The Vermont Department of Labor announced today that the seasonally adjusted unemployment rate for May 2009 was 7.3 percent, unchanged from the revised April rate and up 2.8 points from a year ago. While the job market remained stable and the unemployment rate was unchanged, monthly job growth remained sluggish. Unemployment rates for Vermont s 17 labor market areas ranged from 4.0 percent in Hartford to 10.4 percent in Rutland. Local labor market area unemployment rates are not seasonally adjusted. For comparison, the May unadjusted unemployment rate for Vermont was 7.1 percent, down eight-tenths of a point from April 2009 and up 2.8 points from a year ago. The May unadjusted unemployment rate for Vermont was statistically different form the April rate.
Job and employment levels remained stable in May, said Patricia Moulton Powden, Commissioner of the Vermont Department of Labor. This is the second month in a row where job and employment losses have plateaued from the steep declines of 4th Quarter 2008 and early 2009. While we do not see any significant signs of job growth yet, the Vermont labor market is doing better than the US as a whole.
Job Growth
In May, we typically see seasonal job counts begin to rise after their 1st Quarter lows. Before seasonal adjustment, Total Non-Farm (TNF) jobs grew by 3,700 over the month, but remain down by 12,800 or -4.1% on an annual basis. This rate of annual loss is slower than what we saw in the revised April numbers (-5.3%). Construction, (+1,700 jobs or +13.8%) led the over the month growth. Retail Trade (+750 or +2.0%), Administrative Support & Waste, (+800 or 10.7%) also grew unadjusted jobs over the month. However, only Healthcare (+900 or 2.0%), Government, (+150 or +0.3%) and Education, (+150 or 1.1%) showed any annual improvement.
When seasonally adjusted, May job levels were essentially flat, (+100 jobs) from April, but still remain down by 13,300 or -4.3% from May of 2008. The Construction sector grew by 300 seasonally adjusted jobs or 2.3% over the month. Administrative Support and Waste grew by 400 jobs or 5.2% driven by landscaping and temporary services. The Retail Trade sector grew by 200 seasonally adjusted jobs or 0.5% over April. Leisure and Hospitality and Manufacturing were the largest job losers, shedding 400 and 300 jobs respectively.
Employment Growth
Vermont s seasonally adjusted unemployment rate was unchanged in May at 7.3 percent as a result of almost no change in either the number of employed, (334,500) or unemployed, (26,500) Vermonters. Vermont s observed May seasonally adjusted employment, unemployment levels and unemployment rate were not statistically significant from April. For comparison purposes, the US seasonally adjusted unemployment rate for May was 9.4 percent, up five-tenths of a point from the revised April rate of 8.9 percent.
The preliminary estimates of nonfarm jobs for May, and the revisions to the estimates for November 2008 through April 2009, incorporate substantive changes made in the Current Employment Survey estimation procedures. These new procedures are designed to bring the aggregate monthly change in jobs for individual states into closer alignment with the change in national job counts reflected in the estimates produced and published by the Bureau of Labor Statistics. As a result of these changes, the November 2008 and forward estimates may not be totally comparable to previous months' data. The impact of these changes in methodology will be better understood when we are able to make comparisons to Quarterly Census of Employment and Wages. We expect to make these comparisons beginning in May of 2009. For details of these changes, please contact Andy Condon at the Vermont Department of Labor at 802-828-4153 or [email protected].
Vermont Labor Force Statistics (Seasonally Adjusted)
Changes From
May 2009
April
2009
May 2008
April 2009
May
2008
Total Labor Force
361,000
361,000
355,000
0
6,000
Employment
334,500
334,700
339,000
-200
-4,500
Unemployment
26,500
26,300
16,000
200
10,500
Rate (%)
7.3
7.3
4.5
0.0
2.8
Vermont s labor force, employment and unemployment statistics are produced from a combination of a Statewide survey of households and statistical modeling. The data are produced by the Local Area Unemployment Statistics Program (LAUS) a cooperative program with the US Department of Labor, Bureau of Labor Statistics and the Vermont Department of Labor.
Vermont Seasonally Adjusted Nonfarm Employment in Thousands
BY NAICS
Prelim.
