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Thursday, January 17, 2013

Unemployment Falls, But 2012 Ends With No Job Growth

By Keith M. Phaneuf

www.ctmirror.org

The state’s unemployment rate fell for the second month in a row in December, dropping to 8.6 percent, even though Connecticut lost 1,800 jobs, according to a report today from the state Department of Labor.

That’s because the state’s labor pool—which includes those employed as well as those actively seeking employment—fell by 9,900 from November, when the jobless rate was 8.9 percent. The unemployment rate reflects the percentage of residents seeking work who are unable to find it.

The latest report also shows that for the past calendar year, job growth effectively stayed flat, dropping 100 positions. That is well behind 2011’s modest growth total of about 7,800 jobs. The jobless rate in December 2011 was 8.1 percent.

“The state’s trend of a declining labor force continues for the sixth month in a row and was the primary factor behind the declining unemployment rate in December,” said Andy Condon, director of research for the labor department.

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01/17 03:01 PM Comments (0) • Permalink •