WETHERSFIELD, Conn. — Connecticut’s Department of Labor (CTDOL) announced Thursday the unemployment rate dropped below 4% in June, its lowest since August 2023. Thousands of jobs were also added statewide.
In May, the unemployment rate was at 4.3%, and it dropped 0.4% to become 3.9% in June, the latest labor report shows. The national average in June is 4.1%.
The report shows Connecticut employers added approximately 3,300 jobs in June. This continues the six-month job growth trend of employers adding an average of 3,000 jobs per month. Connecticut’s labor force participation rate is at 64.6%, which is higher than the 62.6% national average, according to the press release.
CTDOL’s Commissioner Danté Bartolomeo said, “The state’s economy remains steady and stable with sustainable growth across a broad range of industries, a low unemployment rate, and good opportunities for job seekers.”
“Inflation has slowed, which is welcome news for Connecticut workers, and if the national economy remains in good shape, economists expect 2024 to be another growth year,” Bartolomeo added.
The press release highlighted seasonal adjustment is a factor in this report. It’s a process that smooths out normal economic patterns in the retail, warehousing and transportation industry during the holidays. It also happens to education jobs in the fall.
It says, "While seasonally adjusted numbers show a slight drop in June, jobs increased according to not seasonally adjusted data." For the third time since 2008, added construction jobs are above 65,000.
The report compares today's economy to how it looked during the COVID-19 pandemic. Connecticut has recovered 105.2% of payroll jobs lost during the pandemic. As well as 105.7% of private sector jobs, a record high, according to the report.
While people are getting more jobs, temporary jobs like the Administrative and Support Services is declining. The reason for this is not mentioned in the press release nor the report.
Emily McGlynn is a producer at FOX61 News. She can be reached at emcglynn@fox61.com
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