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November 19, 2009

CT unemployment rate rises to 8.8 percent

Although Connecticut's unemployment rate jumped to 8.8 percent in October, there was a bit of good news, as employers added 1,000 jobs during the month.

The state's nonfarm employment in October was 1,624,000, an increase of 1,000 jobs from the revised September 2009 figure of 1,623,000, the Connecticut Department of Labor announced today.

On a seasonally adjusted basis, however, Connecticut has lost 71,100 jobs since last October, pushing the state's unemployment rate up to 8.8 percent from 8.4 percent in September.

Nationally, the unemployment rate was 10.2 percent at the end of October.

"Despite the increase in the state's unemployment rate, there are some positive signs in Connecticut's economic indicators," said Salvatore DiPillo, the state department of labor's statistics supervisor. "While a gain of 1,000 jobs is welcome news, even more significant is the fact that initial claims for October, at 5,900, decreased by nearly 1,000 from the previous month and are now at their lowest level since last December."

In October, Connecticut's job gains and losses were divided among its ten major industry sectors. The state's most significant gains occurred in the leisure and hospitality sector, up 1,700 jobs, and in professional and business services, up 1,100 jobs.

The construction sector added 600 jobs and there was also growth in other services and government.

The trade, transportation and utilities sector lost 1,300 jobs while manufacturing was down 800 jobs, and the information sector's employment was off by 400.

Smaller losses were seen in financial activities and education and health services.


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