CT Dept of Labor: After A Strong Pace in 2022 Unemployment Rate Holds Steady; Job Growth Trends Slow
(Wethersfield, CT) – Connecticut Department of Labor (CTDOL) Commissioner Danté Bartolomeo today released December labor situation data showing that the state’s unemployment rate stayed steady at 4.2%. After 11 months of job growth, Connecticut payroll jobs declined 0.1% with December down 1,600 jobs. In November, the state added 2,900 jobs across the public and private sectors, however, the November survey week ran through election day and counted poll workers and other one-day jobs.
Commissioner Bartolomeo said, “As expected given action by the Federal Reserve, we saw Connecticut numbers moderate in December. In 2022, Connecticut added jobs faster than any pre-pandemic year since 1996—this strong growth created a historically high number of jobs available in the state and, with low unemployment, employers continue to be challenged by a smaller workforce. U.S. Treasury economic priorities and inflation are among the issues that we’re watching going into 2023.”
Connecticut currently has more than 100,000 jobs available and fewer than 30,000 people filing for weekly unemployment benefits. The state’s labor force participation rate remains more than 2% higher than the U.S. average labor force participation rate.
CTDOL Director of Research Patrick Flaherty said, “December was a complex month with Connecticut impacted by national issues including inflation and energy costs. Despite revisions, 2022 was a strong year for the state with the addition of 32,000 jobs, a declining unemployment rate, and total recovery of key industry sectors. As we look ahead to 2023, we expect to see strong growth in manufacturing and construction industry jobs due to state and federal infrastructure priorities such as transportation improvements and housing expansion.”
TOPLINE POINTS FROM THE REPORT
- Five of 10 industry sectors added jobs in December.
- There are 1,667,900 payroll jobs in Connecticut—up more than 32,000 from December 2021.
- December is always impacted by seasonal layoffs and volatility in employment.
- Manufacturing, Construction, and Transportation & Warehousing sectors are fully recovered from pandemic losses. With the exception of Finance & Insurance, other sectors are gaining jobs overall but have not yet hit 100% recovery.
- Connecticut has recovered 89.3% of the jobs lost during the pandemic. The private sector is 92.1% recovered.
- Government sector jobs dropped by 1,600 due to the November survey week including election day workers who are on payrolls for a very short time.
Director Flaherty comments on the December report:
The U.S. Bureau of Labor Statistics does not release a labor situation report in February. The January numbers and 2022 benchmarked numbers will be released on March 10, 2023. The labor situation for February will be released on March 23, 2023.