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Public Assets Institute New employment numbers out for September show virtually no growth in 2015. Total employment, which includes the self-employed along with payroll employees, dropped for the second month in a row. There were 2,500 fewer Vermonters working in September than in July. Meanwhile, Vermont unemployment fell from 4.1 percent in January to 3.7 percent last month.

Discouraged and underemployed

Vermont’s official unemployment rate — U-3, to the US Bureau of Labor Statistics — is back where it was before the Great Recession hit in late 2007. But the broadest unemployment indicator, U-6, is still higher than it was. U-6 includes discouraged and underemployed workers — respectively, those who’d like jobs but are not actively looking, and part-timers who would like to work more hours. In 2006 Vermont’s U-6 rate averaged 6.4 percent; in 2014, 8.8 percent.

Rising poverty

Vermont Business Magazine According to The RE/MAX INTEGRA, New England September Monthly Housing Report, year-over-year sales in Vermont increased by 9.8 percent. Pending sales were up 10 percent over September 2014. But home prices were down nearly 1 percent to $195,000, which was the only decline in New England. Despite the brisk number of sales, Vermont ranked lowest in New England. Overall, the residential market in the region remained strong through September 2015, with sales up 15 percent and pending sales up 14 percent over September 2014. New Hampshire led this growth with an impressive 20 percent increase in sales year-over-year, while average days on market in the state decreased by 12.5 percent. Vermont had the highest DOM at 165. Rhode Island was lowest at 65 DOM.

Month-over-month in New England, the market followed traditional seasonal trends with a 10.7 percent decrease in sales and slight decrease in median price.

Vermont Business MagazineVermont Secretary of State Jim Condos announced Thursday the roll-out of a new online voter registration system, “My Voter Page” online voter resource tool, and a new statewide voter checklist and elections management system to be used by all town and city clerks in Vermont.

“Government is strengthened when more Vermonters engage in the electoral process and vote,” said Governor Peter Shumlin. “This is just the latest effort by Secretary Condos to ensure there are no barriers to participation in our democracy. Vermont’s democracy will be a better place for it.”

Vermont Business Magazine HNI Corporation (NYSE: HNI) today Wednesday that sales for the third quarter ended October 3, 2015, of $615.9 million and net income of $40.8 million, or $0.90 per diluted share. Non-GAAP net income per diluted share improved 14.8 percent from the prior year quarter to $0.93, which excludes restructuring and transition costs. Last fall, HNI bought Vermont Castings and announced last spring that it would close certain plants, including one in Vermont. Following its acquistition of Vermont Castings last fall, it announced in March 2015 that it would close the Bethel, Vermont, plant, with the loss of about 40 workers. It also has a larger hearth manufacturing plant in Randolph with about 100 employees.

Vermont Business Magazine If there's one thing that socially responsible businesses have learned, it's that they can't go at it alone. Whether it's implementing responsible sourcing initiatives or creating a positive corporate model to make an impact on sustainability, there is strength in numbers. So where did Vermont-based Ben & Jerry's turn for help and inspiration for its latest ice cream flavor? Colorado-based New Belgium Brewing. Never has the phrase "polishing off a pint" been so perfectly poised in any partnership for a delicious double-entendre.

Vermont Business Magazine iSystems, LLC, the company behind Evolution HCM, has hired Theodore I Les, CPA, as the company's Chief Financial Officer. Les is a finance executive with proven experience and success in growing software-as-a-service (SaaS), technology and service-oriented organizations. With an undergraduate degree in management from Babson College and Executive Program in Business Management from MIT Sloan School of Management, Les started his career with the public accounting firm Arthur Andersen & Company. From there he advanced his financial and business career to hold executive management positions with renowned Internet pioneer Bolt Beranek & Newman (BBN Corp.) and GTE. For the past 15 years, Les served as the CFO for technology innovator Cambridge Research & Instrumentation, Inc (CRi) and Agreements Based Billing market leader MetaTech Corp.

by Mike Faher/The Commons When describing the Vermont Chamber of Commerce’s lobbying efforts, Betsy Bishop employs the standard devices — pie charts, anecdotes, and a few “offense” and “defense” football analogies. But the chamber’s president also has a relatively new tool, and it’s got no pictures or brightly colored graphs. Instead, it’s a dense, still-expanding document running to nearly three pages and featuring more than 50 bullet points detailing taxes, fees, and mandates that have been imposed recently on Vermont residents and businesses — as well as those that could be considered in 2016.

