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August 15, 2024

DOL: Job market in CT remains strong as unemployment drops again

JESSICA BRAVO / CT MIRROR Danté Bartolomeo, Connecticut Department of Labor commissioner, speaking at a press conference.
By Andrew Larson

The job market in Connecticut remains strong, as employers added about 700 new jobs in July and the unemployment rate dropped to 3.6%, a 0.3% decline, according to the Department of Labor’s labor report released Thursday.

The national average unemployment rate is 4.3%. 

“Overall, the data points to a strong economy with low unemployment and tens of thousands of job opportunities across industry sectors…” DOL Commissioner Danté Bartolomeo said. “In July, overall job growth was slower than in previous months, but well into positive territory; this year may follow the new trend of strong early year growth that flattens by the end of the year.”

Connecticut has 13,000 more people working than it did in July 2023, and it has a labor participation rate of 64.4%. 

The DOL’s director of research, Patrick Flaherty, said that while inflation is still a concern, over the past year, Connecticut’s wages have increased faster than consumer prices.

Since July 2023, private sector wages are up 4.5% – higher than the 2.9% rise in inflation during the same time, according to the DOL.

The number of jobs added in 2024 through July, including the private and government sectors, is 18,600 – a 105.4% recovery since the pandemic shutdown.

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