Current News

Mortgage data from February indicate that Vermont, like the rest of the nation, continues to see a drop in home foreclosures and delinquent mortgage loans. Vermont fell to 6.9 percent of all mortgages (third lowest in the East among states) while the national rate also fell to 6.9 percent. Vermont's "bad mortgage" rate has fallen 15.4 percent from a year ago. As "short sales" and bank-owned properties continue to lessen, home prices should continue to rise, with the caveat that the economy continues to grow and interest rates continue to stay low.

by Governor Peter Shumlin The millions of Americans who gathered in communities across the nation for the first Earth Day in 1970 succeeded in making progress on the major environmental challenges of that time. That sense of common purpose in protecting our air, water, wildlife, and lands spurred action that led to the creation of the EPA and strong bi-partisan support for new landmark clean air, clean water, and environmental protection laws.

As Vermonters celebrate Earth Day 2015 (April 22), we do so knowing that we face our own environmental challenges that present enormous risks for our state, nation, and world. But we also know that if we play a leadership role in addressing those challenges there are enormous opportunities to create good jobs that will keep young Vermonters in this state and save money on our energy bills all while doing the right thing for our planet and future generations.

by Public Assets Institute More than 1,200 Vermonters left the unemployment lines so far this year, but they didn’t all go back to work. In the first three months of 2015, employment — including self-employment — rose by 687, to 335,006. Meanwhile, the labor force — people working or seeking work—shrank by 577. During the same period, Vermont employers reported adding 1,900 non-farm payroll jobs.

The legacy of two recessions

In the first decade of this century, two recessions wiped out many more jobs than Vermont’s private sector could create. For the last few years, Vermont has seen more gains than losses. But despite state and federal tax breaks intended to stimulate employment, private employers are still not matching the job growth of the 1990s.

New Hampshire Thrift Bancshares, Inc (NASDAQ: NHTB), the holding company for Lake Sunapee Bank, fsb, today announced results for the quarter ended March 31, 2015. Consolidated net income for the first quarter of 2015 was $2.3 million, or $0.28 per diluted common share, compared to $2.1 million, or $0.25 per diluted common share, for the same period in 2014 and $2.9 million, or $0.34 per diluted common share, for the fourth quarter of 2014. Lake Sunapee Bank has branches in New Hampshire and Vermont.

by Maureen Cregan Connolly, Home Builders and Remodelers Association The Small Business Administration (SBA) regulations indicate that 96.3% of businesses in Vermont are classified as small businesses. According to the SBA more than 75% of Vermont businesses have no employees, and the majority of the remaining employers have fewer than 20 employees. The practice of contracting services as needed is the framework that allows these businesses to shrink and grow in response to economic conditions. Contracting with other small businesses allows for flexibility and keeps them nimble to client need and accommodates economic fluctuations. It’s just the way the Vermont economy has worked—and until recently Vermont has been relatively small-business friendly.

In order to help people with criminal convictions find employment and build successful lives, Governor Peter Shumlin today signed an Executive Order to implement a ‘ban the box’ state hiring policy and highlighted progress of a bill to expand Vermont’s expungement law. The ‘ban the box’ Executive Order removes questions about criminal records from the very first part of job applications for state employment.

Agencies will continue to conduct background checks, but only after an applicant has otherwise been found qualified for the position. The policy will prevent applicants from being immediately screened out of state jobs because of a criminal conviction. The policy will not apply to law enforcement, corrections, or other sensitive positions. A number of states, including Virginia, Georgia, and Nebraska, as well as the District of Columbia, have taken similar actions to combat hiring discrimination against workers with criminal records.

The Princeton Review has released its sixth annual guide to the most environmentally responsible colleges — a listing of the schools with "the most exceptional commitments to sustainability based on their academic offerings and career preparation for students, campus policies, initiatives, and activities." The University of Vermont is ranked 10th.

UVM scores highly for its percent of LEED-certified campus buildings constructed or renovated in the past three years — 93 percent — and for the percent of school energy that comes from renewable resources — 88 percent. Also of note in the guide is UVM's support for alternative transportation, from free transit passes and a free campus shuttle to a bike share program, secure bike storage, and showers and lockers for bicycle commuters.

Coldwell Banker Hickok & Boardman Realty has released its "Northwest Vermont Market Report: Spring 2015." Overall, despite the tough winter weather, sales of residential properties rose in Chittenden, Franklin, and Addison County. Grand Isle County saw a decline in activity - however the county typically has the least amount of activity and one sale can have a relatively large impact on trends.

The report finds that while employers are hiring and the unemployment rate continues to drop - wage growth continues to lag putting pressure on consumer spending. During the past two years, home price appreciation has outpaced wage growth in the majority of US housing markets, creating affordability challenges for some buyers.

The Vermont Department of Taxes today announced its 50,000th electronic property transfer tax (ePTTR) return since the online application first launched in 2011.

The Vermont Department of Labor announced today that the seasonally-adjusted statewide unemployment rate for March was 3.8 percent. This represents a decrease of one-tenth of a percent from the revised February rate (3.9 percent). The national average in March was 5.5 percent, which experienced no change from the previous month’s estimate. Vermont’s unemployment rate was lowest in the East and again tied for sixth lowest in the country. March represents the sixth consecutive month without an increase to the unemployment rate.

SEE TABLES BELOW: By Vermont Labor Market Area, By Industry, By State

For those who have sustained a serious injury, it is important to know when it’s okay to return to work. SVHC has a new service that removes the guess work. Michaelia Dix, occupational therapist at SVHC Outpatient Rehabilitation, has completed an advanced training course in performing Functional Capacity Evaluations (FCE) from Roy Matheson’s System for Functional Capacity Evaluations.

“Michaelia’s interest in performing Functional Capacity Evaluations will be a welcome service for patients, providers, and employers who want to know if their strength and endurance have returned after an injury,” said Mark Epler, physical therapist with SVHC Outpatient Rehabilitation.

FCEs are a systematic way of assessing an individual's physical capacities and functional abilities. The assessment evaluates physical abilities through use of standardized tests, including grip strength and dexterity, for instance.

To address the problem of abandoned dog poo, the Lake Champlain Committee (LCC) and community partners are hosting April Stools' Day events to clean up parks and trails and protect waterways. Organized clean ups will take place on Wednesday, April 22 from 9:00 AM - 11:00 AM at Burlington's Oakledge Park and on Saturday, April 25 in Bristol, St. Albans and Williston. Additional "scoop the poop" events will be held in other communities in May. Gloves, bags, trowels, pails and hand sanitizers will be provided. Participants who doggedly pursue the poo will receive a package of lake note cards (while supplies last) and be entered into a drawing for cash prizes of $25, $50 and $100.

Q: What's worse than picking up dog poop?
A: Stepping in it.