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Unemployment Rate Holds Steady At 6.4% In Connecticut

FAIRFIELD COUNTY, Conn.  – The state's unemployment rate stands steady at 6.4 percent, the lowest in almost six years, according to the Connecticut Department of Labor’s monthly Labor Situation report for October.

The Department of Labor released a labor report for October 2014, showing the lowest unemployment point since November 2008.

The Department of Labor released a labor report for October 2014, showing the lowest unemployment point since November 2008.

Photo Credit: File

That number is holding steady -- the state's jobless rate was also at 6.4 percent for September. The national unemployment rate is currently 5.8 percent.

The report shows the state's unemployment rate is at its lowest since November 2008 – and that Connecticut saw a net increase of 4,900 private sector jobs during October. In total, the state has experienced an increase of 70,600 private sector jobs since January 2011.

“These numbers are another sign of progress. With more than 70,000 private sector jobs created since January of 2011, we are experiencing one of the best periods of growth in decades," Gov. Dannel P. Malloy said in a statement. 

"More work remains to be done and we are committed to doing everything we can to ensure Connecticut remains on a path toward an economic revival. By working with the business community on expanding their operations or relocating to our state, we are putting Connecticut on the path to long-term prosperity.”

Connecticut added 3,600 jobs on a seasonally adjusted basis in October, but the unemployment rate remained flat at 6.4 percent compared to September, the Department of Labor said Thursday.

The jobless rate is down from 7.6 percent from a year ago in October 2013.

The private sector added 4,900 jobs, which was partially erased by public sector job losses.

The biggest gains were in retail trade with 2,400 more jobs, which the Department of Labor said may indicate an earlier-than-usual holiday hiring buildup.

The state has added a total of 18,300 jobs during the first 10 months of 2014, compared with 13,700 over the same period of 2013.

October brought the state's largest labor force growth of the year, adding 10,675 people, or 0.6 percent.

Connecticut now has recovered 87,900 positions, or 73.8 percent of the 119,100 jobs that were lost in the state during the March 2008 to February 2010 recession.

The October preliminary job numbers show that the Bridgeport-Stamford-Norwalk Labor Market Area was unchanged in the number of jobs. The Danbury Labor Market Area added 300 jobs.

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