Connecticut Business Group Flags 69,600 Fewer Employed Residents as Jobless Rate Hits 5.2%
Updated
Updated · CBIA · Jul 20
Connecticut Business Group Flags 69,600 Fewer Employed Residents as Jobless Rate Hits 5.2%
2 articles · Updated · CBIA · Jul 20
Summary
69,600 fewer Connecticut residents were employed than a year earlier, CBIA said, arguing June’s employment report shows deeper labor-market weakness despite headline job gains.
5.2% unemployment—1 point above the U.S. rate—came as the state’s labor force shrank by 11,300 in May and by 46,900 over 12 months.
Manufacturing, construction, education and other services still posted annual gains, while statewide nonfarm payrolls rose 1,500 in June to a record 1,726,500.
Retirements, weak population growth and reduced immigration are tightening labor supply, CBIA said, pressing Connecticut to become more affordable to attract and keep workers.