WETHERSFIELD: while the US unemployment rate and neighboring states continue to see job growth Connecticut continues to lose jobs. The Connecticut Department of Labor reports that the Nutmeg state lost 3,500 jobs in November and the state’s unemployment rate increased to 4.6%.
The total number of Connecticut jobs is 1,677,500,
November’s job losses come on the heels of job losses of 6,200 jobs in October and a 300 job gain in September.
Resident employment estimates include the self-employed and residents working out of state and are determined separately from the nonfarm payroll job estimates above.
Job growth in 2017 has slowed significantly since peaking in the second quarter,” said Andy Condon, Director of the Office of Research. “However, November’s year-over-year decline of 700 jobs does not necessarily mean Connecticut has produced fewer jobs in 2017 than in 2016. On an annual average basis, Connecticut has grown 5,000 jobs over 2016 in the twelve months ending in November.”
The Connecticut Business and Industry Association [CBIA] economist Peter Goia said in a released statement headed Full-Blown Crisis’ as State’s Jobs Decline Continues, saying. “we’ve lost 15,300 jobs since June,” said CBIA economist Pete Gioia. The sanguine goia said,“it’s difficult to define the glass as half full when we see continued job losses like this.”
CBIA’s statement highlighted Connecticut’s outlier status saying, “the New England states average 1.2% growth over the same period, while U.S. growth is 1.4%”.
As of July 2017 only five states in the US had not recovered the jobs lost in the “Great Recession,” including Arizona, Wyoming, Nevada and Mississippi. Connecticut has now recovered 69.9% (83,300 jobs) of the 119,100 seasonally adjusted jobs lost in the Great Recession (3/08-2/10). The job recovery is into its 93rd month and the state needs an additional 35,800 jobs to reach an overall nonfarm employment expansion. The state’s private sector also slipped a bit in the recovery, regaining 89.7% (100,200) of the 111,700 private sector jobs lost in that same employment downturn. The government supersector has lost a total of 24,300 positions since the recession began in March 2008.
“You can’t deny the fact that we now have a full-blown crisis in jobs,” Gioia said, adding, “we need bold reforms to jump start our stalled economy, and we need a retooling of our jobs pipeline.
Private sector employment fell by 3,300 (-0.2%) to 1,446,700 jobs over the month in November, but remains up by 2,800 jobs (0.2%) over the year. The government supersector declined by 200 (-0.1%) to 230,800 jobs last month and over-the-year losses are at -3,500 or -1.5%. The government supersector includes all federal, state and local employment, including public higher education and Native American casinos located on tribal land.
Seven of the ten major industry supersectors lost employment in November, while only two increased. The education & health services supersector remained unchanged (333,600 total jobs). Other services led growing industries with 1,300 net new jobs (2.0%, 67,700 total jobs). Financial activities saw an increase of 700 jobs (0.5%, 133,300 total).
On the downside, leisure & hospitality dropped an estimated 2,000 jobs in November (-1.3%, 151,700 total). Leisure & hospitality has lost 9,400 seasonally-adjusted jobs since its peak in June; however, this large drop is more reflective of declines from a very strong summer season to more typical levels than it is of any weakness in the industry. These losses are not reflected in the annualized not seasonally adjusted data. Professional & business services was next with a loss of 1,400 (-0.6%, 216,700 total), while the volatile construction and mining industry shed 1,300 jobs (-2.2%, 57,700). Trade, transportation & utilities lost 400 positions (-0.1%, 297,300 total), driven by a 1,100 seasonally adjusted decline in retail employment. The manufacturing (-0.1%, 157,200) and information (-0.3%, 31,500 total) supersectors both saw small losses of 100 jobs.
Regional Job Loss and Gains.
Connecticut Labor Market Areas (LMAs): Two of the six LMAs that are seasonally adjusted by the BLS saw job increases in November 2017 and four saw losses. The Danbury LMA led gains in November (400, -0.5%, 79,500 total). The Waterbury LMA saw a small increase of 100 (0.1%, 67,100 total).
The Norwich-New London-Westerly LMA led declines with a drop of 1,100 jobs (-0.9%, 127,900 total). Bridgeport-Stamford-Norwalk was next with a loss of 900 jobs (-0.2%, 411,000 total). The New Haven LMA shed 700 jobs in November (-0.2%, 284,300 total). Smaller losses were seen in Hartford-West Hartford-East Hartford (-300, -0.1%, 570,700 total).
Note: The six major Connecticut LMAs are estimated independently from the statewide data by the BLS and cover more than 90% of the nonfarm employment in the state. Thus, estimates will not fully sum to the statewide total.
Hours and Earnings: The private sector workweek, not seasonally adjusted, averaged 34.0 hours in November 2017, up three-tenths of an hour from the same month a year ago. Average hourly earnings at $31.01, not seasonally adjusted, were up $0.44 (1.4%) from the November 2016 estimate ($30.57). The resultant average private sector weekly pay amounted to $1,054.34, up $24.13 from a year ago (2.3%). The 12-month percentage change in the Consumer Price Index for All Urban Consumers (CPI-U, U.S. City Average, not seasonally adjusted) in November 2017 was 2.2%. Information for the manufacturing production workweek and earnings can be found in the table section of this release under the “Hours and Earnings” data category. Current all-employee private sector hours and earnings estimates can be volatile due to fluctuating sample responses.