Revised
Revised
Change From:
% Change From:
May -09
Apr-09
May-08
Apr-09
May-08
Apr-09
May-08
Total - All Industries
295.5
295.4
308.8
0.1
-13.3
0.0
-4.3
Private Industries
241.3
241.5
254.8
-0.2
-13.5
-0.1
-5.3
Construction
13.5
13.2
15.7
0.3
-2.2
2.3
-14.0
Manufacturing
30.9
31.1
35.1
-0.2
-4.2
-0.6
-12.0
Durable Goods
21.7
21.8
25.5
-0.1
-3.8
-0.5
-14.9
Non-Durable Goods
9.2
9.3
9.6
-0.1
-0.4
-1.1
-4.2
Trade, Transportation & Utilities
56.9
56.5
59.4
0.4
-2.5
0.7
-4.2
Retail Trade
38.2
38.0
40.3
0.2
-2.1
0.5
-5.2
Trans., Warehousing & Utilities
8.6
8.5
8.8
0.1
-0.2
1.2
-2.3
Financial Activities
12.6
12.6
12.9
0.0
-0.3
0.0
-2.3
Professional & Business Services
21.1
20.8
23.2
0.3
-2.1
1.4
-9.1
Professional., Scientific & Technical
12.8
12.7
13.6
0.1
-0.8
0.8
-5.9
Administrative Support & Waste
8.1
7.7
9.3
0.4
-1.2
5.2
-12.9
Education & Health Services
60.1
60.2
58.8
-0.1
1.3
-0.2
2.2
Private Ed. Services
13.5
13.6
13.2
-0.1
0.3
-0.7
2.3
Health Care & Social Assistance
46.6
46.6
45.6
0.0
1.0
0.0
2.2
Leisure & Hospitality
30.8
31.2
32.9
-0.4
-2.1
-1.3
-6.4
Arts, Entertainment & Recreation
3.7
3.9
3.8
-0.2
-0.1
-5.1
-2.6
Accommodation & Food Services
27.1
27.3
29.1
-0.2
-2.0
-0.7
-6.9
Other Services
9.5
9.5
9.9
0.0
-0.4
0.0
-4.0
Total Government
54.2
53.9
54.0
0.3
0.2
0.6
0.4
State Government
17.5
17.6
18.2
-0.1
-0.7
-0.6
-3.8
Local Government
30.0
30.0
29.6
0.0
0.4
0.0
1.4
Burlington-S. Burlington MSA
Total - All Industries
109.4
109.2
114.4
0.2
-5.0
0.2
-4.4
Statewide Total - All Industries estimate is seasonally adjusted independently.
Note: Beginning January 2009 Vermont will publish a seasonally adjusted Total-All Industries estimate for the Burlington - S. Burlington MSA.
Produced by the Vermont Department of Labor in cooperation with the U.S Bureau of Labor Statistics
VERMONT
(not seasonally adjusted)
PRELIM
REVISED
REVISED
CHANGES FROM
% CHANGES FROM
INDUSTRY BY NAICS
May-09
Apr-09
May-08
Apr-09
May-08
Apr-09
MAy-08
TOTAL NONFARM
295,650
291,950
308,450
3,700
-12,800
1.3%
-4.1%
TOTAL PRIVATE
239,250
235,650
252,200
3,600
-12,950
1.5%
-5.1%
GOODS PRODUCING
45,750
43,950
52,200
1,800
-6,450
4.1%
-12.4%
MANUFACTURING
30,850
30,800
35,100
50
-4,250
0.2%
-12.1%
Durable Goods
21,800
21,750
25,650
50
-3,850
0.2%
-15.0%
Computer & Electrical Equipment Mfg.
8,500
8,500
9,250
0
-750
0.0%
-8.1%
Fabricated Metal Products Mfg.
2,500
2,500
2,550
0
-50
0.0%
-2.0%
Non-Durable Goods
9,050
9,050
9,450
0
-400
0.0%
-4.2%
Food Mfg.
3,800
3,750
3,900
50
-100
1.3%
-2.6%
CONSTRUCTION
14,050
12,350
16,200
1,700
-2,150
13.8%
-13.3%
MINING & LOGGING
850
800
900
50
-50
6.3%
-5.6%
SERVICE-PROVIDING
249,900
248,000
256,250
1,900
-6,350
0.8%
-2.5%
TRADE, TRANSPORTATION AND UTILITIES
56,500
55,450
59,050
1,050
-2,550
1.9%
-4.3%
Wholesale Trade
9,950
9,850
10,300
100
-350
1.0%
-3.4%
Retail Trade
37,900
37,150
39,950
750
-2,050
2.0%
-5.1%
Food & Beverage Stores
10,000
9,850
10,100
150
-100
1.5%
-1.0%
General Merchandise Store
2,700
2,700
2,800
0
-100
0.0%
-3.6%
Transportation, Warehousing and Utilities
8,650
8,450
8,800
200
-150
2.4%
-1.7%
Utilities
1,750
1,750
1,750
0
0
0.0%
0.0%
Transportation & Warehousing
6,900
6,700
7,050
200
-150
3.0%
-2.1%
INFORMATION
5,500
5,500
5,750
0
-250
0.0%
-4.3%
FINANCIAL ACTIVITIES
12,650
12,550
12,950
100
