The Vermont Department of Labor announced today that the seasonally adjusted unemployment rate for May 2010 was 6.2 percent, down two tenths from the revised April rate and down 1.1 percent from a year ago. Vermont's unemployment rate is fourth lowest in the nation; New Hampshire's (6.4 percent) is fifth lowest. See full US table below.
The unemployment rate continued its gradual decline from the recessionary peak of one year ago said Valerie Rickert, Deputy Commissioner of the Vermont Department of Labor. The trend of the number of people participating in the labor market compared to the number of Vermonters working remains positive over the last several months in spite of the estimated small declines this past month. The numbers continue to point to improvement in the labor market.
Seasonal Job Growth
The total job gain in May was typical for the period. The one exception to the over the month change was the increase in Federal employment due primarily to the spike in intermittent Census workers. As expected, Construction added the most jobs in May, up 1,550. Wholesale Trade and Transportation & Warehousing added more than had been typical in recent years, but Retail Trade added fewer jobs than normal. Administrative Support & Waste grew by 550 jobs, which reflects the usual pattern for May. The growth in Arts, Entertainment & Recreation should be considered seasonal, as warmer weather allowed many businesses to expand services and increase payrolls. Local Government Education rounds out the sectors that have added jobs in May, up 550. Durable Goods Manufacturing shed 350 jobs, 200 of which were concentrated in Computer & Electrical Equipment Manufacturing. Health Care & Social Assistance fell by 550 jobs, with Ambulatory Health Care Services and Hospitals accounting for about half of the loss. The largest loss was in Accommodations, down 1,450 jobs, which compared to the same period over several years, was slightly larger than usual.
The annual rate of unadjusted job growth was -1.4 percent, which was up one-tenth from the revised April estimate.
When seasonally adjusted, May payroll jobs were flat over April and down 4,300 (-1.4 percent) from a year ago. Manufacturing lost 400 jobs over the month and was down 700 from May of 2009. Trade, Transportation & Utilities dropped 200 jobs, but was off-set by the gain (+300) in the Transportation, Warehousing & Utilities sector. Health Care & Social Assistance was solely responsible for the loss in Education & Health Services, down 700 since April. Total Government added 1,200 jobs, due in large part to the spike in intermittent Census workers.
Employment Growth
Vermont s May seasonally adjusted unemployment rate fell by two tenths of a point to 6.2 percent as a result of declines in both employment and unemployment. However, the drop in unemployment had a larger influence. For comparison purposes, the US seasonally adjusted unemployment rate for May was 9.7 percent, down of two tenths from April.
The May unemployment rates for Vermont s 17 labor market areas ranged from 3.9 percent in Hartford to 8.0 percent in Newport. Local labor market area unemployment rates are not seasonally adjusted. For comparison, the May unadjusted unemployment rate for Vermont was 5.9 percent, down eight tenths of a point from April and down 1.2 percent from a year ago. The level of unadjusted unemployment was statistically significant from the April value.
Unemployment Rates for States
Monthly Rankings
Seasonally Adjusted
May 2010p
Rank
State
Rate
1
NORTH DAKOTA
3.6
2
SOUTH DAKOTA
4.6
3
NEBRASKA
4.9
4
VERMONT
6.2
5
NEW HAMPSHIRE
6.4
6
KANSAS
6.5
7
HAWAII
6.6
8
OKLAHOMA
6.7
9
IOWA
6.8
10
LOUISIANA
6.9
11
MINNESOTA
7.0
11
WYOMING
7.0
13
VIRGINIA
7.1
14
MARYLAND
7.2
14
MONTANA
7.2
16
UTAH
7.3
17
ARKANSAS
7.7
18
COLORADO
8.0
18
MAINE
8.0
20
WISCONSIN
8.2
21
ALASKA
8.3
21
NEW YORK
8.3
21
TEXAS
8.3
24
NEW MEXICO
8.4
25
DELAWARE
8.8
26
CONNECTICUT
8.9
26
WEST VIRGINIA
8.9
28
IDAHO
9.0
29
PENNSYLVANIA
9.1
29
WASHINGTON
9.1
31
MASSACHUSETTS
9.2
32
MISSOURI
9.3
33
ARIZONA
9.6
34
NEW JERSEY
9.7
35
INDIANA
10.0
36
GEORGIA
10.2
37
NORTH CAROLINA
10.3
38
DISTRICT OF COLUMBIA
10.4
38
KENTUCKY
10.4
38
TENNESSEE
10.4
41
OREGON
10.6
42
OHIO
10.7
43
ALABAMA
10.8
43
ILLINOIS
10.8
45
SOUTH CAROLINA
11.0
46
MISSISSIPPI
11.4
47
FLORIDA
11.7
48
RHODE ISLAND
12.3
49
CALIFORNIA
12.4
50
MICHIGAN
13.6
51
NEVADA
14.0
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.
Last Modified Date: June 18, 2010
Source: Vermont Department of Labor 6.18.2010. US Department of Labor. 6.18.2010