Weekly unemployment claims fall to very low level

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Weekly unemployment claims fall to very low level

Fri, 09/01/2017 - 10:42am -- tim

Vermont Business Magazine Weekly unemployment claims fell under 300 claims last week for the first time in memory. Claims had been falling steadily since early July. Claims also are well lower than they were the same time last year, which has been the usual case for most weeks in 2017. For the week of August 26, 2017, there were 282 claims, 84 fewer than than they were last week and 103 fewer than they were a year ago.

Altogether 3,6222 new and continuing claims were filed, a decrease of 170 from a week ago, and 632 fewer than a year ago.

Claims during the summer usually hold at a relatively low level because of vacation hiring, until the next transition when school resumes in September, which it did for most school districts this week.

As expected, by industry, Services accounted for the most claims (49 percent of the total). Construction held steady, but Manufacturing saw a small net decline in claims from last year and a very large drop in claims from a year ago (120 to 28).

The Department processed 0 First Tier claims for benefits under Emergency Unemployment Compensation, 2008 (EUC08).

Vermont's unemployment rate for July was 3.1 percent. This reflects a one-tenth drop from the revised June rate (3.2 percent), as the Labor Force fell. SEE STORY.

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The Unemployment Weekly Report can be found at: http://www.vtlmi.info/. Previously released Unemployment Weekly Reports and other UI reports can be found at: http://www.vtlmi.info/lmipub.htm#uc

VBM vermontbiz.com