Connecticut’s job market continued to improve, at least in some sectors, during October, bringing overall unemployment down to just 3.5%, according to the latest jobs report. September job increases were also adjusted up by 500, bringing that month’s increases to 3700 as well.
According to the Connecticut Department of Labor (CTDOL), the state’s overall job market has more than recovered from record unemployment during the COVID-19 pandemic. Sectors that have seen total recovery since 2020 include: Healthcare & Social Assistance; Wholesale Trade; Transportation & Warehousing; Information; Education Services; Professional & Scientific Services; Arts & Entertainment; and Administration & Support Services.
“Private sector employment is at an all-time high and the unemployment rate is near a pre-pandemic low,” said CTDOL Commissioner Danté Bartolomeo in a statement. “This jobs report marks full economic recovery for Connecticut. With supply chain interruptions, inflation, a tight labor market, and other barriers, pandemic recovery was a hard-fought battle for employers and the workforce.”
The commissioner added that there is still more work to do, but that “we’re on the right path.”
Trade, Transportation and Utilities, along with Education and Health Services, saw the largest increases during October by sheer numbers. A category called “Other Services” and Construction and Mining saw the largest increases by percentage.
Meanwhile, Leisure and Hospitality, Manufacturing, Financial Activities, and Professional and Business Services all saw job losses of between 0.1% and 0.5%.
Chris DiPentima, President and CEO of the Connecticut Business and Industry Association (CBIA), says these numbers are “another reason for optimism,” as was Census data showing 57,000 people moving to the state.
“It’s important that we seize this opportunity, build on this momentum, and work to further grow the population and fill the open jobs,” argued DiPentima in a statement. “Connecticut has 96,000 job openings—essentially 1.5 jobs for every unemployed person in the state—and solutions like ones CBIA has put forth to further address affordability, childcare, and housing are critical to filling these rewarding career opportunities.”
DiPentima highlighted the losses in manufacturing and says that the state needs to “expand career pathways to ensure that the manufacturing ecosystem and all industry sectors continue to be positioned for growth.”
CBIA’s Manufacturing Report last month highlighted reported struggles in manufacturing ranging from high costs and taxes to an underprepared workforce.