Weekly unemployment claims edge up
Weekly unemployment claims increased to over 600, which is still a relatively modest level. For the week there were 620 new, regular benefit claims for Unemployment Insurance in Vermont. This is an increase of 60 claims from the week before and 76 more than last year's total. Before tropical Storm Irene hit last August 28, claims were tracking at a very low level, at around 500 per week. Immediately following the storm, claims soared to 1,200 in the week after and nearly that many in the second week after. And while they have dramatically fallen back since, they have not quite returned to the low, pre-Irene levels consistently.
Altogether 6,208 new and continuing claims were filed, a decrease of 30 from a week ago and 736 fewer than a year ago. The Department also processed 1,349 First Tier claims for benefits under Emergency Unemployment Compensation, 2008 (EUC08), 4 fewer than a week ago. In addition, there were 394 Second Tier claims for benefits processed under the EUC08 program, which is 41 fewer than the week before. The Tier II program of extended benefits is being discontinued in Vermont as the state's unemployment rate has been under the federal threshold for more than three months.
Vermont's unemployment rate increased one-tenth to 4.7 percent in June. This is the lowest rate in New England and fourth lowest in the US. SEE STORY