The Vermont Department of Labor announced today the seasonally-adjusted statewide unemployment rate for August 2011 was 5.9 percent, an increase of two-tenths of a percent from the July rate. Compared to a year ago, the rate is lower by one-tenth of a percentage point. Despite the increase, Vermont still has one of the lowest state unemployment rates in the country and is well below the national average of 9.1 percent. Additionally, the current state rate is well below Vermont’s recent high of 7.3 percent percent in May of 2009 which was during the height of the last recession.
The employment numbers do not include the bulk of Hurricane Irene-related impacts, as the storm hit on August 28. However, the first two weeks of September saw a spike in unemployment claims.
‘The employment picture in Vermont has softened as the summer has progressed, and has become complicated by the disruptions to local economies due to the flooding in May and now Hurricane Irene. We anticipate some temporary and permanent worker displacement as a result of the disaster. On the ‘flip side’, we have also seen significant numbers of job openings for cleaning, repair, restoration and demolition work as a result of the hurricane. Also, three industries of note each reported job gains: Professional & Business Services, Local Government, and Trade, Transportation & Utilities Work.
‘It is important for employers and workers to know that resources are available to assist them rebound from the disaster. As a result of the governor’s efforts, Vermont has qualified for Disaster Unemployment Assistance, which has broader eligibility parameters than regular unemployment, including assistance for people who are self-employed. The claims line for new claims is 1-877-214-3330. In addition, the Department of Labor regional Career Centers can match employers with job seekers, and offer a wide array of services that can assist the business community and the public, and those office numbers are posted on our website. We urge the employer community to list your job openings with our offices so that we can help you keep your business moving forward,’ said Labor Commissioner Annie Noonan.
State of Vermont Overview
The Vermont seasonally adjusted unemployment rate increased by two-tenths of a percent in August to 5.9 percent. The comparable rate over the same time period for the United States was unchanged; remaining stable at 9.1 percent. The seasonally-adjusted Vermont data show the total Vermont labor force is unchanged over the month. Total employment declined by 500 while total unemployment increased by 600. None of these over the month changes were statistically significant.
July unemployment rates for Vermont’s 17 labor market areas ranged from 3.7 percent in Hartford to 7.8 percent in Newport (note: local labor market area unemployment rates are not seasonally adjusted). For comparison, the August unadjusted unemployment rate for Vermont was 5.4 percent which reflects a decrease of two-tenths of a percent from the July level and a decline of one-tenth of a percent from a year ago.
Analysis of Job Changes by Industry
The preliminary ‘not seasonally adjusted’ jobs numbers for August show an increase of 1,200 jobs when compared to the revised July numbers. This reported over the month change does not include the 150 job decrease between the preliminary and the revised July estimates due to the inclusion of more data. As detailed in the preliminary ‘not seasonally adjusted’ August data, Total Private reports an increase of 800 jobs and Government reports an increase of 400 jobs. In the private sector, Professional & Business Services (+750 jobs) and Leisure & Hospitality (+650 jobs) reported the largest nominal increases. Reported job declines over the month by industry were minimal with a 350 job loss in the private industry Educational & Health Services being the only one of note.
The seasonally adjusted data for August reports a 1,400 jobs increase from the revised July data. As with the ‘not seasonally adjusted’ data, this over the month change is from the revised July numbers which experienced a downward revision from the preliminary estimates by 200 jobs. A review of the seasonally adjusted August numbers shows the job gains were distributed across both Private and Government employers. Vermont’s Private Industries reported an increase of 800 jobs while Total Government reported a 600 job increase. As with the not-seasonally adjusted data, the seasonally adjusted data had few over the month changes of significant magnitude. The three industries of note each reported job gains: Professional & Business Services (+700 jobs), Local Government (+500 jobs) and Trade, Transportation & Utilities (+400 jobs). All other over the month fluctuations by industry were +/- 200 jobs or less.
Vermont Labor Force Statistics (Seasonally Adjusted)
Changes From
August
2011
July
2011
August
2010
July
2011
August
2010
Total Labor Force
359,800
359,800
360,000
0
-200
Employment
338,800
339,300
338,400
-500
400
Unemployment
21,100
20,500
21,600
600
-500
Rate (%)
5.9
5.7
6.0
0.2
-0.1
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.
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