CT adds 14,100 jobs in October, but COVID recovery weakens

With last month’s increase, the state has now regained about two-thirds of the 291,000 positions it shed during the COVID-related shutdowns in March and April, a toll equal to more than double the number of jobs lost in the state’s 2008-10 recession. But the monthly gains are shrinking, the data shows. Amid the job gains, the rate of unemployment declined for a third-straight month. The official unemployment rate listed in the October report, 6.1 percent, compared with 7.8 percent for September. Last month, the national rate ran at 6.9 percent. Experts agree, however, that the official jobless rate — which is based on a household survey — significantly understates the actual unemployment level. In October, Connecticut’s unemployment rate, in fact, ran at about 11 percent, labor department officials estimated. Construction and mining was the only sector to lose jobs last month, with a decline of 400.

https://www.ctinsider.com/business/stamfordadvocate/article/CT-adds-14-100-jobs-in-October-but-COVID-15740584.php?cmpid=gsa-stamfordadvocate-result

Share This Article: