Vermont businesses report jobs created in July; Seasonally-adjusted unemployment rate increases
Fri Aug 17 2012
The Vermont Department of Labor announced today that on a seasonally adjusted basis, the state economy added 2,500 more jobs in the month of July. The seasonally-adjusted statewide unemployment rate for July 2012 increased by three-tenths of a percent from the prior month, to 5.0%, placing Vermont as the 5th lowest unemployment rate in the nation. The national unemployment rate increased by one-tenth of one percent to 8.3 percent over the same time period. The rise in Vermont’s unemployment rate was consistent with the regional trend as other northeastern states also saw increases to their unemployment rates.
“While the survey of Vermont households reported some economic weakness, we were still encouraged by Vermont businesses reporting increases in the employment numbers. The strength and diversity of the state’s economy is highlighted in the July employment numbers, where construction, financial activities and leisure and hospitality all posted notable over-the-month job growth. These industries hire for a wide range of skills which we believe are available within our Vermont workforce, which should be encouraging to job seekers. VDOL is continuing our outreach to Vermont employers to inventory and post all available job openings, and we continue to support individual and employer-based training programs which continue to prepare Vermont workers for current and future skill demands. The Department can provide the most comprehensive approach to connecting Vermont employers with qualified job seekers. Our local career resource offices are located in 12 regions of the state to serve Vermonters”, said Labor Commissioner Annie Noonan.
State of Vermont Overview
The Vermont seasonally adjusted unemployment rate increased by three-tenths of a percent to 5.0 percent in July. The comparable rate for the United States increased one-tenth of a percent to 8.3 percent. The seasonally adjusted Vermont data for July show the Vermont total labor force declined by 1,000 from the June estimates. Total employment decreased by 2,100 while total unemployment increased by 1,100; both of these over the month changes were statistically significant.
July unemployment rates for Vermont’s 17 labor market areas ranged from 3.5 percent in Hartford to 6.9 percent in Newport (note: local labor market area unemployment rates are not seasonally adjusted). For comparison, the July unadjusted unemployment rate for Vermont was 5.3 percent which reflects an increase of two-tenths of a percent from the June level and a decline of one-tenth of a percent from a year ago.
Analysis of Job Changes by Industry
The preliminary ‘not-seasonally-adjusted’ jobs estimates for July show a decrease of 5,100 jobs when compared to the revised June numbers. This reported over-the-month change does not include the 450 job increase between the preliminary and the revised June estimates due to the inclusion of more data. The broader economic trends can be detected by focusing on the changes between July 2012 and July 2011. As detailed in the preliminary ‘not seasonally adjusted’ July data, Total Private Industries have increased by 2.2 percent (5,550 jobs) and Government has increased by 1.3 percent (550 jobs) within the last year.
The seasonally adjusted data for July reports an increase of 2,500 jobs from the revised June data. As with the ‘not-seasonally-adjusted’ data, this over-the-month change is from the revised June numbers which experienced an upward revision from the preliminary estimates by 600 jobs. A review of the seasonally adjusted over-the-month changes in July reflects employment increases across ownership types; Private Industries and Total Government both reported increases (1,800 and 700 jobs, respectively). In percentage terms, Leisure & Hospitality (1,000 jobs or 3.0 percent), Financial Activities (300 jobs or 2.5 percent) and Construction (300 jobs or 2.2 percent) reported notable increases from the prior month.
