Connecticut Unemployment Rate Falls to 5.4 Percent | Connecticut Public Radio

Connecticut Unemployment Rate Falls to 5.4 Percent

Aug 20, 2015

The state's unemployment rate has fallen to 5.4 percent, according to the Department of Labor. The department's Bureau of Labor Statistics said Thursday the state added 4,100 jobs in July.

"This is good news," said Governor Dannel Malloy in a statement. "Our state should recognize the progress we're making. Jobs are dramatically up, the unemployment rate is significantly down, and we're on track to reach private sector job levels that the state hasn't seen since before the Great Recession."

Officials said the state has grown 30,600 non-farm jobs over the last year, and has now recovered 97 percent of the private sector jobs lost during the recession. 

The unemployment rate dropped from 5.7 percent a month earlier. The state's jobless rate had been a full percentage point higher than the national rate a year ago, but is now one-tenth of a point higher.

The Connecticut Business and Industry Association described the report as good news, but noted that surrounding states are still outperforming Connecticut. Massachusetts unemployment rate is 4.7 percent. The report also describes an uneven picture across the state, with lower Fairfield and Hartford counties performing best, while New Haven and New London counties actually lost jobs in July.

Below is more data from the state's monthly report, shared by the governor's office:

  • The unemployment rate in the state dropped three-tenths of a percent to 5.4 percent, just one tenth of a point above national rate of 5.3 percent. At this time last year, the unemployment rate was one full point higher, at 6.4 percent.
  • Connecticut saw a net increase of 4,100 jobs during the month.
  • Over the year, the state has grown 30,600 nonfarm jobs – the largest annualized nonfarm job growth pace since July 2000.
  • The state has now recovered 97 percent of the private sector jobs lost during the Great Recession.  The private sector now needs just an additional 3,400 positions to reach full, pre-recession recovery.

"We are going to continue fighting for more good paying jobs with good benefits as we engage with companies like never before," Malloy said. "This report is another step into the future for Connecticut."

This report includes information from The Associated Press.