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11/17/2022

CT Dept Of Labor: October Labor Report Shows Continued Job Growth And Pandemic Recovery

(Wethersfield, CT) – Connecticut Department of Labor (CTDOL) Commissioner Danté Bartolomeo today released October jobs data showing the state’s private sector added 1,100 jobs last month, bringing it up to 92.4% recovered from the pandemic and making 2022 a growth year to date for Connecticut. The unemployment rate rose 0.3% to 4.3%; however, unemployment claims remain at historic lows. Statewide, employers have approximately 100,000 jobs posted.

 

Commissioner Bartolomeo said, “Job growth, significant increases in labor market participation, and record low unemployment filing are indicators of Connecticut’s strong underlying economy. Some months are stronger than others, and Connecticut employers continued to add jobs in October, which is good news for job seekers. The change of seasons also brings employment changes, and we expect normal holiday fluctuations in the coming months. National challenges around inflation and interest rates are issues for Connecticut as well, and something economists continue to keep their eyes on.”

 

CTDOL Director of Research Patrick Flaherty said, “We are 10 for 10 in 2022. Connecticut employers have added jobs for 10 consecutive months and that’s good progress. In 2021, employers were still adding jobs at the end of the year, although the numbers had slowed. Connecticut may see a similar pattern in 2022, however, there are about 100,000 jobs posted now and that is quite high. The labor market is tight and employers are competing for workers.”

 

Connecticut has a 35-year low ~16,000 weekly unemployment filers. The labor market has added 50,000 new workers since December 2021 and the labor force participation rate remains above the national average.

 

 

TOPLINE POINTS FROM THE REPORT:

 

  • Overall, Connecticut is 89.4% recovered from the pandemic.
  • September job gains of 4,400 jobs were revised down slightly to 4,300 jobs gained.
  • Restaurants, ambulatory care, wholesale trade, and manufacturing are above pre-pandemic employment levels.
  • In October, four of 10 industry supersectors increased employment, one remained unchanged, and five declined employment.

 

Director Flaherty comments on the October report:

 

 

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