Connecticut’s unemployment rate went down in July, and the state’s rate of job loss slowed. But the state still lost 2,800 jobs in that month. The unemployment rate went down from 8 percent to seven-point-eight percent.
The number of losses in July was significantly lower than June when revised figures show Connecticut lost 7,800 jobs.
Peter Gioia, chief economist with the Connecticut Business and Industry Association says it’s good news, but we’re not out of the woods yet.
The total number of job losses for the recession so far is about 76,000 jobs in the state, which is a rough number. Sort of fits with what estimates several economists have had of 80 to 100,000 jobs lost during the entire recession. I think it's certainly possible we'll hit the higher end of that figure."
The industries that did the best in July were leisure and hospitality, and the professional and business sector, both of which gained jobs.
Government did the worst, losing 2,400 jobs – analysts say this is probably due to the state’s retirement incentive program.