-300
0.8%
-2.3%
Finance & Insurance
9,400
9,350
9,650
50
-250
0.5%
-2.6%
Real Estate, Rental & Leasing
3,250
3,200
3,300
50
-50
1.6%
-1.5%
PROFESSIONAL AND BUSINESS SERVICES
21,250
20,450
23,400
800
-2,150
3.9%
-9.2%
Professional, Scientific and Technical
12,700
12,700
13,450
0
-750
0.0%
-5.6%
Administrative, Support and Waste
8,250
7,450
9,600
800
-1,350
10.7%
-14.1%
EDUCATIONAL AND HEALTH SERVICES
60,150
60,200
59,100
-50
1,050
-0.1%
1.8%
Educational Services
13,550
13,850
13,400
-300
150
-2.2%
1.1%
College, Universities and Professional
7,150
7,350
7,150
-200
0
-2.7%
0.0%
Health Care and Social Assistance
46,600
46,350
45,700
250
900
0.5%
2.0%
Ambulatory Health Care Services
16,150
16,200
15,950
-50
200
-0.3%
1.3%
Hospitals
12,700
12,650
12,050
50
650
0.4%
5.4%
Nursing and Residential Care Facilities
6,950
6,950
6,850
0
100
0.0%
1.5%
LEISURE AND HOSPITALITY
28,000
28,150
29,900
-150
-1,900
-0.5%
-6.4%
Arts, Entertainment and Recreation
3,800
3,250
3,900
550
-100
16.9%
-2.6%
Accommodation and Food Services
24,200
24,900
26,000
-700
-1,800
-2.8%
-6.9%
Accommodations
7,750
8,900
8,100
-1,150
-350
-12.9%
-4.3%
Hotels & Motels
6,900
8,200
7,200
-1,300
-300
-15.9%
-4.2%
Food Services and Drinking Places
16,450
16,000
17,900
450
-1,450
2.8%
-8.1%
OTHER SERVICES
9,450
9,400
9,850
50
-400
0.5%
-4.1%
GOVERNMENT
56,400
56,300
56,250
100
150
0.2%
0.3%
Federal Government
6,500
6,250
6,200
250
300
4.0%
4.8%
State Government Education
8,150
8,850
8,350
-700
-200
-7.9%
-2.4%
Local Government Education
25,200
24,850
24,900
350
300
1.4%
1.2%
Other State Government
9,350
9,250
9,750
100
-400
1.1%
-4.1%
Other Local Government
7,200
7,100
7,050
100
150
1.4%
2.1%
NOTE: DATA COMPLIED IN COOPERATION WITH THE U.S. BUREAU OF LABOR STATISTICS ESTIMATES ARE PRELIMINARY AND SUBJECT TO REVISION. SEE ANNUAL SUMMARY FOR DETAILS
Beginning with the January 09 estimates CES has implemented a change to the Super Sector previously titled Natural Resources & Mining to Mining & Logging . It s merely a change of title to better reflect the true makeup of the Super Sector in CES.
VERMONT LABOR FORCE AND UNEMPLOYMENT
LABOR MARKET AREAS BY RESIDENCE (Not Seasonally Adjusted)
May 2009 Estimates
Total
Number
Number
May-09
Apr-09
May-08
Area
Labor Force
Employed
Unemployed
Rate (%)
Rate (%)
Rate (%)
Barre-Montpelier
29,400
27,450
1,950
6.6
7.6
4.3
Bennington
13,550
12,450
1,100
8.2
9.3
3.9
Bradford
5,000
4,650
350
7.2
8.9
4.5
Brattleboro
23,800
22,100
1,700
7.2
7.6
4.8
Burlington-South Burlington
114,300
107,350
6,950
6.1
6.5
3.7
Hartford
20,050
19,250
800
4.0
4.9
2.6
Manchester
12,100
11,050
1,000
8.5
9.6
4.7
Middlebury
18,500
17,250
1,250
6.7
7.8
3.8
Morristown-Stowe
20,650
19,050
1,600
7.7
9.1
4.8
Newport
14,350
13,050
1,300
9.2
11.1
6.1
Randolph
8,850
8,150
750
8.4
9.0
5.5
Rutland
25,800
23,150
2,700
10.4
9.9
6.0
Springfield
12,250
11,250
1,000
8.3
8.9
4.5
St. Johnsbury
15,300
14,150
1,200
7.7
9.8
4.5
Swanton-Enosburg
14,300
13,200
1,100
7.5
9.0
4.5
Warren-Waitsfield
3,750
3,500
250
6.9
6.3
3.2
Woodstock
3,700
3,450
200
5.8
6.5
3.1
Vermont Total
357,950
332,500
25,400
7.1
7.9
4.3
Note: Rate is unemployed divided by total labor force, expressed as a percent.
Source: Vermont Department of Labor in cooperation with the U.S. Bureau of Labor Statistics