CT Dept. Of Labor: Unemployment Rate Drops To 7.7%
(Wethersfield, CT) – Today, Connecticut Department of Labor (CTDOL) Interim Commissioner Danté Bartolomeo reported that the state’s unemployment rate dropped from 8.1% in April to 7.7% in May. Connecticut added 7,800 jobs last month and has recovered 63% (185,200) of the 292,400 jobs lost in March and April 2020. The same report also revised April job gains up from 500 to 1200.
Commissioner Bartolomeo said, “The economy continues to show improvement; the unemployment rate is down and so is the weekly claims activity. These are good signs that people are able —and feel safe enough— to return to work. May shows the largest drop in the unemployment rate that we’ve seen this year; as we head into summer, we’re optimistic that employers will continue to hire and the labor market will continue to recover.”
Four of the ten major industry supersectors had employment gains in May 2021, while six declined.
CTDOL Director of Research Patrick Flaherty said, “Jobs are up more than 18,000 in 2021 and while economic recoveries are uneven, the May job growth is really strong. So far, Connecticut has recovered 63% of the jobs we lost last March and April. By comparison, it took more than six years for Connecticut to recover 63% of the jobs lost during the Great Recession. The overall trends are positive.”
Highlights from the May jobs report:
- Education, business services, manufacturing, and the leisure and hospitality sectors showed job growth.
- Jobs have grown for five consecutive months with this month being particularly strong.
- Retail spending fell while leisure spending was up suggesting that people are shifting spending to restaurants.
- The projected economic outlook for fall 2021 and early 2022 is positive.
Director Flaherty video comments on the report:
#DOLDaily May 2021 Labor Report Major Takeaways
#DOLDaily May 2021 Labor Report Info and Trends