HARTFORD: Connecticut may finally be joining the national job growth that it has been lagging. In May the state added 4100 jobs, one of the largest monthly gains in yars and follow two months of job declines.
The state saw gains in the private sector by 4300 jobs and Connecticut has gained all of the jobs lost in the recession. CBIA’s economist Peter Goia said “the private sector is starting to grow at a moderate rate,” he added, “the state is starting to see year-over-year trends that are more positive. The biggest concern is that the labor force shrank again.”
The job growth did not dent the unemployment rate which remained at 4.5%, still well behind the national average of 3.8. Connecticut's job growth in May also lags its New England and New York neighbors in job growth since 2012 as well. Massachusetts saw a 10% gain in jobs, Rhode Island 7% and Connecticut only 3%.
Economist Don Klepper-Smith with DataCore Partners told the ctmirror.com news website said the news jobs were “a positive step,” he added “the job data through the first five months of 2018 shows we’ve posted a YTD (year to date) gain of just 0.5 percent, indicating lackluster, fractional growth that’s probably in the fifth quintile of the U.S. rankings.”