By Keith M. Phaneuf
Connecticut’s unemployment rate declined three-tenths of a point to 5.1 percent in October, despite the loss of 7,200 jobs, the state Department of Labor reported today.
Over the last 12 months, non-farm employment has now grown by just 3,200 jobs, or 0.2 percent.
“Connecticut’s two monthly measures of labor market health continue to send mixed signals,” said Andy Condon, director of the department’s Office of Research.
“Payroll job counts have declined for four consecutive months, indicating a significant slowing of recent job growth trends. However, the residential employment survey and model continue to show increasing employment, decreasing unemployment and a significant drop in the unemployment rate. We will have to await further data to see which direction our labor markets are headed.”
Private sector employment fell by 4,200 jobs, or 0.3 percent, in October while the public sector lost 3,000 jobs, dropping 1.3 percent.