For details, please contact Mathew Barewicz, Labor Market Information Chief at the Vermont Department of Labor at 802-828-4153 or Mathew.Barewicz@state.vt.us
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Vermont Labor Force Statistics (Seasonally Adjusted) |
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Changes From |
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2012 |
June 2012 |
July 2011 |
June 2012 |
July 2011 |
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Total Labor Force |
357,000 |
358,000 |
357,700 |
-1,000 |
-700 |
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Employment |
339,100 |
341,200 |
337,600 |
-2,100 |
1,500 |
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Unemployment |
18,000 |
16,900 |
20,200 |
1,100 |
-2,200 |
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Rate (%) |
5.0 |
4.7 |
5.6 |
0.3 |
-0.6 |
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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. |
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Vermont Seasonally Adjusted Nonfarm Employment in Thousands |
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BY NAICS |
Prelim. |
Revised |
Revised |
Change From: |
% Change From: |
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Jul-12 |
Jun-12 |
Jul-11 |
Jun-12 |
Jul-11 |
Jun-12 |
Jul-11 |
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Total - Nonfarm |
305.3 |
302.8 |
299.3 |
2.5 |
6.0 |
0.8 |
2.0 |
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Private Industries |
252.2 |
250.4 |
246.7 |
1.8 |
5.5 |
0.7 |
2.2 |
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Construction |
13.8 |
13.5 |
13.6 |
0.3 |
0.2 |
2.2 |
1.5 |
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Manufacturing |
31.3 |
31.2 |
31.5 |
0.1 |
-0.2 |
0.3 |
-0.6 |
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Durable Goods |
22.1 |
22.0 |
22.3 |
0.1 |
-0.2 |
0.5 |
-0.9 |
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Non-Durable Goods |
9.2 |
9.2 |
9.2 |
0.0 |
0.0 |
0.0 |
0.0 |
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Trade, Transportation & Utilities |
56.8 |
57.0 |
56.4 |
-0.2 |
0.4 |
-0.4 |
0.7 |
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Wholesale Trade |
9.7 |
9.6 |
9.7 |
0.1 |
0.0 |
1.0 |
0.0 |
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Retail Trade |
38.7 |
39.1 |
37.8 |
-0.4 |
0.9 |
-1.0 |
2.4 |
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Trans., Warehousing & Utilities |
8.4 |
8.3 |
8.9 |
0.1 |
-0.5 |
1.2 |
-5.6 |
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Financial Activities |
12.1 |
11.8 |
12.2 |
0.3 |
-0.1 |
2.5 |
-0.8 |
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Finance & Insurance |
9.1 |
8.9 |
9.2 |
0.2 |
-0.1 |
2.2 |
-1.1 |
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Real Estate, Rental & Leasing |
3.0 |
2.9 |
3.0 |
0.1 |
0.0 |
3.4 |
0.0 |
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Professional & Business Services |
26.9 |
27.1 |
24.8 |
-0.2 |
2.1 |
-0.7 |
8.5 |
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Professional., Scientific & Technical |
15.0 |
15.0 |
13.6 |
0.0 |
1.4 |
0.0 |
10.3 |
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Administrative Support & Waste |
10.3 |
10.4 |
9.8 |
-0.1 |
0.5 |
-1.0 |
5.1 |
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Education & Health Services |
61.7 |
61.4 |
60.1 |
0.3 |
1.6 |
0.5 |
2.7 |
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Private Ed. Services |
13.3 |
13.1 |
13.0 |
0.2 |
0.3 |
1.5 |
2.3 |
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Health Care & Social Assistance |
48.4 |
48.3 |
47.1 |
0.1 |
1.3 |
0.2 |
2.8 |
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Leisure & Hospitality |
33.9 |
32.9 |
32.6 |
1.0 |
1.3 |
3.0 |
4.0 |
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Arts, Entertainment & Recreation |
3.7 |
3.7 |
3.9 |
0.0 |
-0.2 |
0.0 |
-5.1 |
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Accommodation & Food Services |
30.2 |
29.2 |
28.7 |
1.0 |
1.5 |
3.4 |
5.2 |
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Other Services |
10.0 |
9.8 |
9.7 |
0.2 |
0.3 |
2.0 |
3.1 |
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Total Government |
53.1 |
52.4 |
52.6 |
0.7 |
0.5 |
1.3 |
1.0 |
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State Government |
17.6 |
17.6 |
17.2 |
0.0 |
0.4 |
0.0 |
2.3 |
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Local Government |
28.7 |
28.9 |
28.5 |
-0.2 |
0.2 |
-0.7 |
0.7 |
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Burlington-S. Burlington MSA |
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Total - Nonfarm |
115.2 |
115.7 |
113.3 |
-0.5 |
1.9 |
-0.4 |
1.7 |
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Notes: Statewide Total Nonfarm is a summed total. Finance & Insurance and Real Estate, Rental & Leasing have been added as a seasonally adjusted series in 2012. |
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Mining & Logging and Information are not published seasonally adjusted because the seasonal component, which is small relative to the trend-cycle and irregular components, cannot be separated with sufficient precision. |
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Program Update: Starting with the March 2011 numbers, the Current Employment Statistics (CES) estimates transitioned from the VT Department of Labor to the U.S. Bureau of Labor Statistics (BLS). The BLS implemented several methodological changes to standardize the estimation approach across states. While these changes will reduce the potential for statistical bias in state and metropolitan area estimates, they may increase the month to month variability of the estimates. More information is available on the BLS website at http://www.bls.gov/sae/cesprocs.htm.
