Weekly unemployment claims fall for third week

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Weekly unemployment claims fall for third week

Fri, 05/19/2017 - 12:39pm -- tim

Vermont Business Magazine Weekly unemployment claims fell again last week to under 500, which is more typical of a summer-time level. There could be volatility in the coming weeks after school lets out. Claims during the summer hold at a relatively low level because of vacation hiring, until the next transition when school resumes in September. Claims spiked to over 1,100 three weeks ago. 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 May 13, 2017, there were 425 claims, down 89 from the previous week's total and 131 fewer than than they were a year ago.

Altogether 4,606 new and continuing claims were filed, a decrease of 537 from a week ago, and 729 fewer than a year ago.

RELATED STORY: Vermont unemployment rate up one-tenth to 3.1 percent

As expected, by industry, Services reported the most claims (66 percent of the total), which is about the same as last month, while most other sectors saw little change, with Manufacturing down and Construction up. Services typically reports the most claims.

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

Vermont's unemployment rate rose one-tenth to 3.1 percent in April, as the labor force and total employment decreased modestly, while total unemployment increased.

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.