Vermont Business Magazine Weekly unemployment claims fell dramatically last week to under 400, which is more typical of a summer-time level, after Manufacturing layoffs caused a spike to 900 claims the week before. There also could be some volatility comingsoon after school lets out. Claims spiked to over 1,100 five weeks ago before falling steadily. Claims are lower than they were the same time last year, which has been the usual case for most weeks in 2017. For the week of May 27, 2017, there were 389 claims, down 511 from the previous week's total and 101 fewer than than they were a year ago.
Altogether 4,349 new and continuing claims were filed, a decrease of 403 from a week ago, and 429 fewer than a year ago.
Claims during the summer hold at a relatively low level because of vacation hiring, until the next transition when school resumes in September.
RELATED STORY: Vermont unemployment rate up one-tenth to 3.1 percent
As expected, by industry, Services reported the most claims (63 percent of the total), which is slightly higher as a percentage than last week but with many fewer actual claims. Most other sectors saw little change, except for Manufacturing, which reported 42 claims. This is a steep decline from 270 claims, an unusually high number, the previous week.
The Department processed 0 First Tier claims for benefits under Emergency Unemployment Compensation, 2008 (EUC08).
Vermont's unemployment rate rose one-tenth to 3.1 percent in April, as the labor force and total employment decreased modestly, while total unemployment increased. SEESTORY.
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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.
