The Vermont Department of Labor announced today the seasonally adjusted unemployment rate for October 2010 was 5.7 percent which is a decrease of one tenth of a percent from the previous month’s reported level of 5.8 percent. Vermont has the fifth lowest rate in the nation. New Hampshire is fourth at 5.4 percent. Vermont also added 700 jobs in one month and 1,900 jobs since October 2009.
Compared to a year ago, the October unemployment rate is lower by a full percentage point. Since the start of the calendar year, the Vermont seasonally adjusted unemployment rate has followed a downward trend. In January it was 6.7 percent, followed by February and March at 6.6 percent. Then the next three months each saw declines of two tenths of percent to put the state rate at 6.0 percent in June, where it stayed for three consecutive months until the September announcement of 5.8 percent.
‘While based on preliminary numbers, we are seeing positive year over year job growth for the first time since May of 2008,’ said Valerie Rickert, Acting Commissioner of the Vermont Department of Labor. ‘In addition, the state has seen two consecutive months of increased employment and decreased unemployment. The current trend is positive as is evidenced by the full percent decline in unemployment since the beginning of the year,’ Rickert continued.
Analysis of Job Changes by Industry
The preliminary ‘not seasonally adjusted’ jobs numbers for October show an increase of 3,550 jobs when compared to the revised September numbers. This reported over the month change does not include the 450 job increase between the preliminary and the revised September estimates due to the revision process and the inclusion of more sample data. As detailed in the preliminary October data, Total Private reports an increase of 1,100 jobs and Government reports an increase of 2,450 jobs. The bulk of the increase in Government jobs was from State and Local Government Education (+900 and +1,450, respectively). In the private sector, Education and Health Services led all industries with an increase of by 900 jobs. Retail Trade and Financial Activities each showed positive gains of 550 jobs. Lastly, Manufacturing continued its recent strong performance with an increase of 250 jobs.
The annual rate of unadjusted job growth was positive for the first time since May of 2008 (+0.1%). This is greater than the revised September estimate by three tenths of a percent.
The seasonally adjusted data for October reports an increase of 1,800 jobs from the revised September data. As with the ‘not seasonally adjusted’ data, this over the month change is from the revised September numbers which experienced a positive revision from the preliminary September estimates (+400 jobs). A review of the seasonally adjusted numbers shows Vermont’s Private Industries with a positive job gain of 1,500 jobs. The two industries which most contributed to the net job gains in Total Private Industries were Education and Health Services (+1,000) and Financial Activities (+600). Total Government also increased by 300 jobs.
State of Vermont Overview
Vermont’s seasonally adjusted unemployment was 5.7 percent in October. The underlying data showed increases to the labor force (+500) and total employment (+700), and a decrease to total unemployment (-300). For comparison purposes, the United States seasonally adjusted unemployment rate for September was 9.6 percent.
October unemployment rates for Vermont’s 17 labor market areas ranged from 4.0 percent in Hartford to 7.8 percent in Newport. Local labor market area unemployment rates are not seasonally adjusted. For comparison, the October unadjusted unemployment rate for Vermont was 5.1 percent, which was two tenths of a percentage point lower than the revised September data and down one percent from a year ago.
Nationally, regional and state unemployment rates were little changed in October. Nineteen states
and the District of Columbia recorded unemployment rate decreases, 14 states regis-
tered rate increases, and 17 states had no rate change, the U.S. Bureau of Labor
Statistics reported today. Twenty-nine states and the District of Columbia posted
unemployment rate decreases from a year earlier, 16 states reported increases, and
5 states had no change. The national jobless rate was unchanged in October at 9.6
percent but was down from 10.1 percent a year earlier.
In October, nonfarm payroll employment increased in 41 states and the District of
Columbia, decreased in 6 states, and was unchanged in 3 states. The largest over-
the-month increases in employment occurred in Texas (+47,900), New York (+40,600),
California (+38,900), Michigan (+19,000), and Arkansas (+17,400). The largest over-
the-month percentage increases in employment were in Arkansas (+1.5 percent), New
Mexico (+0.8 percent), and Maine and North Dakota (+0.7 percent each). The largest
over-the-month employment decreases were in Delaware (-3,000), Missouri (-2,900),
and Nevada and Virginia (-2,200 each). The largest over-the-month percentage de-
creases in employment occurred in Delaware (-0.7 percent), Nevada (-0.2 percent),
and Missouri and Virginia (-0.1 percent each). Over the year, nonfarm payroll
employment increased in 36 states and the District of Columbia and decreased in
14 states. The largest over-the-year percentage increase in employment was
reported in the District of Columbia (+2.9 percent), followed by New Hampshire
(+2.6 percent), Texas (+1.7 percent), and Minnesota and North Dakota (+1.6 percent
each). The largest over-the-year percentage decrease in employment occurred in
Nevada (-2.4 percent), followed by New Jersey (-1.0 percent), Montana (-0.9 percent),
Rhode Island (-0.8 percent), and Missouri (-0.7 percent).
