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    Thursday, May 09, 2024

    State loses 3,700 jobs in February

    A deep freeze in February resulted in more than frozen pipes, ice-dammed gutters and roadside spinouts. It also cost Connecticut residents some jobs, according to the latest labor report released today.

    The state Department of Labor said Connecticut saw a loss of 3,700 jobs last month, and attributed the fall-off -- the first in eight months -- to temperatures that made February the coldest on record dating back more than a century.

    "Connecticut's record-cold February temperatures and frequent snow appears to have affected industry employment, hours worked and some unemployment claims activity last months," Andy Condon, director of the department's Office of Research, said in a statement.

    On the positive side, January's reported gain of 6,400 jobs was enhanced in the latest report, which indicated a revision had upped growth to 7,500 jobs. But the Norwich-New London region continues to lag the state on employment, accounting for 500 job losses last month -- second in Connecticut only to the Hartford area's 800 in terms of total job losses.

    And, according to economist Don Klepper-Smith of DataCore Partners in New Haven, even the state's more impressive numbers mask a slowing of job momentum seen over the past four years.

    "We have been adding jobs at a slower pace," Klepper-Smith said in a note to clients. "The state has shed 37,000 manufacturing jobs over the last 10 years ... (and) we see that the loss of high value-added manufacturing jobs has accelerated over the last three years despite economic recovery."

    Klepper-Smith said he still expects job recovery in Connecticut this year, and said February losses were to be expected given bad winter weather. He predicted job gains statewide of 15,000 to 18,000 this year -- significantly better than last year's revised increase of only 12,500.

    Connecticut's unemployment rate ticked up one-tenth of a point to 6.4 percent last month. The Norwich-New London area saw the same tenth of a point bump up in unemployment, from 7.5 percent in January to 7.6 percent last month, but the jobless rate was still about half a percent lower than a year earlier.

    Also, labor participation was up again for the 17th straight month, indicating that more people are seeking work. 

    Job sector gains and losses in CT, Jan.-Feb. 2015

    Educational and health services saw job losses of 1,800 in February, while trade, transportation and utilities posted a gain of 1,300

    GAINS

    Trade, transportation and utilities: +1,300

    Information: +200

    Manufacturing: +200LOSSES

    Education and health services: -1,800

    Professional and business services: -1,500

    Leisure and hospitality: -900Source: Connecticut Department of Labor

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