Connecticut Loses Jobs, But Unemployment Rate Drops To 7.4%

  • Comments (34)
Connecticut's unemployment rate fell to 7.4 percent in December, the Connecticut Department of Labor announced. Photo Credit: File Photo

FAIRFIELD COUNTY, Conn. -- Connecticut's unemployment rate fell to 7.4 percent in December, but the state also lost nearly 4,000 jobs in that same time period, the Connecticut Department of Labor announced. 

Connecticut’s nonfarm employment declined by 3,900 jobs in December, down to 1,651,200 jobs, according to the survey. The loss reversed the 3,800 nonfarm job gain the state experienced in November.

Despite the drop in the number of jobs, the unemployment rate continued to decline from 7.6 percent a month earlier in November 2013 and from 8.2 percent a year earlier in December 2012. The drop marked the fourth straight monthly decline in the unemployment rate in Connecticut. 

The national unemployment rate is 6.7 percent.

“Connecticut’s payroll job counts appear to have been affected by bad winter weather around the time of the survey reference week,” said Andy Condon, director of the Office of Research in a release. “On a brighter note, the state’s unemployment rate continues to fall, and for better reasons than has sometimes been the case in the recent past. Declines in the number of unemployed residents largely were the result of employment rather than individuals leaving the labor force.”

The private sector dropped 3,800 jobs and fell 0.3 percent. With the fall, Connecticut has added 11,500 total nonfarm jobs since December 2012. The Bridgeport-Stamford-Norwalk Labor Market Area lost 1,700 nonfarm jobs and also fell 0.4 percent in unemployment. The Danbury LMA was unchanged.

Connecticut has now recovered 59,400 positions, or 49 percent of the 121,200 seasonally adjusted total nonfarm jobs that were lost in the state in the March 2008 to February 2010 employment recession. The state's jobs recovery is now 46 months old and is averaging 1,291 jobs per month since February 2010. 

The annual average unemployment rates have dropped for four consecutive years since the job market recovery began. 

  • 2013 - 7.9 percent
  • 2012 - 8.4 percent 
  • 2011 - 8.9 percent 
  • 2010 - 9.3 percent
  • 34
    Comments

Comments (34)

john.real.965:

We all can thank Malloy for this mess.

Jnc1962:

Obfuscated mis-informed media that follows the national media. CT surplus is solely attributed to the largest tax increase in the State's history since the introduction of the "temporary" income tax introduced by Lowell Weicker in 1991....job participation rate continues to be the lowest since 1970, and CT along with NY and NJ suffer snowbird's exit to Florida, Texas and other lower taxed states. Sales tax, gas tax, income tax, property tax....all strangle small businesses and the job creators....it's not just CT....just cross the border into NY, NJ, RI and MA....which share a common theme.

Leoj:

The real unemployment rate based upon the 2009 Labor Force Participation Rate has held steady at about 11% nationally for all of BHO's term of office. There're has been no improvement whatsoever ... And certainly a deterioration in high cost/tax, unfriendly places like CT.

Surfsup:

Unfortunately, the 'real' unemployment rate (M-6) in CT is much higher. The Labor Force Participation Rate has not held steady from 2009 through 2013, especially in CT.
As long as state politicians use an investment return rate of 8%+ in their budgeting assumptions, the budget for this state will look much better than reality.

Broad River:

Top Ten States with the highest property taxes‏

2012 Mean Property Taxes Paid

New Jersey
$7,318

New Hampshire
$5,230

Connecticut
$5,200

New York
$5,040

Illinois
$4,469

Vermont
$4,328

Rhode Island
$3,820

Massachusetts
$3,805

Wisconsin
$3,530

Alaska
$3,290

Robby.Rob:

The Connecticut surplus is twice what analysts thought it would be, and for a state that in 2011 faced a massive $3 billion budget hole it’s great to be in the black at last. Gov. Dannel P. Malloy said in a statement that the increased surplus “. . . highlights the continued progress we have made in turning a record-setting $3.6 billion deficit to a surplus of more than $500 million, while at the same time making smart investments to improve our education system and grow jobs.

BigWilly:

....except jobs did NOT GROW. go back, read the article and try again.

Elizabeth G:

Bigwilly You may want to have someone read the article to you.

