Westport’s unemployment rate in July was 6.7 percent, the highest in 17 months, and up from 6.4 percent in June, the Connecticut Department of Labor said today.

The department said the number of Westport unemployed in July was 870, up from 830 in June. The July labor force in Westport numbered 12,975, up from 12,951 in June, and there were 12,105 employed, down from 12,121 employed in June, the department said.

A 6.7 unemployment rate in Westport was last recorded in February 2011.

In May, the unemployment rate was 6.0 percent while a month before, it was 5.3 percent, the lowest since December 2011 when it was 5.2 percent. A year ago in July, Westport’s unemployment rate was 6.6 percent.

By Keith M. Phaneuf

www.ctmirror.org

How could Connecticut’s unemployment rate have worsened significantly in July when the state gained more than 5,000 jobs last month?

Gov. Dannel P. Malloy called out the Department of Labor today, questioning the jobless numbers it released in its latest report.

Based on one survey that estimates payroll jobs in businesses, the department concluded that 5,100 new jobs were created.

And a second survey, which counts unemployed household-by-household, found that the ranks of unemployed rose by 8,600 people in July.

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Greg Jensen, one of three co-chief executive officers of Bridgewater Associates, shows off an architect’s rendering of the hedge fund’s new Stamford corporate headquarters at a Stamford news conference today. (CLICK TO ENLARGE) Dave Matlow for WestportNow.com

The land on which Bridgewater Associates will build its new Stamford headquarters, adjacent to 15 Harbor Point Road, the site of today’s news conference announcing the Bridgewater move. (CLICK TO ENLARGE) Dave Matlow for WestportNow.com

Westport First Selectman Gordon Joseloff said today that news that Westport-based Bridgewater Associates intends to move its corporate headquarters to Stamford is “bittersweet news.” Here is the text of his statement:

First Selectman Gordon Joseloff: “disappointing…but good economic news for Connecticut.”  Dave Matlow for WestportNow.com

“This is bittersweet news for Westport in that we will potentially lose a majority of Bridgewater’s more than 1,200 jobs to Stamford but retain them in the State of Connecticut.

“I was told in advance by the governor’s office of the announcement and also discussed it this morning with Bridgewater Associates Co-Chief Executive Officer Dave McCormick who reached out to me to provide some details.

“My understanding is that this is a long-range plan with construction not expected to be completed for at least five years. Mr. McCormick said it is likely that even after the move that Bridgewater will possibly retain some presence in Westport both at its Glendenning-Ford Road complex and the Nyala Farms office complex.

Here is the text of an announcement from Gov. Dannel P. Malloy’s office today on Bridgewater Associates moving its headquarters from Westport to Stamford:

Gov. Dannel P. Malloy makes the announcement of Bridgewater’s planned move today in Stamford. (CLICK TO ENLARGE) Dave Matlow for WestportNow.com

Gov. Dannel P. Malloy today announced that Bridgewater Associates, one of the world’s leading hedge funds, intends to build a state-of-the-art corporate headquarters in Stamford.

The $750 million project will be built along the waterfront in the Harbor Point development.  To fully maximize the benefits under the agreement Bridgewater will create up to 1,000 high-level jobs within 10 years and also retain its current workforce of 1,225 employees.

The company is the third of Governor Malloy’s “Next Five” program.  To date, eight companies are taking part in the Governor’s signature economic development initiative.