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CT Loses 2,000 Jobs in March

April 19, 2018 By Staff
CT Loses 2,000 Jobs in March

The state lost jobs in a month for the first time since October 2017.

It may not be surprising in the economy of Gov. Dan Malloy (D-Conn.), but the state of Connecticut actually lost jobs in the month of March, according to the Connecticut Department of Labor.

Preliminary Connecticut nonfarm job estimates from the business payroll survey administered by the US Bureau of Labor Statistics (BLS) show the state lost 2,000 net jobs (-0.1%) in March 2018, to a level of 1,690,000, seasonally adjusted. Over the year, nonagricultural employment in the state grew by 7,800 jobs (0.5%). The February 2018 originally-released job gain of 2,600 was unchanged after revision. The number of the state’s unemployed residents was estimated at 86,381 seasonally adjusted, down 527 from February. As a result, Connecticut’s unemployment rate decreased by one-tenth of a point to 4.5% in March, seasonally adjusted.

It’s the first time the state has lost jobs in a month since October 2017, when the state lost 1,800 jobs.

Compare that to the U.S. economy, which added 103,000 jobs in the month of March.

Fear not, though: Malloy announced on Wednesday that a Massachusetts company would be moving to Connecticut and creating a whole seven new jobs, at a taxpayer cost of at least $100,000.