Vermont unemployment rate holds steady at 3.2 percent in June

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Vermont unemployment rate holds steady at 3.2 percent in June

Fri, 07/21/2017 - 10:23am -- katie

Vermont Business Magazine - The Vermont Department of Labor announced today that the seasonally-adjusted statewide unemployment rate for June was 3.2 percent. This reflects no change from the revised May rate (3.2 percent). The national rate in June was 4.4 percent. As of the prior month’s preliminary data, the Burlington-South Burlington Metropolitan NECTA was tied for the ninth lowest unemployment rate in the country for all metropolitan areas at 2.3 percent (not-seasonally-adjusted). Overall, Vermont’s unemployment rate was tied for the seventh lowest in the country for the same time period.

Commissioner's Message:

“Although Vermont continues to have a near historic low unemployment rate, at 3.2% this equates to nearly 11,000 Vermonters who are currently unemployed. If we combine this pool of unemployed with the number of Vermonters who report wanting work or wanting more hours, it totals over 20,000 Vermonters looking to improve their economic situation. I encourage employers who are looking for workers to contact their local Career Resource Center to help with recruiting and hiring needs. Likewise, individual Vermonters interested in improving their economic situation should contact their local office to learn about available jobs in their area, training opportunities and other employment related services. It is the priority of the Department to serve employers and employees with equal energy and our staff at our Career Resource Centers are equipped and ready to help”, said Labor Commissioner Lindsay Kurrle.

State of Vermont Overview:

The Vermont seasonally-adjusted unemployment rate was unchanged in June remaining at a statewide average of 3.2 percent. The comparable United States rate is 4.4 percent which experienced a one-tenth of one percentage point increase from the revised May estimate. The seasonally-adjusted Vermont data for June show the Vermont civilian labor force decreased by 1,600 from the prior month’s revised estimate. The number of employed decreased by 1,550 and the number of unemployed was unchanged. The change in labor force and the number of employed were statistically significant in the seasonally-adjusted series.

The June unemployment rates for Vermont’s 17 labor market areas ranged from 2.3 percent in White River Junction to 4.7 percent in Derby (note: local labor market area unemployment rates are not seasonally-adjusted). For comparison, the June unadjusted unemployment rate for Vermont was 3.1 percent which reflects an increase of two-tenths of one percentage point from the revised unadjusted May level and a decrease of three-tenth of one percentage point from a year ago.

Analysis of Job Changes by Industry:

Not-Seasonally-Adjusted

The preliminary ‘not-seasonally-adjusted’ jobs estimates for June show an increase of 3,400 jobs when compared to the revised May numbers. There was an increase of 300 jobs between the preliminary and the revised May estimates due to the inclusion of more data. The monthly increase seen in the June numbers was primarily attributable to seasonal movements in Leisure & Hospitality. The broader economic trends can be detected by focusing on the over-the-year changes in this data series. As detailed in the preliminary ‘not-seasonally-adjusted’ June data, Total Private industries have increased by 1,900 jobs (0.7 percent) and Government (including public education) employment has increased by 100 jobs (0.2 percent) in the past year.

Seasonally-Adjusted

The seasonally-adjusted data for June reports an increase of 900 jobs from the revised May data. As with the ‘not-seasonally-adjusted’ data, this over-the-month change is from the revised May numbers which experienced an increase of 200 jobs from the preliminary estimates. The seasonally-adjusted over-the-month changes in June were mostly positive at the sub-sector level. Those with a notable percent increase include: Mining & Logging (+100 jobs or +12.5%), Other Services (+500 jobs or +4.7%), and Administrative & Waste Services (+500 jobs or +4.4%). Sectors with a notable percent decrease include: Durable Goods Manufacturing (-500 jobs or -2.8%), Private Educational Services (-300 jobs or -2.2%).