Connecticut’s private sector appears to have completed its painfully slow recovery from the Great Recession of 2008, as the state added 7,100 private-sector jobs last month, the state Department of Labor reported Thursday. Unemployment, however, still rose a tenth of a point to 5 percent.
After six years of fits and starts, Connecticut’s job recovery hit a significant benchmark in November as the state added 5,100 jobs, giving the private sector a full recovery from the job losses of the Great Recession. The unemployment rate remained at 5.1 percent.
Still struggling to pay its debt from the last recession, Connecticut might have avoided that emergency borrowing – and have double its current reserves – had it followed a new savings strategy unveiled Tuesday by Comptroller Kevin P. Lembo.
A gain of 4,600 jobs in November wasn’t enough to stop Connecticut’s unemployment rate from ticking upward slightly in the state’s last report before the New Year. The jobless rate rose from 6.4 to 6.5 percent, the Department of Labor reported Thursday, but the state has gained 25,700 jobs over the last 12 months.
Despite 5,800 jobs added to the Connecticut economy in May, the state’s unemployment rate remained unchanged at 6.9 percent, the Labor Department reported Thursday.