Unemployment rate stays at 2.9 percent for November

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Unemployment rate stays at 2.9 percent for November

Fri, 12/22/2017 - 10:44am -- tim

by Timothy McQuiston Vermont Business Magazine The Vermont Department of Labor announced today that the seasonally-adjusted statewide unemployment rate for November was 2.9 percent. This reflects no change from the revised October and September rates. Jobs grew in both the seasonally adjusted and unadjusted data for both the month and year-to-year. The Labor Force also increased. However, the unadjusted unemployment rate for the state and in every Labor Market increased for the month, but are still below where they were a year ago.

The national rate in November was 4.1 percent, also unchanged. As of the prior month’s preliminary data, the Burlington-South Burlington Metropolitan NECTA was tied for the ninth lowest unemployment rate in the country for all metropolitan areas. Overall, Vermont’s unemployment rate was tied for the fifth lowest in the country for November. New Hampshire was tied for third (2.7 percent, unchanged from October, see chart below).

“The November numbers show the winter tourism season in Vermont is off to a strong start. Thanks to some early winter-like weather, many mountain-based employers were able to open early enough in November to be captured by the monthly jobs survey. Winter tourism creates a lot of economic activity across the state. If you are interested in finding work either on a mountain or in your local town, the Vermont Department of Labor can assist all individuals with their job search. Vermont employers are recruiting at all skill levels,” said Lindsay Kurrle, Commissioner of the Vermont Department of Labor.

The seasonally-adjusted Vermont data for November show the Vermont civilian labor force increased by 450 from the prior month’s revised estimate. The number of employed persons increased by 550 and the number of unemployed persons decreased by 100. The changes were not statistically significant in the seasonally-adjusted series.

The November unemployment rates for Vermont’s 17 labor market areas ranged from 2.0 percent in White River Junction to 4.1 percent in Derby (note: local labor market area unemployment rates are not seasonally-adjusted). For comparison, the November unadjusted unemployment rate for Vermont was 2.7 percent which reflects an increase of four-tenths of one percentage point from the revised unadjusted October level and a decrease of two-tenths of one percentage point from a year ago.

Not-Seasonally-Adjusted

The preliminary ‘not-seasonally-adjusted’ jobs estimates for November show an increase of 400 jobs when compared to the revised October numbers. There was a decrease of 400 jobs between the preliminary and the revised October estimates due to the inclusion of more data. The monthly increase seen in the November numbers was primarily attributable to seasonal movements in leisure and hospitality related industries. The broader economic trends can be detected by focusing on the over-the-year changes in this data series. As detailed in the preliminary ‘not-seasonally-adjusted’ November data, Total Private industries have increased by 4,900 jobs (1.9 percent) and Government (including public education) employment has decreased by 100 jobs (-0.2 percent) in the past year.

Seasonally-Adjusted

The seasonally-adjusted data for November reports an increase of 900 jobs from the revised October data. As with the ‘not-seasonally-adjusted’ data, this over-the-month change is from the revised October numbers which experienced a decrease of 400 jobs from the preliminary estimates. The seasonally-adjusted over-the-month changes in November were mixed at the sector level. Those with a notable percent increase include: Mining & Logging (+100 jobs or 12.5%), Arts, Entertainment & Recreation (+300 jobs or +5.9%) and Accommodation & Food Services (+1,800 jobs or +5.4%). Sectors with a notable percent decrease include: Real Estate, Rental & Leasing (-100 jobs or -3.4%), Construction (-500 jobs or -3.2%) and Private Educational Services (-200 jobs or -1.4%).

NOTE: Employment (nonfarm payroll) - A count of all persons who worked full- or part-time or received pay from a nonagricultural employer for any part of the pay period which included the 12th of the month. Because this count comes from a survey of employers, persons who work for two different companies would be counted twice. Therefore, nonfarm payroll employment is really a count of the number of jobs, rather than the number of persons employed. Persons may receive pay from a job if they are temporarily absent due to illness, bad weather, vacation, or labor-management dispute. This count is based on where the jobs are located, regardless of where the workers reside, and is therefore sometimes referred to as employment "by place of work." Nonfarm payroll employment data are collected and compiled based on the Current Employment Statistics (CES) survey, conducted by the Vermont Department of Labor. This count was formerly referred to as nonagricultural wage and salary employment.

Unemployment Rates for States, Seasonally Adjusted
State November 2017(p)
rate
Rank

Hawaii

2.0 1

North Dakota

2.6 2

Nebraska

2.7 3

New Hampshire

2.7 3

Colorado

2.9 5

Idaho

2.9 5

Iowa

2.9 5

Vermont

2.9 5

Minnesota

3.1 9

Tennessee

3.1 9

Utah

3.2 11

Wisconsin

3.2 11

Maine

3.3 13

Missouri

3.4 14

Alabama

3.5 15

Kansas

3.5 15

South Dakota

3.5 15

Florida

3.6 18

Massachusetts

3.6 18

Arkansas

3.7 20

Indiana

3.7 20

Virginia

3.7 20

Texas

3.8 23

Maryland

3.9 24

Montana

4.0 25

South Carolina

4.0 25

Oklahoma

4.2 27

Oregon

4.2 27

Arizona

4.3 29

Georgia

4.3 29

North Carolina

4.3 29

Rhode Island

4.3 29

Wyoming

4.3 29

Washington

4.5 34

California

4.6 35

Connecticut

4.6 35

Michigan

4.6 35

Pennsylvania

4.6 35

Delaware

4.7 39

Kentucky

4.7 39

Louisiana

4.7 39

New York

4.7 39

Mississippi

4.8 43

Ohio

4.8 43

Illinois

4.9 45

Nevada

5.0 46

New Jersey

5.1 47

West Virginia

5.3 48

New Mexico

6.1 49

District of Columbia

6.4 50

Alaska

7.2 51

Footnotes
(p) Preliminary

Note: Rates shown are a percentage of the labor force. Data refer to place of residence. Estimates for the current month are subject to revision the following month.