April 2014 Connecticut Labor Situation ~ April nonfarm jobs gain (2,200); unemployment rate drops to 6.9% www1.ctdol.state.ct.us/lmi/laborsit.pdf Preliminary nonfarm employment estimates from the business establishment payroll survey show a pattern of continuing job growth for Connecticut. The state added 2,200 total nonfarm jobs (0.1%) in April for the third consecutive monthly increase and has now added 6,900 jobs (0.4%) over the year. Private sector job gains comprised 1,800 (0.1%) of last month’s increase and are stronger over the year (10,800, 0.8%) compared to overall nonfarm employment. Connecticut’s unemployment rate was estimated at 6.9% in April, down one-tenth of a percentage point from March 2014, and down nine-tenths of a percentage point from the 7.8% rate a year ago. The underlying statistical components of the unemployment rate are quite positive trends with the first yearly gain in civilian labor force since March 2011, and the strongest annual residential employment gain (19,595, 1.1%) since April 2007. The number of unemployed residents declined 2,023 (-1.6%) in April and has declined by 17,302 (-11.9%) since April 2013. “Both the establishment and household employment surveys are pointing to an improving labor market going forward for the state after extreme winter volatility,” said Andy Condon, Director of the Office of Research. “The expanding labor force, growing private sector work hours, and diminishing unemployment are encouraging signs for Connecticut’s economy. Even though the pace of Connecticut’s employment recovery is moderate, it seems to be on solid footing.” www1.ctdol.state.ct.us/lmi/laborsit.asp
Posted on: Thu, 15 May 2014 15:06:35 +0000
Trending Topics
Recently Viewed Topics
© 2015