Betsy Bishop

Vermont Business Magazine People's United Bank, NA has announced that its subsidiary, People's United Insurance Agency (PUIA), has acquired Kesten-Brown Insurance, a Bridgeport, CT-based insurance brokerage firm. "We are pleased to announce the acquisition of Kesten-Brown, a firm focused on commercial lines and employee benefits," said Jack Barnes, President and Chief Executive Officer. "This transaction will further diversify revenues through additional non-interest income as well as bolster our insurance business. People's United ranks as the 12th largest bank nationally in terms of insurance brokerage fee income."

"This addition provides us with an opportunity to expand the range of products and services we offer, attracting new clients and providing our existing clients with an even broader array of options for their insurance and risk management needs," said Dan Casey, President and Chief Executive Officer, PUIA.

Vermont Business Magazine Vermont is Number 2... lowest. Consumers save an average of $295 (16 percent) per year when they purchase their car and homeowner's insurance from the same company, according to a new insuranceQuotes.com report. In Vermont it's only $174. The states with the highest average annual savings are Louisiana ($548), Oklahoma ($489), Texas ($429), Mississippi ($405) and Kansas ($403).

Hawaii improved the most from last year (66 percent, from an average savings of $116 to $192), followed closely by Florida (65 percent). Residents of 36 states currently save more by bundling than they did last year.

Idaho ($172), Vermont ($174), Utah ($183), West Virginia ($184) and Virginia ($189) have the lowest average annual savings. In West Virginia, the average bundling discount dropped 26 percent from last year, more than any other state.

Vermont Business Magazine Several Vermont companies were recently recognized for their strong commitment to effective workplace safety at the annual Vermont Safety & Health Council meeting held in Killington, Vermont. The Governor’s Awards for Outstanding Workplace Safety are presented by officials from the Vermont Department of Labor, the Vermont League of Cities & Towns, and the President of the Vermont Safety & Health Council.

The Governor’s Award for Outstanding Workplace Safety is the highest honor given by the State of Vermont to recognize an employer’s commitment to excellence in workplace safety and health policy and practice. These awards recognize specific companies that are committed to effective workplace safety.

Vermont Business Magazine Governor Peter Shumlin has appointed Theresa Wood of Waterbury to the House seat vacated by former State Representative Rebecca Ellis, who resigned from the Legislature in August to join the Shumlin Administration. The Washington-Chittenden district, which Wood will represent, includes the towns of Waterbury, Huntington, Buel’s Gore, and Bolton.

“Theresa is smart and driven and has a record of getting things done,” Shumlin said. “Her experience in both state and local government will serve her well in the Legislature. She cares deeply about helping her community succeed and I have no doubt she will serve her district incredibly well.”

“I am extremely excited and humbled to be appointed by the Governor, and I look forward to the opportunity to serve my district and my state in this new role,” said Ms. Wood.

Vermont Business Magazine The Vermont Chamber of Commerce announced today the highly anticipated 2015-2016 Top Ten Winter Events. Each year, a panel of independent judges chooses Vermont’s best activities, selected for their diversity, wide appeal, and consistency with Vermont's brand. Tori Ossola, Vice President of Tourism noted, “Vermont is known for being a top destination for recreation, scrumptious food, hand-crafted beer, wine and spirits and experiential travel. This year's Vermont Chamber Top Ten Winter Events feature happenings from all regions of the state to appeal to the many interests of our visitors and locals alike.”