04/18/2024
CT Dept. of Labor: Employers Add 4.900 Jobs in March; Unemployment Rate Unchanged at 4.5%
(Wethersfield, CT) – Today, Connecticut Department of Labor (CTDOL) Commissioner Danté Bartolomeo released the March 2024 Labor Situation report showing that Connecticut’s employers added an estimated 4,900 jobs and the state’s unemployment rate held for a second month at 4.5%. February job numbers were revised to a 2,600 increase, bringing the 2024 first quarter total to an estimated 13,300 jobs gained.Commissioner Bartolomeo said, “The first quarter of 2024 has produced strong, broad-based job growth and three consecutive months of labor force expansion. It continues to be a competitive market for employers, but it’s providing important opportunities for workers who tend to be overlooked—especially people with disabilities and residents returning from incarceration, both are groups who typically face higher barriers to employment.”
CTDOL economist and Director of Research Patrick Flaherty said, “This was a strong jobs report that seems to follow the high early-year growth patterns of 2022 and 2023. Connecticut is mirroring the nation with high job growth, however, we expect the pace will slow somewhat as the Federal Reserve continues to address national issues including inflation and interest rates.”
TOPLINE POINTS FROM THE REPORT:
• Almost every industry is adding jobs. Leisure & Hospitality; Trade, Transportation & Utilities; Healthcare; Construction; and Manufacturing are among the gainers in March.
• Professional & Business Services saw a decline, likely due to a slowdown for temporary workers as companies compete for a full-time workforce. Landscaping is included in this sector and may have been impacted by a rainy March.
• CT has recovered 103.6% of jobs lost during the COVID shutdown.
• Total payroll is 1,709,100, up by 18,900 jobs from March 2023.
• Private sector payroll is 1,475,600, up by 16,400 jobs from March 2023.
• Employers added an estimated 5,800 jobs in January; 2,600 jobs in February; and 4,900 jobs in March.
Connecticut’s Labor Force Participation Rate is 64.6%, nearly two points higher than the national average of 62.7%. The state currently has ~ 25,000 unemployment filers. The next Labor Situation will be released on May 16, 2024.
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Media Contact:
CTDOL Communications Unit
200 Folly Brook Boulevard, Wethersfield, CT 06109-1114
Email: CTDOL.Communications@ct.gov | https://www.ct.gov/dol