The Department of Employment and Training announced Thursday a seasonally adjusted unemployment rate of 3.5 percent for Vermont in May. The rate was unchanged from the April estimate, which was revised down one tenth of a percentage point. The national unemployment rate in May held steady at 5.6 percent.
Unemployment rates for Vermonts 13 labor market areas ranged from 1.7 percent in Hartford, to 5.0 percent in Newport. Labor market area rates are not seasonally adjusted; for comparison, the unadjusted rate for Vermont was 3.2 percent.
Improvement in the national economy is providing a healthy foundation for lower unemployment in Vermont, said Anne V. Ginevan, Commissioner of the Department of Employment and Training. Our job market is improving gradually in response to the improved economic climate.
The total seasonally adjusted job estimates have fluctuated in recent months due in part to atypical events in Vermont and the slow national recovery. After edging above 300,000 in January, the number of jobs dipped for the next two winter months. Spring provided a boost for construction activity that was augmented by a large maintenance project for a major electrical generating facility. The latest data reflects the end of the maintenance project and a less vigorous construction industry. Employment in manufacturing and retail trade showed less strength than expected for May, producing seasonally adjusted losses. Leisure and hospitality, however, had a relatively good month and added a modest number of jobs.
Job estimates before seasonal adjustment rebounded by almost 1,000 as warmer weather prompted additional hiring in construction. Administrative and Support services added 450 jobs, which included hiring by temporary help agencies. There were mixed results in leisure and hospitality. Food service and entertainment establishments combined for a gain of about 1,200 jobs; however, lodging establishments offset the gain with seasonal cuts. Employment also fell at state and private colleges due to the start of the summer break. Health care and social assistance showed little change from the previous month. Most of the gain in manufacturing was due to an increase of 100 jobs in computer and electrical equipment manufacturing.
The count of nonfarm jobs was up 0.4 percent, about one percentage point less than last month.
VERMONT SEASONALLY ADJUSTED NONFARM EMPLOYMENT
In Thousands
BY NAICS Prelim. Revised Revised Change From:
May-04 Apr-04 May-03 Apr-04 May-03
Total - All Industries
300.6 300.9 298.5 -0.3 2.1
Private Industries
248.9 249.1 246.6 -0.2 2.3
Construction
15.8 16.1 15.2 -0.3 0.6
Manufacturing
37.0 37.2 37.8 -0.2 -0.8
Retail Trade
* 38.9 39.1 39.3 -0.2 -0.4
Professional & Business Services
20.6 20.6 20.3 0.0 0.3
Private Ed. Services*
12.6 12.7 12.5 -0.1 0.1
Health Care & Social Assistance*
41.0 41.2 39.6 -0.2 1.4
Leisure & Hospitality*
33.1 32.9 32.8 0.2 0.3
Total Government
51.7 51.8 51.9 -0.1 -0.2
Source: Vermont Department of Employment & Training in cooperation with the U.S. Bureau of Labor Statistics, unless otherwise noted.
VERMONT NONFARM EMPLOYMENT, NOT SEASONALLY ADJUSTED
PRELIM REVISED REVISED CHANGES FROM
INDUSTRY BY NAICS
May-04 Apr-04 May-03 Apr-04 May-03
TOTAL NONFARM
299,350 298,400 298,100 950 1,250
TOTAL PRIVATE
245,350 244,100 244,100 1,250 1,250
GOODS PRODUCING
53,850 52,400 54,250 1,450 -400
MANUFACTURING
37,050 36,900 37,750 150 -700
Durable Goods
26,400 26,300 27,150 100 -750
Computer & Electrical Equipment Mfg.
9,300 9,200 9,850 100 -550
Fabricated Metal Products Mfg.
2,900 2,900 2,800 0 100
Machinery Mfg.
3,050 3,050 3,000 0 50
Transportation Equipment Mfg.
2,450 2,450 2,250 0 200
Furniture & Related Product Mfg.
2,500 2,500 2,300 0 200
Non-Durable Goods
10,650 10,600 10,600 50 50
Food Mfg.
