by Timothy McQuiston Vermont Business Magazine Following the August report that showed weakness but no change in the unemployment rate, the September Vermont jobless rate increased one-tenth as all three broad measures were negative: the Labor Force declined; employment was down, and unemployment was up. The Vermont Department of Labor announced today that the seasonally adjusted statewide unemployment rate for September was 3.7 percent. This represents a one-tenth of a percentage point increase from the revised August rate (3.6 percent).
The national average in September was 5.1 percent. Vermont’s unemployment rate is eighth lowest in the country, after being 4th lowest in August. New Hampshire's unemployment rate dropped two-tenths and is now tied for third lowest. September represents the first over-the-month increase in the unemployment rate in the past 12 months. SEE TABLES BELOW.
p = preliminary. |
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"It has been a very positive 12-month period, during which time Vermont's unemployment rate has only increased once. Vermont's current rate of 3.7 percent is still one of the very lowest unemployment rates in the country, and many Vermont employers are continuing to recruit and hire new employees. Vermont has been very fortunate to continue to receive state and federal funding support to offer job and skills training to Vermonters. In addition to our regular funding, recent supplemental awards include three (3) USDOL grants: "Job Driven", "Sector Training" and "Apprenticeship" grants that help Vermonters enter into training opportunities for guaranteed jobs with Vermont employers in the health care, advanced manufacturing, computer and professional services fields. These grants will significantly increase our ability to place Vermonters into On-the- Job Training (OJT), increase our current cohort of nearly 1,000 Registered Apprenticeship opportunities, and in some cases, earn the student college credits too. The Vermont Department of Labor has twelve (12) regional offices that serve all Vermont job-seekers and Vermont businesses with a myriad of services. We do a great job of helping employers with recruitment, screening and hiring, and with matching job seekers to training and jobs. Visit or call a regional office if you need assistance", said Labor Commissioner Annie Noonan.
The seasonally adjusted Vermont data for September show the Vermont civilian labor force decreased by 1,500 from the prior month estimate. The number of employed decreased by 1,700 and the number of unemployed increased by 200. The over-the-month change to the number of employed was statistically significant in the seasonally-adjusted series.
September unemployment rates for Vermont’s 17 labor market areas ranged from 3.2 percent in Burlington-South Burlington to 5.5 percent in Derby (note: local labor market area unemployment rates are not seasonally adjusted). For comparison, the September unadjusted unemployment rate for Vermont was 3.8 percent which reflects an increase of three-tenths of a percentage point from the revised August level and a decrease of three-tenths of a percentage point from a year ago.
Not Seasonally Adjusted
The preliminary ‘not-seasonally-adjusted’ jobs estimates for September show an increase of 2,500 jobs when compared to the revised August numbers. There was a decrease of 400 jobs between the preliminary and the revised August estimates due to the inclusion of more data. The monthly increase seen in the September numbers was attributable to seasonal increases 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’ September data, Total Private industries have increased by 2,100 jobs (0.8 percent) and Government employment has not changed in the past year.
Seasonally Adjusted
The seasonally adjusted data for September reports a decrease of 2,100 jobs from the revised August data. As with the ‘not-seasonally-adjusted’ data, this over-the-month change is from the revised August numbers which experienced a 400 job decrease from the preliminary estimates. The seasonally adjusted over-the-month changes in September were varied at the sectorial level. Those with a notable percent increase include: Professional and Technical Services (+200 jobs or +1.4%), Retail Trade (+300 jobs or +0.8%), and Leisure and Hospitality (+200 jobs or +0.5%). Industries with a notable percent decrease include: Private Education Services (-800 jobs or -5.7%), Other Services (-400 jobs or -3.6%) and Financial Activities (-300 jobs or -2.5%).
