06/24/2024
CT Dept of Labor: Employers Add 4,700 Jobs in May; Private Sector Employment at an All Time High
(Wethersfield, CT) – Today, Connecticut Department of Labor (CTDOL) Commissioner Danté Bartolomeo released the May jobs report showing that employers added an estimated 4,700 jobs last month. The unemployment rate dropped slightly to 4.3%. Private sector employment is at an all-time high with 1,476,100 payroll jobs in the state, up nearly 10,000 from the peak in December 2018 of 1,466,500 payroll jobs.
Commissioner Bartolomeo said, “This was a solid month with economic indicators continuing to move in the right direction. Connecticut employers are adding jobs and employers and consumers are benefiting from an improving national condition including a lower inflation rate, more stability in consumer prices, and, while it’s been predicted month over month, no signs of recession. The Connecticut economy appears to be following the new trend set after 2020 with strong early year growth that moderates at the end of the year.”
Connecticut payroll employment is now at 104.3% of pre-pandemic employment and is following a national jobs growth trend.
CTDOL Director of Research Patrick Flaherty said, “With a 64% survey response rate, May was a strong employer reporting month, something we anticipate will lead to less volatility in the revised numbers out next month. As we expect at this time of year, seasonally adjusted employment played a large role in overall job gains in May.”
Each month, employers return a survey of payroll jobs used to calculate the estimated jobs data for the month. The following month, revised jobs numbers are issued that incorporate the initial survey response as well as any employer responses that came in after the deadline.
TOPLINE POINTS FROM MAY 2024 NUMBERS:
- May’s report marks the fifth month of job growth in 2024 with employers adding an average of 3,043 jobs per month.
- To date, total employment is up 15,200 in 2024. Employment rose 18,400 in 2023.
- Connecticut had 90,000 jobs available in April, latest data available.
- CT’s labor force participation rate increased to 64.7%. The national rate remains 62.5%.
- Seven of 10 supersectors added jobs or were unchanged; three saw declines.
- April gains were revised to 1,600 jobs added from the previously estimated 1,100 jobs added.
- The government sector, which includes state and local government as well as Tribal Nations, is 90% recovered from jobs lost during March-April 2020.
#DOLDaily video with CTDOL economist Patrick Flaherty will be back next month for the June report.
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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