Connecticut State Department of Labor Communications

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04/20/2023

CT Dept. of Labor: March Unemployment Rate Remains Low; Job Growth Moderates; Economic Indicators are Stable

(Wethersfield, CT) – Connecticut Department of Labor (CTDOL) Commissioner Danté Bartolomeo today released March 2023 labor data indicating that the state’s economy remains strong with economists monitoring national indicators such as inflation, interest rates, and instability in the banking sector. Connecticut’s unemployment rate is low and unchanged at 4.0%; the state’s employers added 1,100 jobs with more than half of the hiring happening across local, state, and federal governments—sectors that have lagged in pandemic recovery. 

Commissioner Bartolomeo said, “This is a solid jobs report. As expected, employers added jobs at a more modest rate than January and February, but it’s clear that this is still a very strong market for job seekers at all levels of their careers. With about 100,000 jobs posted in the state, hiring managers are challenged to recruit and retain workers. CTDOL has multiple options to help—Registered Apprenticeships provide on the job training; CTHires can bolster recruiting; and the American Job Centers can assist through onsite job fairs. We can help employers with recruitment through whichever strategy they prefer.”  

Connecticut continues to see very low benefits filing with fewer than 25,000 weekly unemployment claims. Following the national trend, the state’s quit rate remains high with about 31,000 workers leaving their jobs in February—most for other positions.


Director of CTDOL Office of Research Patrick Flaherty said, “The warm winter weather had a particular impact on construction hiring. Projects that normally shut down during the cold weather remained active throughout the season, which distorted the usual employment patterns we see in the spring. Of note in the March report: consumer spending appears to be shifting from retail to services and entertainment. This is good news for restaurants; that sector employment is currently above pre-pandemic levels.”


TOPLINE POINTS FROM THE REPORT: 

  • Administrative and Support Services added an estimated 2,300 jobs due in part to a big jump in employment for services to buildings and dwellings.
  • Pre-pandemic, the retail sector was in slow decline and appears to be back on that trend with consumers shifting spending to entertainment and services.
  • Not seasonally adjusted, restaurants added 4,000 jobs between March 2022 and March 2023. Payroll employment in both childcare and restaurants are slightly above pre-pandemic levels.
  • Overall, Connecticut has recovered 96.7% of the jobs lost during the pandemic shutdown.

VIDEO: Director Flaherty comments on the March 2023 report:

Employer assistance with CTHires, Registered Apprenticeship, and the American Job Centers may be found on the CTDOL website.

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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: April 20, 2023


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