The Vermont Department of Labor announced today the seasonally adjusted unemployment rate for July 2010 was unchanged from the previous month’s report holding steady at 6.0 percent. Compared to a year ago, the July unemployment rate is lower by 1.1 percent. Compared to the US rate, Vermont is 3.5 points lower than the national average.
‘Based on the preliminary data, the Vermont unemployment rate remained unchanged in the month of July as did the national unemployment rate,’ said Valerie Rickert, Acting Commissioner of the Vermont Department of Labor. ‘The reported dip in employment from last month is related to seasonal influences and was anticipated. The overall trend of the Vermont economy remains stable. Compared to a year ago, there are 4,100 fewer Vermonters reporting being unemployed.’
Analysis of Job Changes by Industry
The preliminary ‘Not Seasonally Adjusted’ jobs numbers for July show a decline of -7,650 jobs when compared to the revised June numbers. While Total Private reports an increase of 2,200 jobs, the decline in Local Government Education of -9,950 offsets reported gains in the private industry. This decline in Local Government Education is typical for July and we anticipate a reversal of course in the September data when public schools are back in session. In July, Manufacturing reported a small pullback of -150 jobs as did Health Care and Social Assistance with an over the month decline of -400. The increase in unadjusted employment in the Private Sector was predominately comprised of an increase of +1,050 in Accommodations & Food Services, +850 jobs in Construction, +650 jobs in Colleges, Universities & Professional, and +350 jobs in Professional, Scientific, and Technical.
The annual rate of unadjusted job growth was -0.6%, which is unchanged from the revised June estimate.
Considering the seasonally adjusted data, the total job loss (-800) in July was broad-based with 500 jobs lost in Private Industries and 300 jobs lost in Total Government. While many industries’ over the month change was flat, three sectors led the overall decline in the seasonally adjusted statistics: Health Care & Social Assistance (-600), Accommodation & Food Services (-200 on the heels of a greater than expected increase last month), and though not published, Federal Government likely had an approximate decline of 900 jobs due predominately to the scale back of intermittent Federal Census workers. For industries with seasonally adjusted job gains, Construction led all private industries with an increase of 600 jobs. Professional, Scientific and Technical Services also had a strong month with an increase of 400 jobs.
State of Vermont Overview
Vermont’s July seasonally adjusted unemployment rate remained the same at 6.0 percent as a result of a relatively greater decline in the number of unemployed versus the reported declines in the labor force and the number employed. For comparison purposes, the US seasonally adjusted unemployment rate for July was 9.5 percent, also unchanged from June.
July unemployment rates for Vermont’s 17 labor market areas ranged from 3.9 percent in Hartford to 7.7 percent in Newport. Local labor market area unemployment rates are not seasonally adjusted. For comparison, the July unadjusted unemployment rate for Vermont was 5.7 percent, which was three tenths of a percentage point lower than the revised June data and down a full percent from a year ago.
Source: Vermont Department of Labor. 8.20.2010
Vermont Labor Force Statistics (Seasonally Adjusted)
Changes From
July
2010
June
2010
July
2009
June
2010
July
2009
Total Labor Force
356,700
358,800
359,300
-2,100
-2,600
Employment
335,500
337,200
333,900
-1,700
1,600
Unemployment
21,300
21,600
25,400
-300
-4,100
Rate (%)
6.0
6.0
7.1
0.0
-1.1
Vermont’s labor force, employment and unemployment statistics are produced from a combination of a Statewide survey of households and statistical modeling. The data are produced by the Local Area Unemployment Statistics Program (LAUS) a cooperative program with the US Department of Labor, Bureau of Labor Statistics and the Vermont Department of Labor.
VERMONT LABOR FORCE AND UNEMPLOYMENT
LABOR MARKET AREAS BY RESIDENCE (Not Seasonally Adjusted)
July 2010 Estimates
Total
Number
Number
July-10
June-10
July-09
Area
Labor Force
Employed
Unemployed
Rate (%)
Rate (%)
Rate (%)
Barre-Montpelier
29,650
27,950
1,700
5.7
5.6
6.6
Bennington
13,000
12,150
850
6.7
6.6
8.2
Bradford
5,000
4,650
350
6.7
6.7
7.1
Brattleboro
24,850
23,400
1,450
5.8
6.2
6.8
Burlington-South Burlington
114,800
109,050
5,800
5.0
5.2
6.1
Hartford
20,850
20,050
800
3.9
4.1
4.2
Manchester
12,250
11,550
750
6.0
6.9
6.8
Middlebury
18,200
17,150
1,050
5.8
6.0
6.5
Morristown-Stowe
20,800
19,550
1,250
6.0
6.4
6.8
Newport
14,000
12,950
1,100
7.7
7.9
8.8
Randolph
8,650
8,100
600
6.7
7.0
7.7
Rutland
27,700
25,800
1,950
7.0
7.6
8.5
Springfield
12,050
11,200
850
7.2
7.5
8.0
St. Johnsbury
14,850
13,950
900
6.1
6.3
7.9
Swanton-Enosburg
14,200
13,350
850
6.0
6.0
7.3
Warren-Waitsfield
4,150
3,950
200
4.5
5.1
5.6
Woodstock
3,850
3,650
150
4.5
4.9
4.8
Vermont Total
361,300
340,600
20,700
5.7
6.0
6.7
Note: Unemployment rate is calculated as the number of unemployed divided by total labor force and expressed as a percent.
Source: Vermont Department of Labor LAUS program in cooperation with the U.S. Bureau of Labor Statistics
Statewide Total - All Industries estimate is seasonally adjusted independently.
