Weekly unemployment claims spike after recent fall

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Weekly unemployment claims spike after recent fall

Fri, 04/06/2012 - 9:55am -- tim

Weekly unemployment claims in Vermont increased last week after a steady decrease in March. For the week there were 1,289 new regular benefit claims for Unemployment Insurance in Vermont last week. This is an increase of 415 claims from the week before and is 453 higher than last year's total.
"It is typical in spring to see a temporary rise in initial unemployment claims as ski areas go offline prior to ramping up for summer activities," Economic & Labor Market Information Chief Mathew Barewicz said. "Unfortunately, this was not a typical winter.  This has resulted in several ski areas shutting down winter operations early and many within the same week - instead of staggered over the month of April."
Altogether 9,861 new and continuing claims were filed, an increase of 174 from a week ago and 1,981 fewer than a year ago. The Department also processed 1,507 First Tier claims for benefits under Emergency Unemployment Compensation, 2008 (EUC08), 8 fweer than a week ago. In addition, there were 697 Second Tier claims for benefits processed under the EUC08 program, which is 21 fewer than the week before. The Unemployment Weekly Report can be found at: http://www.vtlmi.info/. Previously released Unemployment Weekly Reports and other UI reports can be found at: http://www.vtlmi.info/lmipub.htm#uc  
Vermont's unemployment rate fell two-tenths to 4.9 percent in February. See story HERE.