Connecticut State Department of Labor Communications

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03/23/2023

CT Dept of Labor: Employers Added 5,600 Jobs In February; Unemployment Up Slightly To 4.0%

 

(Wethersfield, CT) – Today, Connecticut Department of Labor (CTDOL) Commissioner Danté Bartolomeo released the February 2023 jobs report showing that Connecticut’s private sector added an estimated 5,600 jobs last month while January 2023 job growth was revised up to 8,800. The state’s unemployment rate increased by 0.1% to 4.0%.

 

Commissioner Bartolomeo said, “This is a particularly complicated economic environment—we’ve got good news in Connecticut with strong job growth in January and February and solid performance across other indicators—our unemployment rate is low and stable, the number of weekly unemployment filers is low, and in January, the state’s employers had 97,000 job openings posted. That said, the U.S. just had high profile bank failures that will certainly impact Connecticut in the months to come, and economists continue to watch inflation. Connecticut’s economy is strong and well-positioned to handle a slowdown, but we are not immune to national trends.”

 

Director of the CTDOL Office of Research Patrick Flaherty said, “Overall, this is a good jobs report showing continued economic growth and stability for Connecticut. The warm weather is most likely accelerating hiring that normally happens later in the spring. Additionally, the labor situation surveys took place prior to the bank failures so it may be a few months before we see those impacts on the state’s financial sector, employer expansion, or hiring.”

 

TOPLINE POINTS FROM THE REPORT:

  • Connecticut’s private sector has regained 99.3% of jobs lost during the pandemic shut down.
  • Overall employment, private and public sector combined, is 96.5% recovered.
  • Seven industry supersectors showed gains while three showed losses.
  • The state’s unemployment rate has been stable at 3.9%-4.0% for six months.
  • The voluntary quit rate in Connecticut remains high with 34,000 employees leaving their jobs in January, most going to new jobs.


Connecticut employers currently have 97,000 job openings, well above pre-pandemic levels. The state’s February labor participation rate, currently 64.7%, continues to be higher than the national average of 62.5%. Unemployment insurance weekly filings remain low at about 30,000.


The 2022 benchmark report, issued on March 10, 2023, indicated that state employers added 35,300 jobs from January 2022 to January 2023.

VIDEO: Director Flaherty comments on the February 2023 report:

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Federal funding supports many CTDOL programs in whole or in part. For a list of programs and their funding streams, please visit the federal funding page. 

 

For Immediate Release: March 23, 2023


Media Contact:
CTDOL Communications Unit
200 Folly Brook Boulevard, Wethersfield, CT 06109-1114
Email: CTDOL.Communications@ct.gov | https://www.ct.gov/dol