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Hartford, CT : Office Snapshot - Q3 2014

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Hartford, CT : Office Snapshot - Q3 2014

The U.S. economy experienced a big milestone this quarter, with unemployment dropping below 6% for the first time since the summer of 2008. The Nutmeg State was unable to match the country’s 5.9% rate, however, holding at 6.6%, according to the U.S. Bureau of Labor Statistics. While elevated, though, this is still an upgrade over last quarter’s 6.9% unemployment. Modest gains in the Trade, Transportation, and Utilities sector, the second largest occupational area in the state, likely contributed to the improvement.

In the state capital, however, the picture wasn’t quite so rosy. The Hartford metro area showed no growth from last quarter, with the unemployment rate holding exactly flat at 7.0%. While the general trajectory of joblessness has followed the same downward path as the state and nation, it has been at a much slower rate. This quarter, Education and Health Services and Government experienced their usual seasonal dips, but with no other industries adding a significant number of positions, the market has been stagnant.

Source : Cushman & Wakefield

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