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Connecticut jobs grow in March

April 22nd, 2014

The latest labor statistics show that Connecticut jobs climbed in March.

The state has now added 9,400 jobs (0.6%) over the year. The March increase was enhanced by February’s upwardly revised increase (1,400, 0.1%) that was 600 jobs higher than originally reported.

The unemployment rate in the state for March was 7.0%, unchanged from February 2014, but down from the 7.8% rate determined a year ago. The statewide labor force estimate grew again in March (7,012, 0.4%), mostly on increased residential employment.

Employment estimates for March show a strong 4,900 job gain (0.3%) which is helping Connecticut return to the moderate nonfarm employment growth trend that was apparent at the end of 2013. Since March 2013, the state has added 9,400 jobs (0.6%) for a total nonfarm employment level of 1,658,900.

March’s monthly employment level has ascended through its three-month moving average, which is used to address monthly volatility.

Connecticut has regained 65,000 positions, or 54.6% of the 119,100 seasonally adjusted total nonfarm jobs that were lost in the state during the March 2008 – February 2010 employment recession.

Connecticut’s jobs recovery is now 49 months old and is averaging approximately 1,327 jobs per month overall since February 2010. The core private sector has recovered at a faster pace and has now gotten back 76,500 (68.3%, 1,561 per month) of the 112,000 private jobs that were lost during the same downturn.

March 2014 preliminary estimates show five of the six major Connecticut Labor Market Areas (Bureau of Labor Statistics recognized LMAs) posted nonfarm job gains, while the Norwich-New London LMA was just slightly lower (-100, -0.1%). Hartford (3,900, 0.7%), the largest LMA, led all in job growth magnitude in March after posting a large job loss last month. The Bridgeport-Stamford-Norwalk LMA (1,900, 0.5%) also was positive and the New Haven LMA (1,300, 0.5%) added jobs as well.

State adds Connecticut jobs

April 6th, 2014

Year over year, Connecticut jobs have increased, according to recent labor statistics.

Labor statistics posit that Connecticut regained 800 total nonfarm jobs (0.05%) in February after a major weather-related employment decline in January, and has now added 10,300 jobs (0.63%) over the year. The more robust private-sector had a stronger job rebound, adding 2,700 positions (0.19%), and has increased payrolls at much faster pace over the year (14,000, 1.00%).

Connecticut’s core private sector (2,700, 0.19%) was certainly stronger last month, and has shown more solid growth over-the-year (14,000, 1.00%). The government supersector (-1,900, -0.81%) remains a drag on overall employment gains both over-the-month, over the year (-3,700, -1.56%). Since the overall job recovery began in in February 2010, an additional 12,300 additional public sector jobs have been lost.

Connecticut has recovered 59,500 positions, or nearly half of the now 119,100 seasonally adjusted total nonfarm jobs that were lost in the state in the March 2008 – February 2010 employment downturn.

Connecticut’s jobs recovery is now 48 months old (4 years) and is averaging approximately 1,240 jobs per month overall since February 2010 (14,875 jobs per year over the four years).

The private sector has recovered much better and has now recouped 71,800 (64.1%, 1,496 per month) of the now 112,000 private jobs that were lost during the same recessionary period (17,950 jobs per year).

The state’s unemployment rate continued to undergo a steady decline, dropping two-tenths of a percentage point this month to 7.0%, and is down from the 7.9% rate calculated a year ago. This is the seventh consecutive monthly decline in Connecticut’s unemployment rate since July 2013.

An increasing civilian labor force (5,842, 0.3%) for the second month in a row, coupled with strongly rising residential employment (8,489, 0.5%), and a falling number of unemployed residents (-2,647, -2.0%) helped bring the unemployment rate down this month. T

he number of unemployed Connecticut residents has decreased 17,502 (-11.8%) since February 2013.

Firm expands to create science jobs in Connecticut

March 28th, 2014

Datto, Inc., one of the fastest-growing information technology firms in the world, is investing in a new global headquarters in Norwalk and will be creating science jobs in Connecticut.

Datto will grow its presence in Connecticut by expanding its current space at the Merritt 7 office park and retaining or creating at least 250 jobs for Connecticut residents over the next two years.

The Connecticut Department of Economic and Community Development (DECD) will provide $6 million in state funding for Datto’s expansion project, which will cost an estimated total of $15 million. The state funding, consisting of a low-interest loan and a grant-in-aid, will be used for construction, leasehold improvements and the purchase of machinery and equipment. Datto anticipates hiring a minimum of 100 high wage employees over the next two years.

Datto will receive a loan of $5 million at an interest rate of 1 percent for a term of 10 years. Principal payments will be deferred for the first three years. The company is eligible for $2.5 million in loan forgiveness if it retains 150 full-time jobs and creates 100 full-time jobs within two years. Additional forgiveness is possible if the company reaches certain job milestones. If Datto creates a total of 250 new jobs within three years, the company will qualify for a grant of $1 million.

