Connecticut employers added just 300 positions in March, a big dip from the 4,100 jobs created in February.
The unemployment rate, which is calculated on a separate, household survey, ticked upward from 5.5 percent to 5.7 percent. The U.S. unemployment rate stands at five percent.
Economist Don Klepper Smith from Datacore Partners in New Haven called the March figures "hugely disappointing, given the fact that we have year-to-date job growth of only 0.8 percent, which is half the national average." He went on: "You could argue that the monthly Connecticut gain of 0.02 percent was statistically insignificant."
Others agreed.
"We are still struggling to come to terms with a stubborn new economic reality,” said CBIA economist Pete Gioia. And he pointed to another worrying aspect of the March report. “We are adding back low-wage jobs at a much higher rate than high-paying jobs,” he noted.
Sectors like hospitality and transportation are doing much better than higher value industries including finance and manufacturing.