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Current Employment Statistics Program (CES). Produced by the Vermont Department of Labor in cooperation with the U.S Bureau of Labor Statistics. |
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ESTIMATED NONFARM EMPLOYMENT IN VERMONT (Not Seasonally Adjusted) |
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Prelim |
Revised |
Revised |
Changes From: |
% Changes From: |
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INDUSTRY BY NAICS |
Jul-12 |
Jun-12 |
Jul-11 |
Jun-12 |
Jul-11 |
Jun-12 |
Jul-11 |
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TOTAL NONFARM |
299,050 |
304,150 |
292,950 |
-5,100 |
6,100 |
-1.7% |
2.1% |
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TOTAL PRIVATE |
255,800 |
252,500 |
250,250 |
3,300 |
5,550 |
1.3% |
2.2% |
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GOODS PRODUCING |
48,150 |
47,300 |
48,000 |
850 |
150 |
1.8% |
0.3% |
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MANUFACTURING |
31,450 |
31,500 |
31,550 |
-50 |
-100 |
-0.2% |
-0.3% |
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Durable Goods |
22,150 |
22,200 |
22,250 |
-50 |
-100 |
-0.2% |
-0.4% |
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Computer & Electrical Equipment Mfg. |
8,250 |
8,250 |
8,400 |
0 |
-150 |
0.0% |
-1.8% |
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Fabricated Metal Products Mfg. |
2,450 |
2,500 |
2,300 |
-50 |
150 |
-2.0% |
6.5% |
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Non-Durable Goods |
9,300 |
9,300 |
9,300 |
0 |
0 |
0.0% |
0.0% |
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Food Mfg. |
4,450 |
4,450 |
4,400 |
0 |
50 |
0.0% |
1.1% |
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CONSTRUCTION |
15,850 |
14,950 |
15,650 |
900 |
200 |
6.0% |
1.3% |
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MINING & LOGGING |
850 |
850 |
800 |
0 |
50 |
0.0% |
6.3% |
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SERVICE-PROVIDING |
250,900 |
256,850 |
244,950 |
-5,950 |
5,950 |
-2.3% |
2.4% |
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TRADE, TRANSPORTATION AND UTILITIES |
56,900 |
57,650 |
56,600 |
-750 |
300 |
-1.3% |
0.5% |
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Wholesale Trade |
9,700 |
9,650 |
9,700 |
50 |
0 |
0.5% |
0.0% |
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Retail Trade |
38,950 |
39,500 |
38,100 |
-550 |
850 |
-1.4% |
2.2% |
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Food & Beverage Stores |
10,200 |
10,150 |
10,150 |
50 |
50 |
0.5% |
0.5% |
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General Merchandise Store |
3,000 |
3,050 |
3,100 |
-50 |
-100 |
-1.6% |
-3.2% |
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Transportation, Warehousing and Utilities |
8,250 |
8,500 |
8,800 |
-250 |
-550 |
-2.9% |
-6.3% |
|
Utilities |
1,750 |
1,750 |
1,850 |
0 |
-100 |
0.0% |
-5.4% |
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Transportation & Warehousing |
6,500 |
6,750 |
6,950 |
-250 |
-450 |
-3.7% |
-6.5% |
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INFORMATION |
4,900 |
4,950 |
5,000 |
-50 |
-100 |
-1.0% |
-2.0% |
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FINANCIAL ACTIVITIES |
12,200 |
12,050 |
12,350 |
150 |
-150 |
1.2% |
-1.2% |
|
Finance & Insurance |
9,150 |
9,050 |
9,250 |
100 |
-100 |
1.1% |
-1.1% |
|
Real Estate, Rental & Leasing |
3,050 |
3,000 |
3,100 |
50 |
-50 |
1.7% |
-1.6% |
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PROFESSIONAL AND BUSINESS SERVICES |
27,400 |
27,650 |
25,300 |
-250 |
2,100 |
-0.9% |
8.3% |
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Professional, Scientific and Technical |
15,100 |
15,250 |
13,700 |
-150 |
1,400 |
-1.0% |
10.2% |
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Administrative, Support and Waste |
10,700 |
10,800 |
10,150 |
-100 |
550 |
-0.9% |
5.4% |
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EDUCATIONAL AND HEALTH SERVICES |
61,200 |
60,500 |
59,600 |
700 |
1,600 |
1.2% |
2.7% |
|
Educational Services |
12,350 |
12,150 |
12,100 |
200 |
250 |
1.6% |
2.1% |
|
College, Universities and Professional |
6,650 |
6,500 |
6,600 |
150 |
50 |
2.3% |
0.8% |
|
Health Care and Social Assistance |
48,850 |
48,350 |
47,500 |
500 |
1,350 |
1.0% |
2.8% |
|
Ambulatory Health Care Services |
15,750 |
15,500 |
15,500 |
250 |
250 |
1.6% |
1.6% |
|
Hospitals |
12,800 |
12,850 |
12,700 |
-50 |
100 |
-0.4% |
0.8% |
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Nursing and Residential Care Facilities |
7,150 |
7,100 |
7,050 |
50 |
100 |
0.7% |
1.4% |