Note: Beginning January 2009 Vermont is publishing a seasonally adjusted Total-All Industries estimate for the
Burlington - S. Burlington MSA.
Current Employment Statistics Program (CES). Produced by the Vermont Department of Labor in cooperation with the U.S Bureau of Labor Statistics.
ESTIMATED NONFARM EMPLOYMENT IN VERMONT
(Not Seasonally Adjusted)
Prelim
Revised
Revised
Changes From:
% Changes From:
INDUSTRY BY NAICS
Jul-10
Jun-10
Jul-09
Jun-10
Jul-09
Jun-10
Jul-09
TOTAL NONFARM
287,800
295,450
289,650
-7,650
-1,850
-2.6%
-0.6%
TOTAL PRIVATE
242,750
240,550
244,750
2,200
-2,000
0.9%
-0.8%
GOODS PRODUCING
44,900
44,150
46,800
750
-1,900
1.7%
-4.1%
MANUFACTURING
30,500
30,650
30,750
-150
-250
-0.5%
-0.8%
Durable Goods
21,600
21,700
21,750
-100
-150
-0.5%
-0.7%
Computer & Electrical Equipment Mfg.
7,300
7,400
7,750
-100
-450
-1.4%
-5.8%
Fabricated Metal Products Mfg.
2,450
2,450
2,300
0
150
0.0%
6.5%
Non-Durable Goods
8,900
8,950
9,000
-50
-100
-0.6%
-1.1%
Food Mfg.
4,100
4,050
3,950
50
150
1.2%
3.8%
CONSTRUCTION
13,550
12,700
15,200
850
-1,650
6.7%
-10.9%
MINING & LOGGING
850
800
850
50
0
6.3%
0.0%
SERVICE-PROVIDING
242,900
251,300
242,850
-8,400
50
-3.3%
0.0%
TRADE, TRANSPORTATION AND UTILITIES
55,100
55,200
55,950
-100
-850
-0.2%
-1.5%
Wholesale Trade
10,100
10,050
9,750
50
350
0.5%
3.6%
Retail Trade
36,950
36,750
38,250
200
-1,300
0.5%
-3.4%
Food & Beverage Stores
10,200
10,200
10,100
0
100
0.0%
1.0%
General Merchandise Store
2,950
2,900
2,800
50
150
1.7%
5.4%
Transportation, Warehousing and Utilities
8,050
8,400
7,950
-350
100
-4.2%
1.3%
Utilities
1,750
1,750
1,750
0
0
0.0%
0.0%
Transportation & Warehousing
6,300
6,650
6,200
-350
100
-5.3%
1.6%
INFORMATION
5,200
5,250
5,400
-50
-200
-1.0%
-3.7%
FINANCIAL ACTIVITIES
12,700
12,650
12,600
50
100
0.4%
0.8%
Finance & Insurance
9,600
9,600
9,400
0
200
0.0%
2.1%
Real Estate, Rental & Leasing
3,100
3,050
3,200
50
-100
1.6%
-3.1%
PROFESSIONAL AND BUSINESS SERVICES
22,650
22,200
22,600
450
50
2.0%
0.2%
Professional, Scientific and Technical
13,200
12,850
13,200
350
0
2.7%
0.0%
Administrative, Support and Waste
9,100
9,050
8,950
50
150
0.6%
1.7%
EDUCATIONAL AND HEALTH SERVICES
59,750
60,100
59,600
-350
150
-0.6%
0.3%
Educational Services
12,150
12,100
12,450
50
-300
0.4%
-2.4%
College, Universities and Professional
7,400
6,750
6,950
650
450
9.6%
6.5%
Health Care and Social Assistance
47,600
48,000
47,150
-400
450
-0.8%
1.0%
Ambulatory Health Care Services
15,900
16,050
15,950
-150
-50
-0.9%
-0.3%
Hospitals
13,000
12,950
12,500
50
500
0.4%
4.0%
Nursing and Residential Care Facilities
6,900
6,950
6,950
-50
-50
-0.7%
-0.7%
LEISURE AND HOSPITALITY
32,500
31,150
32,150
1,350
350
4.3%
1.1%
Arts, Entertainment and Recreation
4,550
4,250
4,600
300
-50
7.1%
-1.1%
Accommodation and Food Services
27,950
26,900
27,550
1,050
400
3.9%
1.5%
Accommodations
9,650
8,700
9,700
950
-50
10.9%
-0.5%
Hotels & Motels
8,900
8,200
8,050
700
850
8.5%
10.6%
Food Services and Drinking Places
18,300
18,200
17,850
100
450
0.5%
2.5%
OTHER SERVICES
9,950
9,850
9,650
100
300
1.0%
3.1%
GOVERNMENT
45,050
54,900
44,900
-9,850
150
-17.9%
0.3%
Federal Government
6,750
7,550
6,450
-800
300
-10.6%
4.7%
State Government Education
6,200
6,400
6,200
-200
0
-3.1%
0.0%
Local Government Education
14,500
24,450
14,250
-9,950
250
-40.7%
1.8%
Other State Government
9,850
9,000
10,250
850
-400
9.4%
-3.9%
Other Local Government
7,750
7,500
7,750
250
0
3.3%
0.0%
Note: CES PROGRAM DATA ARE PRDUCED IN COOPERATION WITH THE U.S. BUREAU OF LABOR STATISTICS
ESTIMATES ARE PRELIMINARY AND SUBJECT TO REVISION. SEE ANNUAL SUMMARY FOR DETAILS