CT Dept. of Labor: Unemployment Rate at a 3-Year Low; Broad Job Gains Across Industry Sectors Despite April Decline
(Wethersfield, CT) – Connecticut Department of Labor (CTDOL) Commissioner Danté Bartolomeo today released the April 2023 Labor Situation report indicating that the state’s low unemployment rate has dropped further to an estimated 3.8%. As expected, the strong January and February 2023 job gains were indicators of early hiring; March and April seasonally adjusted job numbers declined as a result. While the state is currently averaging approximately 2,800 job gains per month, seasonally adjusted, April saw estimated declines of 900 positions and March was revised down to a 1,700 jobs decline. Connecticut has gained a total of 11,300 jobs since December 2022.
Commissioner Bartolomeo said, “The April jobs report highlights the resiliency of our economy. We see broad job gains across industry sectors—healthcare, education, government, professional services, arts, and more. Whether these gains are 100 jobs or 500 jobs, they demonstrate the wide scope of hiring going on throughout Connecticut and are evidence of continued economic stability. With the summer tourism season getting underway, economists are keeping an eye on the hospitality sector. Restaurants continue to do very well, however, reduced business travel is clearly having an impact on Connecticut’s hotel industry. Inflation may be playing a role there, and we expect that to continue.”
Director of CTDOL Office of Research Patrick Flaherty said, “Industries that saw declines in April were industries that had big gains earlier this year—those sectors frontloaded their hiring. Particularly in construction and landscaping, early hiring was enough to impact sector numbers this spring. This was an unusually warm winter overlaid on pandemic recovery. Despite these ups-and-downs, Connecticut’s economy is steady and stable with several industries above pre-pandemic job levels. We continue to watch inflation and other national issues, but these March and April numbers will likely smooth out with more months of data.”
According to the latest Bureau of Labor Statistics data, 60,000 people in Connecticut were hired into new jobs in March; state employers had ~104,000 jobs available. Connecticut continues to see very low benefits filing with fewer than 20,000 weekly unemployment claims.
TOPLINE POINTS FROM THE REPORT:
- The private sector is 97.5% recovered from the pandemic shut down. Overall, Connecticut has recovered 95.5% of the jobs lost in March – April 2020.
- In 2023, Connecticut averaged gains of 2,800 jobs per month. In 2022, the state averaged gains of 2,200 jobs per month. From January 2010 through February 2020, the state averaged gains of 800 jobs per month.
- Construction is 105% recovered from the pandemic even with recent declines.
- Administrative & Support Services is up 5,000 jobs even with declines.
- Employment in the restaurant industry has fully recovered from the pandemic. In 2019, the industry had 103,800 jobs (not seasonally adjusted), in April 2023, it had 104,200 jobs (not seasonally adjusted).
- Hotel employment is down. This decline may be driven by lower business travel due to inflation and technology improvements that allow remote meetings and conferences.
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For Immediate Release: May 18, 2023
CTDOL Communications Unit
200 Folly Brook Boulevard, Wethersfield, CT 06109-1114
Email: CTDOL.Communications@ct.gov | https://www.ct.gov/dol