Economic Update for the Region - May 2007
The region’s unemployment rate was 4.5% April 2007 up 0.3% from the average unemployment rate 4.2% in April 2006. The unemployment rate for the state is 4.4%, so the Hartford area is doing slightly worse than the state as a whole. Employment in Education and Health Care (+5.7%) continues to exhibit the strongest growth followed by the Professional & Business sector up 5% since last year. Manufacturing and Information Technology employment, while in a slight decline in growth - is facing a strong attrition through retirements factor indicating a strong need for skilled workers.
The chart below provides a listing of the region’s 3 fastest growing industries.
Industry |
# Jobs |
Year Over Year Increase in Workforce |
Prof, Scientific, Tech |
94,700 |
+4.3% |
Educational Services |
54,700 |
+3.8% |
Accommodation and Food |
110,900 |
+2.6% |
Connecticut Department of Labor - Labor Market Information
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