After a slew of horrible not-so-good very bad news, finally we get something good. Turns out our job numbers hit a high note last month. Also, a recovery may be on the horizon.
CT Post reports that, according to the state Department of Labor, CT added 7,000 jobs last month. In addition, the state added 5,600 jobs in May.
In short, should this trend continue, economists anticipate a full job recovery by next year. 9 years after the recession, we’re finally on the right track. Sure, it’s a little late. But, better late than never.
Economists say the state regained about 84 percent of the jobs lost from the recession. They also claim the state is on track to add 30,000 jobs this year, in all.
Although, many residents withheld their optimism considering the state said something similar last year. And it turned out to be a load of hogwash.
State officials wouldn’t lie to us two years in a row… would they?
Joe McGee, vice president of public policy for The Business Council of Fairfield County, certainly believes in the report’s veracity. He told the Post:
“Connecticut is back. The economy in Connecticut has turned the corner. We’re growing again. And that is a very happy development.”
However, our unemployment rate ticked up by a small margin last month. It jumped from 4.9 to 5 percent, so there’s that to rain on our parade. It’s above the national unemployment rate of 4.4 percent.
If it helps, our jobless rate last June was 5.2 percent.
Anyways, of the 7,000 or so jobs the state gained last month: most were in leisure and hospitality. So, obviously, there’s naysayers claiming most of the jobs are part-time or seasonal positions.
What side of the fence are you on? Do you think the state will make that coveted recovery. Or, is it all smoke and mirrors once again?