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Connecticut Unemployment Back to 9 Percent

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

According to numbers released by the Connecticut Department of Labor Monday, Connecticut's October unemployment rate increased to 9 percent from September's 8.9 percent figure. Despite the uptick in the unemployment rate, one survey showed that 1,200 jobs were added in October.

“With October’s results we are, for the first time, showing year-over-year declines in job levels,” said 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 last 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. 

Waterford Rez November 20, 2012 at 03:51 PM
Just wait till Pfizer completely moves out and the sub base shuts down (both will happen, don't kid yourself). Wait till Obama care really kicks in....Ever watch a long line of domino's knock each other over? Once it starts, they don't stop until they are all knocked down. If it weren't so sad it would be funny. It really is hard to feel sorry for a state that votes in the same leaders over and over and over and over and over and over and over and over and over and over again...it really is. Think about this: What does CT have to offer a young professional person or couple just starting out? What does CT have to offer a new business? What incentive does an existing business have to stay in CT? Zippo, nadda, ziltch....nothing. Period. Game over CT.
Waterford Guy November 20, 2012 at 05:11 PM
I only moved back to CT because I wanted my kid to be around his extended family. Still working on convincing everyone to move south. More take home pay, cheaper houses, cheaper taxes, cheaper utilitie, less violent crime due to the rural population and more lenient gun laws, right to work states, people still smile and say "hello" to you in the store and on the street, fewer omnipotent moral busibodies trying to run my life for me. We are reaping what we have sown not only in this state but all across the U.S. If you really want to be depressed for a minute, just look at a chart of real hosehold wages measured in real money (gold).

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