3,750 3,700 3,650 50 100
CONSTRUCTION
15,850 14,600 15,550 1,250 300
NATURAL RESOURCES & MINING
950 900 950 50 0
SERVICE-PROVIDING
245,500 246,000 243,850 -500 1,650
TRADE TRANSPORTATION AND UTILITIES
57,400 56,950 57,650 450 -250
Wholesale Trade
10,250 10,200 10,200 50 50
Retail Trade
38,500 38,200 38,850 300 -350
Food & Beverage Stores
9,250 9,100 9,550 150 -300
General Merchandise Store
2,850 2,800 2,850 50 0
Transportation, Warehousing and Utilities
8,650 8,550 8,600 100 50
Utilities
1,750 1,750 1,750 0 0
Transportation & Warehousing
6,900 6,800 6,850 100 50
INFORMATION
6,550 6,450 6,550 100 0
FINANCIAL ACTIVITIES
13,100 13,050 13,150 50 -50
Finance & Insurance
10,050 10,100 10,100 -50 -50
Real Estate, Rental & Leasing
3,050 2,950 3,050 100 0
PROFESSIONAL AND BUSINESS SERVICES
20,850 20,250 20,550 600 300
Professional, Scientific and Technical
12,150 12,050 12,250 100 -100
Administrative, Support and Waste
8,300 7,850 8,050 450 250
EDUCATIONAL AND HEALTH SERVICES
53,750 54,200 52,250 -450 1,500
Educational Services
12,800 13,200 12,700 -400 100
College, Universities and Professional
7,050 7,350 7,000 -300 50
Health Care and Social Assistance
40,950 41,000 39,550 -50 1,400
Ambulatory Health Care Services
15,750 15,750 15,500 0 250
Hospitals
10,300 10,300 10,050 0 250
Nursing and Residential Care Facilities
6,750 6,750 6,600 0 150
LEISURE AND HOSPITILITY
29,750 29,950 29,550 -200 200
Arts, Entertainment and Recreation
3,600 3,100 3,800 500 -200
Accommodation and Food Services
26,150 26,850 25,750 -700 400
Accommodations
8,750 10,150 8,250 -1,400 500
Hotels & Motels
7,850 9,200 7,200 -1,350 650
Food Services and Drinking Places
17,400 16,700 17,500 700 -100
OTHER SERVICES
10,100 10,850 10,150 -750 -50
GOVERNMENT
54,000 54,300 54,000 -300 0
Federal Government
6,100 6,100 6,250 0 -150
State Government Education
7,500 8,500 7,400 -1,000 100
Local Government Education
24,300 24,000 24,350 300 -50
Other State Government
9,200 9,050 9,250 150 -50
Other Local Government
6,900 6,650 6,750 250 150
Source: Vermont Department of Employment & Training in cooperation with the U.S. Bureau of Labor Statistics.
VERMONT
LABOR FORCE AND UNEMPLOYMENT
BY LABOR MARKET AREA
Not Seasonally Adjusted
MAY'04 APR'04 MAY'03
MAY'04 APR'04 MAY'03
BARRE-MONTPELIER
MORRISTOWN-STOWE
Labor Force 40,400 40,550 39,800
Labor Force 17,950 18,900 18,250
Unemployment 1,250 1,550 1,550
Unemployment 750 1,100 950
Rate(%) 3.0 3.8 3.9
Rate(%) 4.2 5.8 5.2
Employment 39,200 39,000 38,250
Employment 17,200 17,800 17,300
BENNINGTON-MANCHESTER
NEWPORT
Labor Force 21,100 21,250 21,600
Labor Force 13,500 13,400 13,500
Unemployment 700 850 1,050
Unemployment 700 950 850
Rate(%) 3.4 4.0 4.8
Rate(%) 5.0 7.1 6.3
Employment 20,400 20,400 20,550
Employment 12,800 12,450 12,650
BURLINGTON
RANDOLPH
Labor Force 108,550 107,550 106,950
Labor Force 6,400 6,550 6,350
Unemployment 2,600 2,900 3,450
Unemployment 250 350 250
Rate(%) 2.4 2.7 3.2
Rate(%) 4.3 5.5 4.1
Employment 106,000 104,650 103,500
Employment 6,150 6,200 6,100
ENOSBURG
RUTLAND
Labor Force 11,100 10,500 11,200
Labor Force 30,900 30,900 30,000
Unemployment 450 600 600
Unemployment 1,500 1,600 1,750
Rate(%) 4.0 5.8 5.4
Rate(%) 4.8 5.1 5.9
Employment 10,650 9,850 10,600
Employment 29,400 29,300 28,200
HARTFORD
ST. JOHNSBURY
Labor Force 29,300 29,150 29,050
Labor Force 14,900 15,100 15,100
Unemployment 500 650 650
Unemployment 500 750 750
Rate(%) 1.7 2.2 2.2
Rate(%) 3.3 5.0 4.9
Employment 28,800 28,500 28,400
Employment 14,400 14,350 14,350
BRATTLEBORO
SPRINGFIELD
Labor Force 23,750 23,950 23,550
Labor Force 9,400 10,100 9,700
Unemployment 950 950 1,000
Unemployment 450 500 700
Rate(%) 3.9 4.0 4.2
Rate(%) 4.9 5.1 7.3
Employment 22,850 23,000 22,550
Employment 8,950 9,600 9,000
MIDDLEBURY
STATEWIDE
Labor Force 21,350 21,000 21,550
Labor Force 348,700 348,850 346,500
Unemployment 500 650 650
Unemployment 11,000 13,400 14,200
Rate(%) 2.2 3.0 3.0
Rate(%) 3.2 3.8 4.1
Employment 20,900 20,350 20,900
Employment 337,700 335,450 332,350
Note: Estimates by place of residence.
Source: Vermont Department of Employment & Training in cooperation with the U.S. Bureau of Labor Statistics.