Weekly unemployment claims spike for end of holidays to over 1,500

-A A +A

Weekly unemployment claims spike for end of holidays to over 1,500

Sun, 01/01/2017 - 8:10pm -- tim

Vermont Business Magazine Weekly unemployment claims spiked last week as the usual holiday layoffs hit. While they were up over 700 for the week, they were substantially lower than last year at this time. Most industrial sectors saw at least some increase for the week, except for Construction which already had gone through its seasonal downsizing. Services recorded nearly half of all layoffs, typical of the season. Manufacturing also increased to an unusually high 300 claims. 

The holidays typically produce wild swings in unemployment claims, because of an increase in hiring in the Service sector, from retail to delivery-related businesses, and then an abrupt round of layoffs. 

For the week of December 24, 2016, there were 1,533 claims, up 752 from the previous week's total but 617 fewer than than they were a year ago (2,150).

Altogether 6,352 new and continuing claims were filed, an increase of 1,003 from a week ago, and 484 fewer than a year ago.

The Department processed 0 First Tier claims for benefits under Emergency Unemployment Compensation, 2008 (EUC08).

Vermont's unemployment rate fell one-tenth to 3.2 percent in November, as the labor force fell and total employment increased by a small amount, along with a decrease in the number of unemployed. SEE STORY.

The Unemployment Weekly Report can be found at: http://www.vtlmi.info/. Previously released Unemployment Weekly Reports and other UI reports can be found at: http://www.vtlmi.info/lmipub.htm#uc

NOTE: Employment (nonfarm payroll) - A count of all persons who worked full- or part-time or received pay from a nonagricultural employer for any part of the pay period which included the 12th of the month. Because this count comes from a survey of employers, persons who work for two different companies would be counted twice. Therefore, nonfarm payroll employment is really a count of the number of jobs, rather than the number of persons employed. Persons may receive pay from a job if they are temporarily absent due to illness, bad weather, vacation, or labor-management dispute. This count is based on where the jobs are located, regardless of where the workers reside, and is therefore sometimes referred to as employment "by place of work." Nonfarm payroll employment data are collected and compiled based on the Current Employment Statistics (CES) survey, conducted by the Vermont Department of Labor. This count was formerly referred to as nonagricultural wage and salary employment.