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LEISURE AND HOSPITALITY |
34,850 |
32,450 |
33,550 |
2,400 |
1,300 |
7.4% |
3.9% |
|
Arts, Entertainment and Recreation |
4,550 |
4,150 |
4,700 |
400 |
-150 |
9.6% |
-3.2% |
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Accommodation and Food Services |
30,300 |
28,300 |
28,850 |
2,000 |
1,450 |
7.1% |
5.0% |
|
Accommodations |
12,450 |
10,950 |
10,050 |
1,500 |
2,400 |
13.7% |
23.9% |
|
Hotels & Motels |
10,200 |
9,300 |
8,950 |
900 |
1,250 |
9.7% |
14.0% |
|
Food Services and Drinking Places |
17,850 |
17,350 |
18,800 |
500 |
-950 |
2.9% |
-5.1% |
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OTHER SERVICES |
10,200 |
9,950 |
9,850 |
250 |
350 |
2.5% |
3.6% |
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GOVERNMENT |
43,250 |
51,650 |
42,700 |
-8,400 |
550 |
-16.3% |
1.3% |
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Federal Government |
6,450 |
6,400 |
6,500 |
50 |
-50 |
0.8% |
-0.8% |
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State Government Education |
7,000 |
6,950 |
6,550 |
50 |
450 |
0.7% |
6.9% |
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Local Government Education |
12,600 |
21,350 |
12,600 |
-8,750 |
0 |
-41.0% |
0.0% |
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Other State Government |
9,000 |
9,000 |
9,050 |
0 |
-50 |
0.0% |
-0.6% |
|
Other Local Government |
8,200 |
7,950 |
8,000 |
250 |
200 |
3.1% |
2.5% |
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Note: CES PROGRAM DATA ARE PRDUCED IN COOPERATION WITH THE U.S. BUREAU OF LABOR STATISTICS |
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ESTIMATES ARE PRELIMINARY AND SUBJECT TO REVISION. SEE ANNUAL SUMMARY FOR DETAILS |
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VERMONT LABOR FORCE AND UNEMPLOYMENT |
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LABOR MARKET AREAS BY RESIDENCE (Not Seasonally Adjusted) |
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July 2012 Estimates |
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Total |
Number |
Number |
Jul-12 |
Jun-12 |
Jul-11 |
|
Area |
Labor Force |
Employed |
Unemployed |
Rate (%) |
Rate (%) |
Rate (%) |
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|
|
|
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Barre-Montpelier |
29,100 |
27,550 |
1,550 |
5.4 |
4.9 |
5.6 |
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Bennington |
12,700 |
11,900 |
800 |
6.4 |
6.0 |
6.9 |
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Bradford |
4,850 |
4,550 |
300 |
5.9 |
5.9 |
6.5 |
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Brattleboro |
24,950 |
23,650 |
1,300 |
5.2 |
5.1 |
5.4 |
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Burlington-South Burlington |
118,000 |
112,600 |
5,400 |
4.6 |
4.4 |
4.7 |
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Hartford |
19,550 |
18,850 |
700 |
3.5 |
3.4 |
3.5 |
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Manchester |
12,150 |
11,450 |
700 |
5.8 |
5.8 |
6.1 |
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Middlebury |
18,800 |
17,850 |
1,000 |
5.2 |
5.0 |
5.1 |
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Morristown-Stowe |
20,900 |
19,750 |
1,100 |
5.3 |
5.3 |
5.4 |
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Newport |
14,450 |
13,450 |
1,000 |
6.9 |
7.0 |
7.4 |
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Randolph |
8,750 |
8,300 |
500 |
5.5 |
5.1 |
6.5 |
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Rutland |
26,500 |
24,750 |
1,750 |
6.7 |
6.5 |
6.4 |
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Springfield |
11,650 |
10,950 |
750 |
6.3 |
6.2 |
6.8 |
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St. Johnsbury |
14,850 |
13,950 |
900 |
6.1 |
6.0 |
6.1 |
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Swanton-Enosburg |
14,400 |
13,550 |
800 |
5.6 |
5.1 |
6.0 |
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Warren-Waitsfield |
4,100 |
3,900 |
200 |
4.3 |
4.1 |
4.0 |
|
Woodstock |
3,700 |
3,550 |
150 |
4.1 |
4.3 |
4.4 |
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Vermont Total |
361,700 |
342,700 |
19,000 |
5.3 |
5.1 |
5.4 |
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Note: Unemployment rate is calculated as the number of unemployed divided by total labor force and expressed as a percent. The unemployment rates displayed here may not match calculated estimates due to rounding. |
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Source: Vermont Department of Labor LAUS program in cooperation with the U.S. Bureau of Labor Statistics |
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