Regional Unemployment (Seasonally Adjusted)
The West reported the highest regional unemployment rate in October, 10.8 percent,
while the Northeast recorded the lowest rate, 8.5 percent. No region experienced a
statistically significant over-the-month unemployment rate change, but the Midwest
and Northeast registered significant rate changes from a year earlier (-0.8 and -0.5
percentage point, respectively). (See table 1.)
Among the nine geographic divisions, the Pacific continued to report the highest
jobless rate, 11.5 percent in October. The West North Central registered the lowest
rate, 7.1 percent, followed by the West South Central, at 7.9 percent. The only div-
ision with a statistically significant over-the-month unemployment rate change was
New England (-0.2 percentage point). Over the year, two divisions posted measurable
rate decreases: the East South Central (-1.3 percentage points) and East North Central
(-0.9 point). The Mountain experienced the only statistically significant unemployment
rate increase from a year earlier (+0.6 percentage point).
State Unemployment (Seasonally Adjusted)
Nevada continued to register the highest unemployment rate among the states, 14.2
percent in October. The states with the next highest rates were Michigan, 12.8 per-
cent, and California, 12.4 percent. North Dakota reported the lowest jobless rate,
3.8 percent, followed by South Dakota and Nebraska, at 4.5 and 4.7 percent, respec-
tively. In total, 27 states posted jobless rates significantly lower than the U.S.
figure of 9.6 percent, 5 states recorded measurably higher rates, and 18 states and
the District of Columbia had rates that were not appreciably different from that of
the nation. (See tables A and 3.)
In October, two states experienced statistically significant unemployment rate changes
from September: Maine and Massachusetts (-0.3 percentage point each). The remaining 48
states and the District of Columbia registered jobless rates that were not measurably
different from those of a month earlier, though some had changes that were at least as
large numerically as the significant changes.
Eleven states reported statistically significant over-the-year jobless rate decreases
in October, the largest of which were in Alabama (-1.9 percentage points) and Michigan
(-1.6 points). The District of Columbia also posted a significant over-the-year
unemployment rate decrease (-1.7 percentage points). Utah recorded the only significant
rate increase from October 2009 (+0.9 percentage point). The remaining 38 states regis-
tered unemployment rates that were not appreciably different from those of a year earlier.
(See table B.)
Nonfarm Payroll Employment (Seasonally Adjusted)
Between September and October, 18 states recorded statistically significant changes in
employment. The largest over-the-month statistically significant job gains occurred in
Texas (+47,900), New York (+40,600), and California (+38,900). The only over-the-month
statistically significant job loss occurred in Delaware (-3,000). (See tables C and 5.)
Over the year, 12 states and the District of Columbia reported statistically signif-
icant employment increases, while one state experienced a statistically significant
decline in employment. The largest statistically significant over-the-year employment
increases were posted in Texas (+172,800), Pennsylvania (+48,800), and Minnesota
(+42,000). The only statistically significant over-the-year job loss occurred in New
Jersey (-37,100). (See table D.)
_____________
The Metropolitan Area Employment and Unemployment news release for October is
scheduled to be released on Tuesday, December 7, 2010, at 10:00 a.m. (EST). The
Regional and State Employment and Unemployment news release for November is scheduled
to be released on Friday, December 17, 2010, at 10:00 a.m. (EST).
Table A. States with unemployment rates significantly differ-
ent from that of the U.S., October 2010, seasonally adjusted
--------------------------------------------------------------
State | Rate(p)
--------------------------------------------------------------
United States (1) ...................| 9.6
|
Alaska ..............................| 7.9
Arkansas ............................| 7.8
California ..........................| 12.4
Colorado ............................| 8.4
Delaware ............................| 8.3
Florida .............................| 11.9
Hawaii ..............................| 6.4
Iowa ................................| 6.7
Kansas ..............................| 6.7
Louisiana ...........................| 8.1
|
Maine ...............................| 7.4
Maryland ............................| 7.4
Massachusetts .......................| 8.1
Michigan ............................| 12.8
Minnesota ...........................| 7.1
Montana .............................| 7.3
Nebraska ............................| 4.7
Nevada ..............................| 14.2
New Hampshire .......................| 5.4
New Mexico ..........................| 8.4
|
New York ............................| 8.3
North Dakota ........................| 3.8
Oklahoma ............................| 6.9
Pennsylvania ........................| 8.8
Rhode Island ........................| 11.4
South Dakota ........................| 4.5
Texas ...............................| 8.1
Utah ................................| 7.6
Vermont .............................| 5.7
Virginia ............................| 6.8
Wisconsin ...........................| 7.8
Wyoming .............................| 6.7
--------------------------------------------------------------
1 Data are not preliminary.
p = preliminary.
