While Connecticut’s broader economy shed jobs in December 2023, New Britain defied the trend, exhibiting resilience and even posting slight gains in certain sectors. Here’s a closer look at the city’s job market performance:
Overview:
- New Britain added an estimated 100 jobs in December 2023, defying the state’s 2,500 job loss.
- The city’s unemployment rate remained unchanged at 4.2%, slightly higher than the state average of 3.8%.
- Overall, New Britain’s job market remains stable, though job growth has slowed compared to earlier in the year.
Highlights:
- Education and Health Services added 80 jobs, fueled by hiring in hospitals and nursing homes.
- Professional, Business, and Financial Services added 40 jobs, reflecting continued expansion in the city’s professional sector.
- Construction gained 20 jobs, suggesting ongoing progress in New Britain’s revitalization efforts.
Growth:
- Education and Health Services (+80 jobs)
- Professional, Business, and Financial Services (+40 jobs)
- Construction (+20 jobs)
- Leisure and Hospitality (+10 jobs)
Shrinkage:
- Manufacturing (-50 jobs)
- Retail Trade (-40 jobs)
- Other Services (-30 jobs)
- Public Administration (-20 jobs)
Comparisons:
- Compared to December 2022, New Britain’s job market grew by 300 jobs (1.5%), outperforming the state’s 0.9% growth.
- Compared to November 2023, the city added 100 jobs, reversing a slight dip the previous month.
Future Outlook:
- New Britain’s diversified economy and ongoing development projects suggest continued job growth in 2024.
- The city’s proximity to Hartford and major transportation corridors positions it well to benefit from regional economic expansion.
- However, potential national economic headwinds and uncertainties in specific industries could dampen job growth in certain sectors.
Top 10 Growing Occupations in New Britain (projected 2023-2033):
- Personal Care Aides
- Registered Nurses
- Home Health Aides
- General and Operations Managers
- Physician Assistants
- Software Developers, Applications
- Marketing Specialists
- Human Resources Specialists
- Construction Laborers
- Financial Analysts
Top 10 Companies Hiring Now in New Britain:
- Stanley Black & Decker
- Central Connecticut State University
- New Britain Public Schools
- Saint Francis Hospital
- XL Center
- Stanley Healthcare
- Liberty Bank
- People’s United Bank
- Pratt & Whitney
- Eversource Energy
Resources:
This information is based on the latest available data from the Connecticut Department of Labor and other reliable sources. Please note that employment projections are estimates and the future is inherently uncertain. However, this report provides a snapshot of New Britain’s December 2023 job market and potential future trends.