Connecticut Unemployment Hits 5% as Labor Force Shrinks by 28,000 Over 12 Months

1 articles · Updated · CBIA · May 21

Connecticut’s unemployment rate rose to 5% in April, above the 4.3% national rate, even as the state posted job gains in manufacturing, healthcare, and professional and business services.
CBIA said those gains still reflect a volatile job market because the labor force fell by 9,000 in March and is down more than 28,000, or 1.4%, from a year earlier.
The business group said Connecticut now has 21,000 fewer people in its labor force than before Covid, calling that decline the state’s main brake on sustained economic growth.
CBIA tied the weakness to affordability pressures and said lawmakers failed this session to act on healthcare, housing, and energy costs that could make the state more attractive to workers and employers.

Sources

With Connecticut jobs at an all-time high, why is its skilled labor force shrinking at such an alarming rate?

As soaring living costs and record debt strain family budgets, is Connecticut becoming too expensive for its own residents?

A new federal law targets large housing investors. Will it finally solve Connecticut's severe affordability crisis for local families?

1 total