“When Datto began to think of expanding their presence in Norwalk, I met with them early on and immediately recognized their value and potential to help our community grow. Governor Malloy and Commissioner Smith have led a sustained effort to support high-tech businesses in Connecticut. I appreciate their support for this Norwalk company, and their commitment to growing these kinds of good paying jobs in our state,” said State Senator Bob Duff (D-Norwalk).

“This is great news for Norwalk and for the tech industry in Connecticut,” said State Rep. Chris Perone (D-137). “I thank the Bond Commission and Governor Malloy for making this important investment in Norwalk.”

“Connecticut is good for business and this announcement is further proof of that,” said State Rep. Bruce Morris (D-140). “Datto’s decision to build its headquarters in Norwalk will create jobs, strengthen our economy and improve our quality of life. Helping businesses like Datto grow is the kind of economic development we need and I thank Governor Malloy for leading the way.”

Revised numbers show a loss of Connecticut jobs

March 20th, 2014

Revised economic numbers for January shows that Connecticut jobs dropped.

Connecticut’s employment dipped 10,400 positions to a level of 1,653,100 jobs in January 2014.

Upward revisions to 2013 nonfarm employment levels, especially in the fourth quarter of 2013, brought December’s re-estimated employment 12,300 positions higher (+0.7%) than levels originally published. Connecticut experienced upward nonfarm employment revisions to every month in 2013.

This is the sixth monthly unemployment rate decline in a row since reaching 7.9% in July 2013 (based on newly revised data, see page 6).

The state’s unemployment rate is now eight-tenths of a percentage point below a year ago (8.0%). The number of unemployed residents in the state has fallen over-the-year by 16,413 (-11.0%).

January’s job estimate fell by 10,400 (-0.6%) possibly due to severe winter weather in the region. Year-over-year job growth declined to 3,900 (0.2%, seasonally adjusted). January’s decline followed a revised upward December estimate which reached the highest nonfarm employment level since the recovery began in February 2010.

Connecticut has recovered 59,200 positions, or 49.7% of the now 119,100 seasonally adjusted total nonfarm jobs that were lost in the state in the March 2008 – February 2010 employment recession. The prior nonfarm recessionary job loss was estimated at 121,200 but was revised slightly lower (-2,100) due to changing seasonal factors, a slight change in scope of industry coverage, and the updated benchmark.

Connecticut’s jobs recovery is now 47 months old and is averaging approximately 1,260 jobs per month overall since February 2010.

The private sector has recovered much better and has now recouped 69,800 (62.3%, 1,485 per month) of the now 112,000 private jobs that were lost during the same recessionary period (formerly 114,000 on last year’s benchmark).

With help from government, bakery creates more Connecticut production jobs

March 4th, 2014

Bakery On Main of East Hartford has been approved for funding that will boost Connecticut production jobs.

The funding from the State Bond Commission will help the bakery to relocate to a larger facility in a move that will more than double its workforce.

Bakery on Main has committed to creating or retaining 129 jobs for Connecticut residents over the next four years.

akery On Main will move to a new 111,000 square-foot facility at 127 Park Avenue to increase capacity, which will require 70 new employees for production to remain efficient.

The state Department of Economic and Community Development (DECD) will provide a $3 million, 10-year loan at 2 percent interest to help Bakery On Main engage in leasehold improvements and purchase new state-of-the-art machinery and baking equipment.

“This is the kind of important investment the state needs to make to help companies – big and small – thrive,” state Rep. Tim Larson (D-East Hartford) said. “It’s great to see Governor Malloy working hard to help businesses grow and create jobs. The state and local economies are improving and these kinds of investments will pay big dividends for everyone in the long run.”

“The town of East Hartford is thrilled to be a partner in the successful expansion of Bakery on Main,” said Mayor Marcia A. Leclerc. “The company will be completing a substantial investment in our Enterprise Zone area, and hiring new employees. The growth of our town’s industrial base is a great asset in our community that we will continue to build upon.”

“Bakery on Main has been a great corporate citizen since it has opened its doors, and with the state’s assistance, we are ensuring it will continue to be an asset in East Hartford and the surrounding towns,” said DECD commissioner Catherine Smith. “With substantial capital and community investments, and good local jobs for area residents, Bakery on Main is making a tremendous impact in its community.”

“When we invest in small businesses, we invest in stronger communities,” said Governor Malloy. “We are putting our state economic development tools to work to assist small businesses like Bakery on Main in their efforts to grow, create new jobs and take their operations to the next level.”