Table B. States with statistically significant unemployment rate changes
from October 2009 to October 2010, seasonally adjusted
-------------------------------------------------------------------------
| Rate |
|-----------|-----------| Over-the-year
State | October | October | rate change(p)
| 2009 | 2010(p) |
-------------------------------------------------------------------------
Alabama ........................| 10.8 | 8.9 | -1.9
District of Columbia ...........| 11.4 | 9.7 | -1.7
Illinois .......................| 10.9 | 9.8 | -1.1
Michigan .......................| 14.4 | 12.8 | -1.6
New Hampshire ..................| 6.8 | 5.4 | -1.4
New York .......................| 8.9 | 8.3 | -.6
North Carolina .................| 10.9 | 9.6 | -1.3
North Dakota ...................| 4.3 | 3.8 | -.5
South Carolina .................| 12.2 | 10.7 | -1.5
Tennessee ......................| 10.8 | 9.4 | -1.4
| | |
Utah ...........................| 6.7 | 7.6 | .9
Vermont ........................| 6.7 | 5.7 | -1.0
Wisconsin ......................| 8.7 | 7.8 | -.9
-------------------------------------------------------------------------
p = preliminary.
Table C. States with statistically significant employment changes from
September 2010 to October 2010, seasonally adjusted
--------------------------------------------------------------------------
| September | October | Over-the-month
State | 2010 | 2010(p) | change(p)
--------------------------------------------------------------------------
Arizona.......................| 2,398,600 | 2,413,100 | 14,500
Arkansas......................| 1,155,400 | 1,172,800 | 17,400
California....................| 13,818,600 | 13,857,500 | 38,900
Delaware......................| 416,000 | 413,000 | -3,000
Hawaii........................| 588,100 | 591,700 | 3,600
Iowa..........................| 1,471,100 | 1,479,200 | 8,100
Maine.........................| 588,300 | 592,500 | 4,200
Massachusetts.................| 3,175,500 | 3,185,500 | 10,000
Michigan......................| 3,821,900 | 3,840,900 | 19,000
Minnesota.....................| 2,657,500 | 2,671,600 | 14,100
| | |
New Mexico....................| 804,500 | 810,800 | 6,300
New York......................| 8,479,000 | 8,519,600 | 40,600
North Dakota..................| 370,300 | 372,800 | 2,500
Oregon........................| 1,594,700 | 1,602,300 | 7,600
Pennsylvania..................| 5,602,200 | 5,618,100 | 15,900
Tennessee.....................| 2,609,800 | 2,618,500 | 8,700
Texas.........................| 10,353,300 | 10,401,200 | 47,900
Vermont.......................| 294,200 | 296,000 | 1,800
--------------------------------------------------------------------------
p = preliminary.
Table D. States with statistically significant employment changes from
October 2009 to October 2010, seasonally adjusted
--------------------------------------------------------------------------
| October | October | Over-the-year
State | 2009 | 2010(p) | change(p)
--------------------------------------------------------------------------
Arizona.......................| 2,388,900 | 2,413,100 | 24,200
Arkansas......................| 1,157,700 | 1,172,800 | 15,100
District of Columbia..........| 703,600 | 724,300 | 20,700
Maryland......................| 2,503,000 | 2,531,400 | 28,400
Massachusetts.................| 3,148,200 | 3,185,500 | 37,300
Minnesota.....................| 2,629,600 | 2,671,600 | 42,000
New Hampshire.................| 621,300 | 637,500 | 16,200
New Jersey....................| 3,867,600 | 3,830,500 | -37,100
North Dakota..................| 367,000 | 372,800 | 5,800
Oklahoma......................| 1,524,700 | 1,543,300 | 18,600
| | |
Pennsylvania..................| 5,569,300 | 5,618,100 | 48,800
Tennessee.....................| 2,596,300 | 2,618,500 | 22,200
Texas.........................| 10,228,400 | 10,401,200 | 172,800
Virginia......................| 3,603,800 | 3,636,800 | 33,000
--------------------------------------------------------------------------
p = preliminary.
Source: US Bureau of Labor Statistics. 11.23.2010