March 29, 2012

GOV. MALLOY: STEADY IMPROVEMENTS AIDING IN STATE'S ECONOMIC RECOVERY

Unemployment Rate Drops for Seventh Consecutive Month to 7.8%

(HARTFORD, CT) - Governor Dannel P. Malloy issued the following statement regarding today's release of the Connecticut Department of Labor's monthly "Labor Situation" report for the month of February 2012, which indicated that Connecticut's unemployment rate decreased for the seventh consecutive month by two-tenths of a point to 7.8 percent, compared with the national rate of 8.3 percent. The monthly job gain in the private sector was 5,500 and is now up a solid 17,100 positions over the year.

"This is good news. For the seventh consecutive month, we're seeing positive signs in the state's economic recovery, again outpacing the national average and bringing unemployment to its lowest level since April 2009. With a gain in the private sector of 5,500 jobs in February and 17,100 over the year, the state is seeing a trend that we will fight to continue," Governor Malloy said. "But we must not lose sight that we are still at the beginning of the recovery. Reclaiming the jobs that were lost will take time, but my administration is committed to do everything we can to put the state on a path that will lead to an economic revival."

Connecticut's unemployment rate during the last year:

January 2011: 9.3%
February 2011: 9.2%
March 2011: 9.1%
April 2011: 9.0%
May 2011: 8.9%
June 2011: 8.9%
July 2011: 8.9%
August 2011: 8.8%
September 2011: 8.6%
October 2011: 8.5%
November 2011: 8.3%
December 2011: 8.1%
January 2012: 8.0%
February 2012: 7.8%

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For Immediate Release: March 29, 2012

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