BigWilly:

from the FIRST sentence:

"...but the state also lost nearly 4,000 jobs in that same time period"

Elizabeth G:

from the SECOND sentence
"the unemployment rate continued to decline from 7.6 percent a month earlier in November 2013 and from 8.2 percent a year earlier in December 2012. The drop marked the fourth straight monthly decline in the unemployment rate in Connecticut".

BigWilly:

Good Lord, Elizabeth....

THIS, my friends, is why our nation is in trouble. The democrats are passionate about being clueless.

Please read up on the Participation Rate and its impact on the overall unemployment rate. Once you have a basic understanding of the calculations, your tune will change.

M3 Driver:

Bigwilly trying desperately to spin good news into bad. Typical Republican

BigWilly:

So, LOSING 4000 jobs is "good news" to democrats?

M3 Driver:

BigWilly
I know you republicans like high unemployment as it was your war criminal the republican Bush that created it. But really you republicans think this is bad news "The drop marked the fourth straight monthly decline in the unemployment rate in Connecticut. " Amazing...I guess its true what they say that the republicans are the party of hate and destruction.

BigWilly:

M3,
the only 'destruction' we're discussing (and you are cheering) is the state losing 4,000 jobs....

if 4K lost is worthy of your joy....what if we lose 8,000 next month, you'd be even happier, right? how about 16,000 jobs lost? or 32K....?

at what point do we reach utopia? when no one is employed?

BigWilly:

the FACTS are clearly written in the article and repeated in the post. what planet are you democrats on? this is fascinating.

GTR:

The facts are thatl we have had 4 straight months of unemployment dropping thanks to democrat leadership

BigWllly:

Correct GTR that's right in the article.

BigWilly:

GTR
you are 100% incorrect. the facts is that 'unemployment' did not 'drop', it increased by 4000.

the 'rate' decreased only because MORE people dropped out of the workforce (denominator) during this period....again bad news.....make the rate appear attractive. but the pie is smaller. fewer people are working this month than last month. two negatives do not make a positive in this case.

GTR:

No little Robbie you are the one that is 100 percent incorrect. Your post is 100 percent right wing propaganda.
I like your new name.. I think I will make it mine.

BigWilly:

incredible.
there's nothing 'right wing' about the post. The State calculates the rate based on employment data.....and newsflash, the State is not what i'd call "right wing"

you're just too dense to understand.

BigWllly:

4 months of decline of unemployment....It says it all

M3 Driver:

Thank You governor Malloy and President Obama for fixing the problems created by the republican criminal Rowland , the republican war Criminal Bush and grandma Rell.

Surfsup:

The decline in the unemployment rate is directly related to the declining participation rate in the workforce. The sad thing is that the state of Ct is doing nothing to attract new and fast growing companies to the state. State budgets using smoke and mirrors to deflect serious fiscal problems and raising state taxes will catch up to us very soon.

Broad River:

Those 3800 lost jobs are very likely seasonal employment.
Also " Declines in the number of unemployed residents largely were the result of employment rather than individuals leaving the labor force.”
That would make it appear as though you can find a job once you lose benefits.
In the last 4 years, half the jobs lost over the 2 years prior to that have been recovered.

BigWilly:

despite this bad news, the Reporter still concludes with - to DaveK's point - the rate's positive trend numbers over time.

Greg, you might want to do readers a solid and research how many job LOSSES are baked into this rate reduction. the article ends with a conclusion that's 180 degrees from the truth. When it comes to jobs and taxpayers, shrinking our way to prosperity should not be the strategy....and if it is, the Left shouldnt whine about income equality.

BigWilly:

DaveK, "good job" ? really?

did you read that Connecticut "LOST JOBS"....the only reason the RATE goes down is because people are dropping out of the workforce....they're no longer counted in the equation so the pie of working, tax paying people is SMALLER. this is TERRIBLE news.

DaveK:

The politicians and the Connecticut Department of Labor are not talking about the fact that the Federal government cut off unemployment benefits to over 1 million people in December. People are still left with with no support, but the politicians can claim a reduction in unemployment. Shame on our government for their blatant disregard of families who need support so they can brag about the good job they are doing.

Paige:

I think this magical surplus that everyone is so happy about is actually the cash balance in the account BEFORE the bills are paid. It's not the remaining balance after the checks have been written. It's a function of the cash flow, not a surplus after the creditors have been satisfied.

BigWllly:

No pager that's not the case but nice try at spin

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