10/21/2024
CT Dept. of Labor Releases September Jobs Report: Unemployment Rate Falls to 3.2%; Private Sector Jobs Remain Steady
(Wethersfield, CT) – Today, Connecticut Department of Labor (CTDOL) Commissioner Danté Bartolomeo released the September 2024 jobs report showing the state’s unemployment rate fell for the sixth consecutive month and is now at 3.2%, 0.2% lower than August. Private sector jobs were unchanged. The government sector (federal, state, local, and tribal) lost 300 jobs due to state government decline as student workers were not yet on the payroll during the survey. Total employment is estimated at 1,710,300 payroll jobs, 11,800 jobs above the September 2023 level.
Commissioner Bartolomeo said, “Connecticut was hit harder by the pandemic than most states, but our recovery is steady and the overall economy is moving at a stable and sustainable pace. Broader economic trends show that from April 2020—when businesses began pandemic recovery, Connecticut’s jobs growth is in line with the national average. It’s worth noting too that Connecticut’s average wage growth has outpaced inflation. The federal government has brought inflation down significantly over the year and wage growth especially helps the state’s lowest wage workers. While we’ll see monthly ups and downs, the underlying economy remains solid; we must keep our focus on workforce development, housing, and other issues that attract and retain a talented workforce.”
Over the past year, Connecticut’s average hourly earnings rose 6.1% while the Consumer Price Index, the primary measure of inflation, rose 2.4%. Average weekly earnings are up 8.0% as the number of hours worked in a week increased.
CTDOL Director of Research Patrick Flaherty said, “The economy is following the ‘new normal’ of strong early year growth that tapers off by end of year. We’ve seen improved wages for lower wage workers and the market itself is a job seekers market, although the number of open jobs is moderating and has fallen below 80,000. This market continues to present challenges for recruiters—stronger economic growth is constrained by the size of the workforce and high retirements in key industries such as manufacturing.”
TOP LINE POINTS FROM THE REPORT AND LABOR MARKET INFORMATION:
- Connecticut’s unemployment rate dropped from 3.4% in August to 3.2% in September.
- Total jobs for 2024 are up 14,500 jobs from December 2023 at 1,710,300.
- August estimated private sector losses were revised from 2,200 jobs to 1,900 jobs.
- Top gainer: Professional & Scientific Services, part of the Professional and Business Services supersector, gained 1,800 jobs. Professional & Scientific Services industry employees include lawyers, IT, and other highly skilled, highly paid employees.
- Other Services, which includes barbers, auto repair, and personal services, added 400 jobs.
- The Information sector contracted by 700 workers, likely due to media employers unwinding staff after the Olympics.
- Connecticut’s Labor Force Participation Rate is 64.1%, down 0.1%; the national rate is 62.7%. Despite labor force declines, the labor force is up 1,300 since Dec. 2023.
- Using both the HWOL and JOLTS surveys, Connecticut has about 78,000 jobs open.
- Continued unemployment claims are below 25,000 and dropped last month.
#DOLDAILY videos with economist Patrick Flaherty:
#DOLDaily: Major Takeaways from the September Report
CTDOL and the American Job Centers provide assistance to both job seekers and recruiting employers. With free career counseling; resume and job search assistance; recruiting events; and CTHires registration and information help, the American Job Centers connect workers with opportunities and employers with a workforce.
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For Immediate Release: October 21, 2024
Media Contact:
CTDOL Communications Unit
200 Folly Brook Boulevard, Wethersfield, CT 06109-1114
Email: CTDOL.Communications@ct.gov | https://www.ct.gov/dol