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Connecticut added 5,300 jobs in October, the fifth consecutive month of job gains as the state’s gradual economic bounceback from the COVID-19 pandemic appears to be stabilizing.
According to the state Department of Labor, Connecticut’s official unemployment rate dropped from 6.8% in September to 6.4% in October. September’s job growth, originally estimated at 4,700 new positions, was revised up to 6,500.
The education, health services, hospitality, financial, trade and professional services industries all added jobs last month, while the construction and manufacturing sectors, along with government employment, lost ground.
“Each quarter job growth has accelerated throughout the year, a pattern we expect to continue into the fourth quarter of 2021,” said Patrick Flaherty, director of the Labor Department’s Office of Research. “Also, while there’s no doubt that the pandemic severely damaged Connecticut businesses and our workforce, market watchers like to see these kinds of broad job gains that reach across a variety of industry sectors — it’s indicative of a fundamentally healthy economy. It’s going to take time to recover completely.”
Connecticut has now regained 72.8% of the 292,400 jobs lost during the COVID-19 shutdowns of March and April 2020.
Connecticut continues to trail the national unemployment rate, which fell to 4.6% in October.
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Read HereThis special edition informs and connects businesses with nonprofit organizations that are aligned with what they care about. Each nonprofit profile provides a crisp snapshot of the organization’s mission, goals, area of service, giving and volunteer opportunities and board leadership.
Hartford Business Journal provides the top coverage of news, trends, data, politics and personalities of the area’s business community. Get the news and information you need from the award-winning writers at HBJ. Don’t miss out - subscribe today.
Delivering Vital Marketplace Content and Context to Senior Decision Makers Throughout Greater Hartford and the State ... All Year Long!
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