Economic assistance program creating small town Connecticut jobs

March 1st, 2014

The state’s 2014 Small Town Economic Assistance Program (STEAP) grants are creating small town Connecticut jobs.

More than $2.4 million, will be awarded to Avon, Chester, Farmington, Milford, New Milford and Sprague.

Administered by the Office of Policy and Management (OPM), STEAP provides funding for local capital improvement projects that support economic development, encourage community conservation and improve the quality of life for residents.

The Town of Avon applied for funding that would cover the last two phases of a four phase project that consists of installing handicap accessible sidewalks and decorative lighting in Avon Village Center. Both Phases Three and Four would go out to bid in early 2014 and construction would take place in the summer and fall of 2014.

This is Phase One of a Four Phase project to revitalize Chester Center Village. The master plan was completed in June 2013 and approved in July 2013 at a town meeting. The timeline for this project coincides with a ConnDOT bridge replacement project in the center of town set to begin in January 2016. Phase One construction would go out to bid May 2014 with construction beginning late June 2014 and ending in October 2014.

This project consists of installing a synthetic turf athletic field at FHS, including updating the existing subsurface drainage system to store and cleanse runoff from the field and diverting the runoff away from the path of the Farmington River. Other benefits include lower maintenance cost, increased playability, fewer injuries, potential for hosting CIAC events and tournaments

“I know Farmington residents have been strongly behind this project, which would benefit more than a thousand athletes in town, so I’m pleased to see the state partnering with Farmington,” said State Senator Beth Bye (D-5). “It’s a great investment for the community.”

“A safe, useable field is vital to the health and physical education of Farmington High School students,” said State Senator Terry Gerratana (D-6). “The STEAP grant awarded to Farmington will allow for the installation of a new field with proper safeguards to prevent runoff. This will ensure a high-quality environment where local sporting events can be enjoyed by all Farmington residents. I look forward to visiting the field once it has been completed and cheering on Farmington’s student athletes.”

Employers look to fill information systems security jobs in Connecticut

February 21st, 2014

If you are searching for jobs that pay big bucks, don’t forget to look for information systems security jobs in Connecticut.

Employers are prepared to offer increased compensation this year to skilled information technology (IT) and digital professionals who can help organizations meet the following objectives: keep information and networks secure, turn data into business intelligence and seize new opportunities in the mobile space.

Six roles that are expected to see big salary increases include:

Mobile applications developer: As companies expand their mobile initiatives to connect with consumers anytime, anywhere, they need professionals who can develop for smartphones, tablets and other mobile devices. Experienced mobile applications developers can expect to see the largest increase (7.8 percent) in starting compensation of any tech position listed in this year’s Salary Guide, with salaries ranging from $100,000 to $144,000.

Business intelligence analyst: Organizations of all types want to derive more value from the data they generate, collect and store by turning it into actionable intelligence. Skilled business intelligence analysts can anticipate a 7.4 percent boost in starting compensation in 2014, with salaries ranging from $101,250 to $142,250.

Information systems security manager: Keeping data secure and protecting users and the network from cyber threats is a priority for any modern business. Information systems security managers who can assess and remediate vulnerabilities, threats and intrusions are in demand, and are projected to see a 6.8 percent bump in base compensation this year, with average starting salaries between $115,250 and $160,000.

User experience designer: Designing engaging user experiences is essential to the success of any mobile or web initiative — and requires specialized talent. User experience designers can expect to see average starting salaries between $78,000 and $120,000, up 7.5 percent from 2013.

Mobile designer: Compelling content and functionality are vital to delivering a satisfying interactive mobile experience. Skilled mobile designers can anticipate average starting salaries to increase 6.3 percent in 2014, to the range of $66,000 to $103,000.

User experience specialist: Developing innovative, interactive user experiences for web and mobile applications requires creativity and technical expertise. User experience specialists can expect to receive base compensation in the range of $79,000 to $118,000, a gain of 5.9 percent over last year.

More information about the positions listed above can be found in the Robert Half Technology 2014 Salary Guide, which includes a wide range of IT job descriptions, and The Creative Group 2014 Salary Guide, which focuses on interactive, design and marketing jobs.

Raising minimum wage would boost Connecticut retail jobs

February 6th, 2014

If the governor has his way, the minimum wage in the state could be raised, a move that could boost Connecticut retail jobs, among other industries.

Governor Malloy said that he will be introducing legislation to increase the state minimum wage to $10.10, mirroring recent national efforts by President Obama and other Congressional leaders to raise the federal minimum wage to that same amount.

Governor Malloy signed a bill into law that increased the state minimum wage in two stages: from $8.25 to $8.70 on January 1, 2014, followed by a second increase to $9.00 that is currently scheduled to take effect on January 1, 2015.

