The Vermont Department of Labor announced today that the seasonally-adjusted statewide unemployment rate for December 2013 was 4.2 percent. This represents a decrease of two-tenths of a percent from the November rate of 4.4 percent. The comparative national average was 6.7 percent, which was down three-tenths of a percent from November. December 2013 data represents the third consecutive reported monthly decrease to the statewide unemployment rate in Vermont. As of the prior month’s initial data, Vermont’s unemployment rate was tied for the fifth lowest in the country.
‘We are pleased to see the unemployment rate decline again this month, but there are still many Vermonters who need a job, or a better job, so that they can participate in the gains of an improving economy. The Vermont Department of Labor’s services are open for all Vermonters, with particular focus on job placement assistance. Our staff in the regional Career Resource Centers can help connect the job-seeker with Vermont employers who are recruiting for their vacancies. Depending upon a person’s eligibility, we can provide funding for training. We also have specific funding for workers who are laid off or who lost their job as a result of adverse foreign trade impacts. We have funding to work with ‘at risk’ youth, Vermont Veterans, low-income Vermonters and Reach Up participants. We have hiring incentives for employers including OJT and WOTC funding. We regularly sponsor job fairs for employers. If you are looking for work, or hope to transition to a new job or career, visit a local VDOL Career Resource Office’, said Labor Commissioner Annie Noonan. State of Vermont Overview Analysis of Job Changes by Industry
The seasonally adjusted Vermont data for December show the Vermont civilian labor force decreased by 950 from the prior month estimates. The number of employed decreased by 200 and the number of unemployed decreased by 750. The over-the-month changes to the number of unemployed and the unemployment rate were statistically significant in the seasonally-adjusted series.
December unemployment rates for Vermont’s 17 labor market areas ranged from 2.4 percent in Warren-Waitsfield to 5.8 percent in Newport (note: local labor market area unemployment rates are not seasonally adjusted). For comparison, the December unadjusted unemployment rate for Vermont was 3.8 percent which reflects a decrease of two-tenths of a percent from the November level and a decline of nine-tenths of a percent from a year ago.
Not Seasonally Adjusted
The preliminary ‘not-seasonally-adjusted’ jobs estimates for December show an increase of 3,900 jobs when compared to the revised November numbers. This reported over-the-month change does not include the 350 job decrease between the preliminary and the revised November estimates due to the inclusion of more data. The monthly increase seen in the December numbers was predominately attributable to seasonal increases in Accommodations. 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’ December data, Total Private industries have increased by 1.3 percent (3,400 jobs) and Government has decreased by 0.3 percent (200 jobs) within the last year.
Seasonally Adjusted
The seasonally adjusted data for December reports no change from the revised November data. As with the ‘not-seasonally-adjusted’ data, the revised November numbers experienced a decrease (100 jobs) from the preliminary estimates. The seasonally adjusted over-the-month changes in December were varied at the sectorial level. Those with a notable percent increase include: Trade, Transportation & Utilities (700 jobs or 1.3 percent), Financial Activities (100 jobs or 0.8 percent) and Construction (100 jobs or 0.7 percent). Sectors with notable percent declines include: Other Services (-200 jobs or -2.0 percent) and Manufacturing (-400 jobs or -1.2 percent).
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