Connecticut’s unemployment rate dipped slightly and the state added an estimated 1,600 jobs in May, according to the Connecticut Labor Department.
Unemployment weekly filings ticked up slightly due to seasonal layoffs, but unemployment dropped 0.2% to 4.2%.
“Connecticut continues to have high workforce participation and the job market remains a strong one for job seekers,” Labor Commissioner Danté Bartolomeo said. “Positive indicators this month include another drop in the unemployment rate and good jobs numbers out of the private sector. It’s important to note that economists are watching energy prices for impacts on residents and businesses, as well as inflation, the stock market, and other factors that would impact Connecticut’s financial services sector.”
Connecticut gained 1,600 jobs in May, however, despite the growth Connecticut has only recovered 82.6% of the jobs lost during March and April 2020 when the pandemic shut down parts of the economy. The private sector is 86.3% recovered from the April 2020 COVID employment
Chris DiPentima, president and CEO of CBIA, said this year’s job growth is 0.8% which is half of the national rate and the lowest in New England.
There are 100,000 jobs unfilled in Connecticut.
“However, even if every unemployed person found a job, we would still have 31,300 left to fill,” DiPentima said.
He said he was discouraged to see the construction sector lose 1300 jobs and manufacturing lose 200 positions.
But not every sector lost jobs. Seven of the 10 industry sectors gained employees in May.
“This month we saw good news from the food services and hospitality sectors; trends we hope will continue as we head into summer,” CTDOL Director of Research Patrick Flaherty said. “Additionally, the 2022 household survey data seems to bear out what economists had opined during the pandemic—workers are leaving payroll jobs to pursue self-employment. Economic recoveries are always uneven, however, this was a solid jobs report.”