By Mark Pazniokas
Connecticut today posted a contradictory jobs report for the second consecutive month, showing that the unemployment rate dropped a tenth of a point to a post-recession low of 5.1 percent in October, despite the loss of 2,200 jobs.
First, the good news: Unemployment in the state has not been this low since March 2008, the start of the Great Recession that eventually claimed 119,000 jobs. And the state made a net gain of 24,100 nonfarm jobs in the past 12 months.
Now, the bad: Preliminary nonfarm employment estimates for October show a loss of 2,200 jobs. It was the fourth month this year in which a survey of businesses found a net loss of jobs.
“For the second month in a row Connecticut has shown job losses, possibly indicating a softening of the strong growth we have seen through August of this year,” said Andy Condon, director of research at the state Department of Labor. “However, our annual employment growth rate continues at a strong pace.”
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