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March 24, 2016

State unemployment rate remains steady

PHOTO | Contributed Stanadyne engineer Angie Cheung (foreground) uses a microscope to examine a fuel-pump component

The state’s unemployment rate for February was 5.5 percent based on preliminary figures released today by the U.S. Bureau of Labor Statistics. Connecticut still lags behind the national rate of 4.9 percent.

The unemployment is unchanged from the January 2016 revised rate, and down half a percentage point from the February 2015 unemployment rate of 6.0 percent. Year over year, the number of the state’s unemployed residents has fallen by 9,768, or 8.5 percent, according to the state Department of Labor.

“Nonfarm jobs grew briskly in February, but it is important to note that some of that growth was a rebound from vacation-affected declines in education that occurred January,” said Andy Condon, director of the labor department’s office of research. “In hindsight, January was likely a bit better than we were able to report and actual growth in February may be a little more moderate.”

Preliminary nonfarm job numbers from the BLS business survey estimate that Connecticut added 4,200 nonfarm jobs (0.25 percent) last month, growing to a seasonally adjusted total of 1,685,400. In addition, January’s initially reported gain of 900 jobs was revised upward to 1,200.

The state has increased nonfarm employment by 15,800 positions (0.95 percent) since February 2015. Nine of ten major industry supersectors have increased employment over the year, with just the government supersector posting an employment decline (-1,900).

Read more

CT adds 3,500 jobs; unemployment down slightly

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