by Timothy McQuiston Vermont Business Magazine The Vermont Department of Labor announced today that the seasonally-adjusted statewide unemployment rate for July was 3.6 percent. This represents no change from the revised June rate (3.6 percent). The national average in July was 5.3 percent, which also experienced no change from the previous month’s estimate. Vermont showed only modest gains in the Labor Force and number of Employed from June but greater gains from last July. Vermont’s unemployment rate is tied for third lowest in the nation with Utah, behind only North Dakota (3.0 percent) and Nebraska (2.7 percent). New Hampshire is tied for fifth with Hawaii at 5.7 percent. West Virginia was last at 7.5 percent.
Every Labor Market in the state had a lower unemployment rate year-over-year except St Johnsbury, which remained at 4.8 percent. Derby, Morristown-Waterbury and Springfield were down the most by 0.7 percent. The Burlington area had the lowest rate at 3.0 percent and Bennington and Derby had the highest rates (4.9 percent), though Bennington was down 0.3 percent from a year ago (local labor market area unemployment rates are not seasonally adjusted). July represents the tenth consecutive month without an increase to the Vermont unemployment rate.
“The last few months have seen little change from the slow, but positive, trend of the Vermont economy. The only large change in the data was the seasonally-expected end of the public education school year. Over these next few months, we may have more clarity on the long term outlook for the economy as the national economic ‘drivers’, such as interest rates, are decided. The good news is that there is still a strong demand from Vermont employers for workers in many areas of our economy. Individuals looking for work or career changes should visit their local Vermont DOL Career Resource Center. In addition, check out VDOL’s website for information on Employer Hiring Events and VDOL-sponsored Job Fairs, such as the large job fair being held at the Sheraton in South Burlington on Tuesday, September 15th. The VDOL staff at our local career center offices can help you identify current job opportunities, identify education and job training programs, and help connect you with the hiring employers”, said Labor Commissioner Annie Noonan.
The seasonally adjusted Vermont data for July show the Vermont civilian labor force increased by 400 from the prior month estimate. The number of employed increased by 400 and the number of unemployed did not change. None of the over-the-month changes were statistically significant in the seasonally-adjusted series.
For comparison, the July unadjusted unemployment rate for Vermont was 3.6 percent which reflects no change from the revised June level and a decrease of five-tenths of a percentage point from a year ago.
Not Seasonally Adjusted
The preliminary ‘not-seasonally-adjusted’ jobs estimates for July show a decrease of 4,800 jobs when compared to the revised June numbers. There was an increase of 300 jobs between the preliminary and the revised June estimates due to the inclusion of more data. The monthly decrease seen in the July numbers was attributable to seasonal decreases related to public education. The broader economic trends can be detected by focusing on the over-the-year changes in this data series. As detailed in the preliminary ‘not-seasonally-adjusted’ July data, Total Private industries have increased by 4,900 jobs (1.9 percent) and Government employment increased by 300 jobs (0.6 percent) in the past year.
Seasonally Adjusted
The seasonally adjusted data for July reports a decrease of 200 jobs from the revised June data. As with the ‘not-seasonally-adjusted’ data, this over-the-month change is from the revised June numbers which experienced a 300 job increase from the preliminary estimates. The seasonally adjusted over-the-month changes in July were varied at the sectorial level. Those with a notable percent increase include: Other Services (+300 jobs or +2.9%) and Education and Health Services (+600 jobs or +0.9%). Industries with a notable percent decrease include: Financial Activities (-400 jobs or -3.3%), State Government (-400 jobs or -2.1%) and Professional and Business Services (- 300 jobs or -1.1%).
| Unemployment Rates for States Monthly Rankings Seasonally Adjusted July 2015p |
||
|---|---|---|
| Rank | State | Rate |
| 1 | NEBRASKA | 2.7 |
| 2 | NORTH DAKOTA | 3.0 |
| 3 | UTAH | 3.6 |
| 3 | VERMONT | 3.6 |
| 5 | HAWAII | 3.7 |
| 5 | NEW HAMPSHIRE | 3.7 |
| 7 | IOWA | 3.8 |
| 7 | SOUTH DAKOTA | 3.8 |
| 9 | MINNESOTA | 4.0 |
| 9 | MONTANA | 4.0 |
| 11 | IDAHO | 4.1 |
| 11 | WYOMING | 4.1 |
| 13 | TEXAS | 4.2 |
| 14 | COLORADO | 4.3 |
| 15 | OKLAHOMA | 4.5 |
| 16 | KANSAS | 4.6 |
| 16 | MAINE | 4.6 |
| 16 | WISCONSIN | 4.6 |
| 19 | DELAWARE | 4.7 |
| 19 | INDIANA | 4.7 |
| 19 | MASSACHUSETTS | 4.7 |
| 22 | VIRGINIA | 4.8 |
| 23 | OHIO | 5.0 |
| 24 | KENTUCKY | 5.2 |
| 24 | MARYLAND | 5.2 |
| 26 | MICHIGAN | 5.3 |
| 26 | WASHINGTON | 5.3 |
| 28 | CONNECTICUT | 5.4 |
| 28 | FLORIDA | 5.4 |
| 28 | NEW YORK | 5.4 |
| 28 | PENNSYLVANIA | 5.4 |
| 32 | ARKANSAS | 5.6 |
| 33 | TENNESSEE | 5.7 |
| 34 | ILLINOIS | 5.8 |
| 34 | MISSOURI | 5.8 |
| 34 | RHODE ISLAND | 5.8 |
| 37 | NEW JERSEY | 5.9 |
| 37 | NORTH CAROLINA | 5.9 |
| 37 | OREGON | 5.9 |
| 40 | GEORGIA | 6.0 |
| 41 | ARIZONA | 6.1 |
| 42 | ALABAMA | 6.2 |
| 42 | CALIFORNIA | 6.2 |
| 42 | LOUISIANA | 6.2 |
| 45 | SOUTH CAROLINA | 6.4 |
| 46 | MISSISSIPPI | 6.5 |
| 46 | NEW MEXICO | 6.5 |
| 48 | ALASKA | 6.7 |
| 49 | DISTRICT OF COLUMBIA | 6.8 |
| 49 | NEVADA | 6.8 |
| 51 | WEST VIRGINIA | 7.5 |
p = preliminary.
NOTE: Rates shown are a percentage of the labor force. Data refer to place of residence. Estimates for the current month are subject to revision the following month.
Last Modified Date: August 21, 2015