(Wethersfield, CT) – Today, Connecticut Department of Labor (CTDOL) Commissioner Danté Bartolomeo released the final monthly labor situation for 2024. According to the report, Connecticut employers added an estimated 5,100 jobs in December and the unemployment rate remained at a 23-year low of 3.0%. November gains were revised to 1,800 jobs added from the previously estimated 300 jobs added.
Commissioner Bartolomeo said, “December appears to have been a strong growth month. As did employers nationally, Connecticut employers added a significant number of jobs. In conjunction with November’s revised growth, this may signal that in 2024 the state broke out of the post-2020 pattern of a weaker end-of-year jobs report. Economic indicators remain strong and positive in Connecticut; however, we continue to watch the national economy—increases in inflation, energy costs, or other national pressures will negatively impact our economy.”
CTDOL Director of Research Patrick Flaherty said, “December job growth brought private sector jobs to a new high of 1,482,400—growth is always good news. This report also gives us a first look at 2024 as a whole. Jobs were up by 20,100 December-to-December, slightly faster than in 2023 when jobs declined in December. This was a strong end-of-year report.”
TOP LINE POINTS FROM THE REPORT AND LABOR MARKET INFORMATION:
- December private sector jobs were up an estimated 4,700; total jobs (public and private sector) were up an estimated 5,100.
- Connecticut employers added 20,100 jobs from December 2023 (this was an unusually low month) to December 2024.
- Employers have about 73,000 open jobs.
- There are 1,715,900 payroll jobs in the state.
- Connecticut’s Labor Force Participation Rate is 64.4%, up 0.3% last month. The national rate is unchanged at 62.5%.
- Retail trade was up 1,600 jobs in December; however, economists warn this sector is still on a slow downward trajectory.
- Despite considerable hiring, manufacturing overall appears to be down 100 jobs in 2024 due to the high number of retirements.
- Unemployment claims remain below 25,000, quite low by historical standards.
The January 2025 labor situation and 2024 Benchmark Report with final numbers is released on March 14, 2025; the regular monthly labor situation for February will be released on March 27, 2025.
#DOLDAILY videos with economist Patrick Flaherty:
#DOLDaily: Major takeaways from the December report
#DOLDaily: Looking forward to 2025: The 2024 benchmark and what’s new in 2025
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