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Stratford Unemployment Rate Down 2 Pts Since July

The town's unemployment rate is at 8.2 percent, down from 10.2 percent in July 2011, according to the latest figures released by the Connecticut Department of Labor.

The unemployment rate in Stratford continues to decline, and December saw the rate dip to 8.2 percent, released by the Connecticut Department of Labor.

According to the department, of the town's 25,970-strong labor force, 2,136 were without a job in December, which equates to a 8.2 percent unemployment rate.

However, compared to most neighboring towns and cities, Stratford's unemployment rate is still lagging behind. In December, Milford had an unemployment rate of 6.7 percent, Trumbull of 6.3 and Shelton of 6.5. Bridgeport had the third highest unemployment rate in the state at 11.7 percent.

The statewide unemployment rate reported by the department in December was 7.6 percent; in July, the state had a 9.2 percent uemployment rate.

"After a disappointing performance in the third quarter of 2011, it appears that Connecticut's labor market has returned to a modest pace towards recovery," Andy Condon, director of the office of research, said in a statement.

"Our declining unemployment rate is particularly good news," he said. "However, forecasts for job growth in 2012 remain cautious and uncertain with most analysts predicting levels much like what we saw this past year.”

For a comparison of all Connecticut cities and towns for 2011, visit the state Department of Labor's website.

Editor's note: The original publication date for this article, Jan. 27, has been changed for layout purposes.

Jezebel282 January 28, 2012 at 12:57 PM
I would argue your 7 million unemployed number. Most of the estimates I read are in the 14-16 million range. In addition, those who have been lucky enough to find some sort of full-time re-employment have done so at far lower compensation levels than they had previously held. When you consider the hit wage & salary earners have taken from rising energy, health insurance and State and local tax increases it is astounding that disposable income is a measurable number for anyone. The solutions will not come from those who depend upon earned income. It will only come from the way capital in invested. Short term investing (what have you done for me this week/month/quarter?) and worthless paper trades have consumed our capital markets. Commodities such as gold and oil no longer track any sort of supply and demand rules. Programmed trading has reduced investments to the most clever algorythms. It is doubtful that any hedge fund manager or mutual fund manager can read or write a business plan. Until capital begins flowing instead of being held as a cash asset, we will be looking at miniscule movements in unemployment, personal income and personal assets. It is not the "job creators" (what a rediculous term) that will do this. The solutions will come from weak-kneed managers, shareholders and boards of directors.
Pam January 29, 2012 at 10:50 PM
Thanks Max (above) for clarifying the DOL defination in layman's terms and Jason for the DOL formal definition. My suggestion to Jason is that you change the leading sentence in your article- "The town's unemployment rate is at 8.2 percent..." It is mis-leading. Just talk to the many 50-64yr olds in town who have been unemployed for over two years due to companies down-sizing, laying off, or just letting people go to enable companies to trim their bottom line of more expensive workers. It seems like it's almost an epidemic!
re26 January 30, 2012 at 05:32 AM
To clarify: Total Non-Farm Employment (SA) as of 12/15/2011 is 131,900,000 while Real GDP stood at $13.4B. At the prior peak (6/4/08), Real GDP was at 13.3B while TNFE(SA) was 137,423,000, apologies for the overstatement. Though I won't point you to the actual data support, please note that the BLS definition is used and some brief on the figure is supported here http://www.bls.gov/news.release/pdf/empsit.pdf . However, if you are referring to alternative measure of underutilization, then a brief on the U6 number can be found here: http://www.bls.gov/news.release/empsit.t15.htm. Note: i'm pointing you to the U6 thought the U3 number is the official rate used. Though "compensation" is undefined, and it's nearly impossible to determine the "re-employment" wage levels outside of looking at aggregate levels, the average hourly earnings data tends to be a good proxy. I hope this helps!
re26 February 04, 2012 at 07:43 AM
243k jobs added last month, and continued improvement in the nation's unemployment rate to 8.3%, the 5th consecutive monthly decline. The trajectory continues to be positive, but the real measure of jobs recovery will be to sustain these levels.
Jezebel282 February 04, 2012 at 01:42 PM
Yay! Only 65 more months to go at this rate!

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