The proposal the Governor announced today calls for a slight modification of next year’s increase, bringing the total to $9.15 on January 1, 2015. The proposal would then add a 45-cent increase to $9.60 beginning January 1, 2016, followed by a 50-cent increase to $10.10 effective January 1, 2017.

The proposal will be included in the Governor’s legislative package for the upcoming 2014 regular session of the General Assembly, which begins February 5.

“There is a debate happening across our country on how to tackle the growing income inequality that is detrimental to our middle class families and to our economy. Part of tackling that critically important challenge is making sure that we recognize that a good and decent wage is good for workers and good for business,” said Governor Malloy, who announced the proposal at a news conference in Bridgeport. “For too long, the minimum wage has not kept up with the cost of living. As studies have shown, the workers who would benefit from a minimum wage increase brought home 46 percent of their household’s total wage and salary income in 2011. When workers earn more money, businesses will have more customers. This modest boost will help those earning the least to make ends meet.”

State loses Connecticut jobs

January 29th, 2014

Although the unemployment rate fell, the state lost Connecticut jobs in December.

According to labor market information, Connecticut jobs declined 3,900 (-0.2%, seasonally adjusted) to a level of 1,651,200 jobs in December.

The private sector dropped 3,800 (-0.3%) jobs and government positions fell by 100 (-0.04%). Nonfarm employment has grown 11,500 (0.7%) jobs since December 2012 (and year to date).

The state’s unemployment rate is now eight-tenths of a percentage point below a year ago (8.2%). This is the fourth straight monthly decline in the unemployment rate since summer and builds on November’s three-tenths of a point fall. The reduction in the number of unemployed residents in the state over the year is 17,171 (-11.2%).

The state lost 3,900 (-0.2%) jobs, a reversal of the 3,800 jobs (0.2%) added in November. The private sector (-3,800, -0.3%) and the government supersector (-100, -0.04%) both lost jobs last month. Connecticut has now added 11,500 total nonfarm jobs (0.7%) since December 2012, for a seasonally adjusted total of 1,651,200. Hiring in the private sector has been better over the year, adding 12,800 positions (0.9%). Government is down 1,300 (-0.5%) positions since December 2012.

Connecticut has now recovered 59,400 positions, or 49.0% of the 121,200 seasonally adjusted total nonfarm jobs that were lost in the state in the March 2008 – February 2010 employment recession. Connecticut’s jobs recovery is now 46 months old and is averaging approximately 1,291 jobs per month since February 2010. The private sector has recovered a little faster and has now regained 67,600 (59.3%, 1,470 per month) of the 114,000 private jobs that were lost during the same period.

“Connecticut’s payroll job counts appear to have been affected by bad winter weather around the time of the survey reference week,” said Andy Condon, Director of the Office of Research. “On a brighter note, the state’s unemployment rate continues to fall, and for better reasons than has sometimes been the case in the recent past. Declines in the number of unemployed residents largely were the result of employment rather than individuals leaving the labor force.”

Investment will create Connecticut jobs

January 21st, 2014

The state Department of Economic and Community Development (DECD) will provide a loan to Oxford Performance Materials (OPM) Inc., a move that will create Connecticut jobs.

The funding will bolster an expansion project that will create or retain 65 jobs for Connecticut residents over the next two years.

OPM, a biomedical company that produces plastic medical implant devices, is expanding its capabilities in additive manufacturing, which is more commonly referred to as three-dimensional (3-D) printing. Additive manufacturing allows manufacturers to produce components by printing one layer at a time until a 3-D part is created.

DECD is supporting OPM’s $9.5 million expansion project with a $3.2 million loan at an interest rate of 2 percent over a 10-year term. The project will add 12,000 square feet to the company’s South Windsor manufacturing facility. DECD will provide $3 million for new machinery and equipment and $200,000 for building upgrades. OPM will be eligible for $1 million in loan forgiveness if it meets its job retention and creation obligations by 2016.

“Once again the State of Connecticut is leading the way in helping to grow and retain local jobs and businesses — particularly those in the high-tech industries that are the keystone of our economic future,” said state Senator Gary D. LeBeau (D-East Hartford, South Windsor).

“Connecticut is home to one of the most highly educated, productive and profitable workforces in the nation. When government partners with local industry to expand, hire and succeed, our residents and our state economy are the beneficiaries. And that is exactly what is happening today.”

“I am continually supportive of the Governor’s efforts to move the state forward with these types of programs to assist businesses like Oxford Performance Materials,” said state Rep. Timothy Larson (D–South Windsor).

“Oxford Performance Materials has established itself as one of the nation’s leading biomedical companies, and I am very pleased to see OPM begin to develop their business into the advanced additive manufacturing field. This expansion will help generate more high-paying jobs, right here in South Windsor,” said state Rep. Bill Aman (R-South Windsor).


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