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Connecticut Unemployment Back to 9 Percent

Job growth appears to be slowing and wages are on the decline.

The October unemployment rate increased a tenth of a percent to 9 percent, according to figures from the Connecticut Department of Labor. One survey showed that 1,200 jobs were added in the previous month despite the uptick in the unemployment rate.

“With October’s results we are, for the first time, showing year-over-year declines in job levels,” said Andy Condon, director of the Department of Labor’s Office of Research. “However, we believe that when we complete our annual benchmark revisions in March, we will be showing as many as 8,000 to 9,000 more jobs in the state than the payroll survey currently indicates.  If so, the current year-over-year declines will no longer hold.”                  

The state’s unemployment rate peaked at 9 percent twice this year. Before July 2012, the previous time unemployment was at 9 percent was April 2011.

In a written statement, Gov. Dannel P. Malloy stressed the severity of the recession that slumped the economy.

“Though not as severe this month as in previous months, the household and business surveys are once again pointing in opposite directions,” Malloy said. “On the one hand, we created 1,200 jobs this month. But on the other, our overall unemployment rate increased slightly.  If these conflicting results tell any single story, it’s that more people are attempting to enter the workforce because conditions are beginning to improve.”

The survey shows that the average workweek droped from 34.4 hours in 2011 to 34 hours in October. Average hourly earnings dropped 54 cents to $27.93 in a year. 

Wyatt November 20, 2012 at 02:56 PM
What a surprise. Failed leadership = failed state. To any young person reading this - leave CT as quick as you can. Better opportunities, and a more affordable lifestyle, can be had elsewhere.
Chad November 21, 2012 at 12:21 AM
Apparently it's a bad thing that more people are looking for a job, as that is skewing the numbers (like they weren't looking for a job previously)! I read that the administration expects these numbers to change, after they gather more information (why is that not a surprise). Gee where do you think they are going to get more data from? Why do they use the excuse that the problem with the budget is that the economy is not as active as they anticipated, when they are the ones that extracted one + billion out of it with the largest tax increase in state history? What part of basic economics do they not understand? $365 million deficit (oh sorry - not deficit but shortfall as defined by the governor) in 3.65 month. I am glad we have that correct now, because it will make a hugh difference for the new smoke & mirrors!
Paul Bahre November 21, 2012 at 12:09 PM
I'm so supprised, not !!! The Dems have a super majority and they are taxing everone and all the business right the hell out of the state. Danny has no clue on how to attract sustainable business to the state. All he has been doing to is to unsuccessfully bribe existing busineses to stay put, and has attracted a couple of small medical research places to John Dempsey Hospital. All the Dems know how to do is to ruin and scare away business.

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