The Vermont Department of Labor announced today that the seasonally-adjusted statewide unemployment rate for January 2012 was 5.0 percent, a decrease of two-tenths of a percent from the revised December 2011 rate. At 5.0 percent, Vermont’s seasonally adjusted unemployment rate is the lowest in New England and ranks as the fourth lowest in the United States. The comparable national rate for January 2012 is 8.3 percent; also a decline of two-tenths of a percent from the previous month. The Vermont rate is the lowest it's been since August 2008 (4.9 percent).
‘Recent economic data has been positive and reflects signs of the economic recovery. Vermont’s unemployment rate of 5.0 percent places the state as the 4th lowest unemployment rate in the nation. The Vermont Department of Labor continues to address current and future labor force challenges through both job placement services and training
Vermont Labor Force Statistics (Seasonally Adjusted)
Changes From
January
2012
December
2011
January
2011
December
2011
January
2011
Total Labor Force
360,600
360,400
360,200
200
400
Employment
342,400
341,700
338,500
700
3,900
Unemployment
18,200
18,800
21,600
-600
-3,400
Rate (%)
5.0
5.2
6.0
-0.2
-1.0
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.
programs that meet the needs of Vermont employers. We are working to ensure that Vermont addresses the needs of young people, returning veterans, long-term unemployed, dislocated workers, and individuals with employment barriers including new-Americans and mature workers. Workers transitioning into the labor force may be well-suited to programs such as VDOL’s Apprenticeship or Internship programs, career readiness certificate, On-the-Job Training Programs through our regional Career Resource Centers,’ said Department of Labor Commissioner Annie Noonan.
State of Vermont Overview
The Vermont seasonally adjusted unemployment rate decreased by two-tenths of a percent in January to 5.0 percent. The comparable rate over the same time period for the United States was 8.3 percent, a decrease of two-tenths of a percent from the prior month. The seasonally adjusted Vermont data show the total Vermont labor force increased by 200. Total employment increased by 700 while total unemployment decreased by 600.
January unemployment rates for Vermont’s 17 labor market areas ranged from 3.2 percent in Warren-Waitsfield to 9.5 percent in Newport (note: local labor market area unemployment rates are not seasonally adjusted). For comparison, the January unadjusted unemployment rate for Vermont was 5.6 percent which reflects an increase of seven-tenths of a percent from the December 2011 level and a decline of one and three-tenths of a percent from a year ago.
Analysis of Job Changes by Industry
The preliminary ‘not seasonally adjusted’ jobs estimates for January show a decrease of 7,850 jobs when compared to the revised December numbers. This reported over the month change does not include the 2,650 job decrease between the preliminary and the revised December estimates due to the annual benchmarking process. As detailed in the preliminary ‘not seasonally adjusted’ January estimates, there was increased volatility within sectors and sub-sectors which can be typical during the month of January. The broader economic trends can be detected by focusing on the changes between January 2012 and January 2011. Over the year changes of note include: Construction (+850 jobs or +7.4%), Professional & Business Services (+1,850 jobs or +8.0%) and Government (-1,550 jobs or -2.8%).
The seasonally adjusted data for January reports a decrease of 300 jobs from the revised December data which indicates the large over the month change reported above is typical for January. As with the ‘not seasonally adjusted’ data, this over the month change is from the revised December numbers which experienced a downward revision from the preliminary estimates by 1,600 jobs. A review of the seasonally adjusted January numbers reflects that Vermont’s Private Industries reported an increase of 200 jobs while Total Government reported a decrease of 500 jobs. Many over the month changes at the sector level were minor. Trade, Transportation & Utilities (+600 jobs), Construction (+300 jobs) and Manufacturing (+300 jobs) all reported job gains. The most notable job declines were in Leisure & Hospitality (-600 jobs) and State Government (-200 jobs).
States with statistically significant unemployment rate changes
from January 2011 to January 2012, seasonally adjusted
-------------------------------------------------------------------------
| Rate |
|-----------|-----------| Over-the-year
State | January | January | change(p)
| 2011 | 2012(p) |
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Alabama ........................| 9.3 | 7.8 | -1.5
California .....................| 12.1 | 10.9 | -1.2
Colorado .......................| 8.8 | 7.8 | -1.0
Connecticut ....................| 9.3 | 8.0 | -1.3
Florida ........................| 10.9 | 9.6 | -1.3
Georgia ........................| 10.1 | 9.2 | -.9
Kansas .........................| 6.9 | 6.1 | -.8
Maine ..........................| 8.0 | 7.0 | -1.0
Maryland .......................| 7.3 | 6.5 | -.8
Michigan .......................| 10.9 | 9.0 | -1.9
| | |
Minnesota ......................| 6.8 | 5.6 | -1.2
Missouri .......................| 9.0 | 7.5 | -1.5
Ohio ...........................| 9.0 | 7.7 | -1.3
Oregon .........................| 9.9 | 8.8 | -1.1
South Carolina .................| 10.6 | 9.3 | -1.3
South Dakota ...................| 5.0 | 4.2 | -.8
Tennessee ......................| 9.5 | 8.2 | -1.3
Texas ..........................| 8.1 | 7.3 | -.8
Utah ...........................| 7.5 | 5.7 | -1.8
Vermont ........................| 6.0 | 5.0 | -1.0
Washington .....................| 9.6 | 8.3 | -1.3
Wisconsin ......................| 7.7 | 6.9 | -.8
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p = preliminary.
Vermont, US Depts of Labor 3.13.2012