Weekly unemployment claims remain low

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Weekly unemployment claims remain low

Fri, 06/16/2017 - 9:38am -- tim

Vermont Business Magazine Weekly unemployment claims rose a moderate amount last week but remain under 400, which is low even for the typically low summer-time claims. There still could be some volatility coming soon after school lets out. Claims spiked to over 1,100 seven weeks ago and then again two weeks ago before falling steeply. Claims are lower than they were the same time last year, which has been the usual case for most weeks in 2017. For the week of June 10, 2017, there were 369 claims, up 40 from the previous week's total and 87 fewer than than they were a year ago.

Altogether 3,816 new and continuing claims were filed, a decrease of 117 from a week ago, and 471 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.

As expected, by industry, Services reported the most claims (48 percent of the total), but Manufacturing saw an increase of about 25 claims to 20 percent of the total.

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

Vermont's unemployment rate for May was 3.1 percent. This reflects no change from the revised April rate (3.1 percent). 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

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.