady job market with opportunities for workers at all levels of their careers. While the indicators are stable, it’s worth noting that Connecticut’s economic expansion and the national economic expansion have largely stayed in sync; any risks facing the national economy due to policy or trade changes will certainly impact Connecticut as well."

There are 1,709,300 payroll jobs in the state, according to the DOL, while the labor force participation rate is 64.1%, unchanged from last month. The national rate is 62.5%.

Connecticut has about 73,000 jobs open.

Five of the 10 major industry supersectors increased jobs in November, while four declined and the information supersector was unchanged. 

The manufacturing sector has done considerable hiring, however it has remained flat overall due to the high number of retirements, according to the DOL. The finance activities sector is growing, up 2,100 jobs so far in 2024.

The six industry supersectors that increased employment or were unchanged in November 2024 included:

  • Educational and Health Services +1,000, 0.3%, 369,400
  • Financial Activities +500, 0.4%, 119,600
  • Construction and Mining +300, 0.5%, 63,100
  • Other Services +300, 0.5%, 64,700
  • Trade, Transportation & Utilities +300, 0.1%, 297,000
  • Information unchanged, 0.0%, 30,10

The four industry supersectors that fell in jobs in November 2024 were:

  • Professional and Business Services -900 -0.4% 218,600
  • Government -500 -0.2% 233,000
  • Leisure & Hospitality -400 -0.3% 156,000
  • Construction and Mining -300 -0.2% 157,800
     

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