Vermont Business Magazine While Vermont's unemployment rate stayed at the same level it's been for three months, all three of the key elements continued to improve slightly, as the Labor Force increased, Employment was up and Unemployment was down. The Vermont Department of Labor announced today that the seasonally-adjusted statewide unemployment rate for June was 3.6 percent. This represents no change from the revised May rate (3.6 percent). The national average in June was 5.3 percent, which experienced a decrease of two-tenths of a percentage point from the previous month’s estimate. Vermont’s unemployment rate is fourth lowest in the country and New Hampshire (3.8 percent) is sixth (see states list below). June represents the ninth consecutive month without an increase to the unemployment rate.
“We are pleased to see the bounce back in the employment numbers. Overall, in the past 12- months, the private sector in Vermont has added an estimated 4,000 jobs. This growth in the Vermont economy has not been found in just one industry but across many business sectors. The industry diversity of the Vermont economy continues to be a source of stability as broad based growth is easier to sustain than following the ups and downs of any one particular industry. This diversity translates into employment opportunities for Vermonters of all skill sets, educational experiences and professional backgrounds. Visit a local Vermont Department of Labor Career Resource Center and speak to our staff to learn about our career services and job opportunities in your area", said Annie Noonan, Commissioner of Labor.
State of Vermont Overview
The Vermont seasonally adjusted unemployment rate was unchanged in June to remain at a statewide average of 3.6 percent. The comparable rate for the United States (5.3 percent) decreased two-tenths of a percentage point from the revised May estimate. The seasonally adjusted Vermont data for June show the Vermont civilian labor force increased by 300 from the prior month’s estimate. The number of employed increased by 400 and the number of unemployed decreased by 100. None of the over-the-month changes were statistically significant in the seasonally-adjusted series.
June unemployment rates for Vermont’s 17 labor market areas ranged from 2.9 percent in Burlington-South Burlington and White River Junction to 5.3 percent in Derby (note: local labor market area unemployment rates are not seasonally adjusted). For comparison, the June unadjusted unemployment rate for Vermont was 3.6 percent which reflects an increase of two-tenths of a percentage point from the revised May level and a decrease of five-tenths of a percentage point from a year ago.
Analysis of Job Changes by Industry
Not Seasonally Adjusted
The preliminary ‘not-seasonally-adjusted’ jobs estimates for June show an increase of 2,100 jobs when compared to the revised May numbers. There was an increase of 800 jobs between the preliminary and the revised May estimates due to the inclusion of more data. The monthly increase seen in the June numbers was attributable to seasonal increases related to the leisure and hospitality industry. 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’ June data, Total Private industries have increased by 4,000 jobs (1.6 percent) and Government employment increased by 200 jobs (0.4 percent) in the past year.
Seasonally Adjusted
The seasonally adjusted data for June reports an increase of 1,000 jobs from the revised May data. As with the ‘not-seasonally-adjusted’ data, this over-the-month change is from the revised May numbers which experienced an 800 job increase from the preliminary estimates. The seasonally adjusted over-the-month changes in June were varied at the sectorial level. Those with a notable percent increase include: Total Government (+1,500 jobs or +2.7%), Private Education Services (+600 jobs or +4.4%) and Professional and Business Services (+300 jobs or +1.1%). Industries with a notable percent decrease include: Construction (-500 jobs or -3.3%), Other Services (-200 jobs or -1.9%) and Manufacturing (-400 jobs or -1.3%).
As of January 2015, the Bureau of Labor Statistics (BLS) has implemented changes to the statistical methodology for the Local Area Unemployment Statistics program and regional definitions for all BLS programs. For additional information, please visit: http://www.bls.gov/lau/lauschanges2015.htm
| Unemployment Rates for States Monthly Rankings Seasonally Adjusted June 2015p |
||
|---|---|---|
| Rank | State | Rate |
| 1 | NEBRASKA | 2.6 |
| 2 | NORTH DAKOTA | 3.1 |
| 3 | UTAH | 3.5 |
| 4 | VERMONT | 3.6 |
| 5 | IOWA | 3.7 |
| 6 | NEW HAMPSHIRE | 3.8 |
| 6 | SOUTH DAKOTA | 3.8 |
| 8 | MINNESOTA | 3.9 |
| 8 | MONTANA | 3.9 |
| 10 | HAWAII | 4.0 |
| 10 | IDAHO | 4.0 |
| 12 | WYOMING | 4.1 |
| 13 | TEXAS | 4.2 |
| 14 | COLORADO | 4.4 |
| 15 | KANSAS | 4.5 |
| 15 | OKLAHOMA | 4.5 |
| 17 | MASSACHUSETTS | 4.6 |
| 17 | WISCONSIN | 4.6 |
| 19 | DELAWARE | 4.7 |
| 19 | MAINE | 4.7 |
| 21 | INDIANA | 4.9 |
| 21 | VIRGINIA | 4.9 |
| 23 | KENTUCKY | 5.1 |
| 24 | MARYLAND | 5.2 |
| 24 | OHIO | 5.2 |
| 26 | WASHINGTON | 5.3 |
| 27 | PENNSYLVANIA | 5.4 |
| 28 | FLORIDA | 5.5 |
| 28 | MICHIGAN | 5.5 |
| 28 | NEW YORK | 5.5 |
| 28 | OREGON | 5.5 |
| 32 | ARKANSAS | 5.7 |
| 32 | CONNECTICUT | 5.7 |
| 32 | TENNESSEE | 5.7 |
| 35 | MISSOURI | 5.8 |
| 35 | NORTH CAROLINA | 5.8 |
| 37 | ARIZONA | 5.9 |
| 37 | ILLINOIS | 5.9 |
| 37 | RHODE ISLAND | 5.9 |
| 40 | ALABAMA | 6.1 |
| 40 | GEORGIA | 6.1 |
| 40 | NEW JERSEY | 6.1 |
| 43 | CALIFORNIA | 6.3 |
| 44 | LOUISIANA | 6.4 |
| 44 | NEW MEXICO | 6.4 |
| 46 | MISSISSIPPI | 6.6 |
| 46 | SOUTH CAROLINA | 6.6 |
| 48 | ALASKA | 6.8 |
| 49 | NEVADA | 6.9 |
| 50 | DISTRICT OF COLUMBIA | 7.0 |
| 51 | WEST VIRGINIA | 7.4 |
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.
The Unemployment and Jobs Report for July is scheduled to be released on Friday, August 21, 2015 at 10:00 a.m.