Connecticut added nearly a thousand new jobs in the month of February, but overall unemployment remained slightly higher than the national average.
That was the conclusion from the monthly state jobs report that the Department of Labor released on Thursday. The report painted a mixed picture of Connecticut’s work landscape.
According to the report, Connecticut industry payroll jobs increased by 900 in February 2024 to a level of 1,702,500, while the state’s jobless rate increased 0.1% to 4.5%. That puts the state one percentage point higher than the unemployment rate a year ago, and more than half a point higher than the national unemployment rate of 3.9%. The state saw 2,847 initial unemployment claims, which is more than 12% lower than new filings in February.
Year over year, statewide payroll employment is nearly 1% higher than February 2023 levels, equating to 14,900 (0.9%) new positions when compared to February 2023 levels. In addition, the state has now recovered 295,000 jobs since the end of the COVID-19 lockdowns – 4,000 more nonagricultural jobs than were lost during the March-April 2020 COVID lockdown, meaning the state has finally replaced the jobs lost during the pandemic.
The breakdown of job growth by labor market areas (LMAs) also shows a range of job growth outcomes. The Hartford, Waterbury, and Norwich-New London-Westerly LMAs grew, while the Bridgeport-Stamford-Norwalk and Danbury LMAs lost jobs. The New Haven LMA remained unchanged over the report’s timeframe.
“Job gains have averaged 3,350 so far this year, a good start for 2024 with most industries adding jobs during the first two months of the year,” said Patrick Flaherty, Director of the Office of Research at the Connecticut Department of Labor. “Job growth averaged 1,500 per month in 2023 with the first half of the year showing more growth than the second half. We may see a repeat of that pattern in 2024.”
The preliminary January 2024 job gain of 7,400 positions was revised downward by 1,600 to a net gain of 5,800 jobs.
The addition of 900 jobs to the state represents “steady growth that continues a positive trend to begin 2024,” said Chris DiPentima, president and CEO of the Connecticut Business and Industry Association, in a statement. “It’s also encouraging to see the state’s labor force – those working and those actively looking for work – increase by 4,000 in February and 20,000 year-over-year. Connecticut has 90,000 job openings and approximately 86,000 people looking for work. That is a sharp contrast to just a few months ago when there were essentially 1.5 jobs for every unemployed person in the state.
Still, DiPentima said that work remains to be done by the legislature.
“Policymakers must enact solutions that address the labor shortage, make Connecticut a more affordable place to live and work, and provide opportunities for all residents,” he said.
Connecticut has added jobs even while several industries have shed workers over the last six months. UPS, Walgreens, and Bristol Health have all announced layoffs in the state in the coming weeks, with additional job losses coming from CVS and Sikorsky at the end of last year.
This month’s report includes labor statistics from two different monthly surveys (household and establishment) produced by the U.S. Bureau of Labor Statistics (BLS) in association with the states.
