by Kimberly James
More Connecticut residents are returning to work.
The latest Department of Labor report shows a decrease in the number of people claiming unemployment benefits. By adding another 2,900 jobs in August, the state stands roughly 36,000 jobs less than it recorded in January 2020 with a high of 1.7 million.
Andrew Markowski, Connecticut state director for National Federation of Independent Business, told The Center Square that the numbers reveal both good and bad news.
“While the number of small business owners who are expecting better conditions in the next six months have improved, it is still at the highest level since February and that’s a dismal outlook,” Markowski said.
As the state moves further from the height of the pandemic, people who weren’t previously looking for jobs are now seeking employment in the labor force. Still, for all of those workers, there are still many who cannot rejoin the workforce because of several issues, including inadequate child care and health issues.
“While every small business is different, most of our members have job openings that are open and they are having a hard time finding people to fill those jobs,” Markowski said, saying most represented 49%. “Some have told us that this is making it much harder for them to expand their small business.”
The most recent National Federation of Independent Business Small Business Optimism survey showed business owners are battling inflation and the rising costs of utilities, fuel, labor, supplies, materials, rent, and inventory. They are simultaneously having to raise compensation to attract better workers.
“Our small business owners are hiring and there are jobs out there for people seeking employment,” Markowski said. “Small businesses want to hire and they want to feel good about the economy in the future; however, with inflation prices up, jobs openings still high, and inflation being their biggest problem, the small business economy is still recovering from the pandemic.”
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Kimberly James is a contributor to The Center Square.Â
