Vermont unemployment rate unchanged at 3.7 percent

first_img39NORTH CAROLINA5.7 16VIRGINIA4.2 43ARIZONA6.0 29CONNECTICUT5.1 26ARKANSAS5.0 47ALASKA6.4 4HAWAII3.2 4NEW HAMPSHIRE3.2 6IOWA3.4 7UTAH3.5 16OKLAHOMA4.2 43ALABAMA6.0 10VERMONT3.7 21TEXAS4.6 12KANSAS4.0 34NEW JERSEY5.3 7MINNESOTA3.5 3SOUTH DAKOTA3.0 14WYOMING4.1 39CALIFORNIA5.7 16WISCONSIN4.2 39OREGON5.7 39ILLINOIS5.7 48WEST VIRGINIA6.5 22MASSACHUSETTS4.7 32RHODE ISLAND5.2 by Timothy McQuiston Vermont Business Magazine The Vermont Department of Labor announced today that for the third consecutive month the seasonally-adjusted statewide unemployment rate for November was 3.7 percent. This represents no change from the revised October rate (3.7 percent). The national average in November was unchanged at 5.0 percent. Vermont’s unemployment rate is 10th lowest in the country and second lowest in the East behind New Hampshire (tied for 4th at 3.2 percent). Vermont’s ranking, which was second lowest in the US in April 2014, has slipped over the last several months relative to other low-rate states. North Dakota once again was lowest at 2.7 percent and New Mexico was highest at 6.8 percent (see full list below).The seasonally-adjusted Vermont data for November show the Vermont civilian labor force decreased by 1,100 from the prior month estimate. The number of employed decreased by 1,000 and the number of unemployed decreased by 100. None of these over-the-month changes were statistically significant in the seasonally-adjusted series.November represents the third consecutive month with a seasonally-adjusted statewide unemployment rate at 3.7 percent. The unemployment rate this time last year was 4.2 percent, as the labor force fell by 4,700, the number of employed fell by 2,850 and the unemployed fell by 1,850.“Overall, we continue to see a significant number of job opportunities across nearly all employment sectors in Vermont, and a continued decline in the number of unemployed Vermonters over the last year (-12.7%). The Labor Department is working with training and education providers to help develop more short-term training programs designed to match the job-skills needed for current and predicted vacancies. Visit a local Vermont Department of Labor Career Resource Center to learn about Vermont employers with openings and about the significant number of education and training opportunities available,” said Labor Commissioner Annie Noonan.The November unemployment rates for Vermont’s 17 labor market areas ranged from 2.7 percent in Burlington-South Burlington to 5.3 percent in Derby (note: local labor market area unemployment rates are not seasonally-adjusted). For comparison, the November unadjusted unemployment rate for Vermont was 3.5 percent which reflects an increase of three-tenths of a percentage point from the revised unadjusted October level and a decrease of four-tenths of a percentage point from a year ago.Not-Seasonally-Adjusted The preliminary ‘not-seasonally-adjusted’ jobs estimates for November show an increase of 1,000 jobs when compared to the revised October numbers. There was an increase of 200 jobs between the preliminary and the revised October estimates due to the inclusion of more data. The monthly increase seen in the November numbers was attributable to seasonal increases related to Accommodations. 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’ November data, Total Private industries have increased by 2,700 jobs (1.1 percent) and Government employment has increased by 1,300 jobs (2.2 percent) in the past year.Seasonally-Adjusted The seasonally-adjusted data for November reports an increase of 2,900 jobs from the revised October data. As with the ‘not-seasonally-adjusted’ data, this over-the-month change is from the revised October numbers which experienced a 200 job increase from the preliminary estimates. The seasonally-adjusted over-the-month changes in November were varied at the sectorial level. Those with a notable percent increase include: Leisure & Hospitality (+2,400 jobs or +6.7%), Construction (+500 jobs or +3.5%), and Other Services (+200 jobs or +1.9%). Industries with a notable percent decrease include: State Government (-200 jobs or -1.0%), Financial Activities (-100 jobs or -0.8%) and Professional & Business Services (-200 jobs or -0.7%).NOTE: Employment (nonfarm payroll) – A count of all persons who worked full- or part-time or received pay from a nonagricultural employer for any part of the pay period which included the 12th of the month. Because this count comes from a survey of employers, persons who work for two different companies would be counted twice. Therefore, nonfarm payroll employment is really a count of the number of jobs, rather than the number of persons employed. Therefore differing from the Table 1 Labor Force employment numbers. 34WASHINGTON5.3 43MISSISSIPPI6.0 9COLORADO3.6 11IDAHO3.9 22MISSOURI4.7 19INDIANA4.4 2NEBRASKA2.9 14MAINE4.1 46LOUISIANA6.3 50DISTRICT OF COLUMBIA6.6 32MARYLAND5.2 48NEVADA6.5 Unemployment Rates for StatesMonthly RankingsSeasonally AdjustedNov. 2015p 20OHIO4.5 29MICHIGAN5.1 36SOUTH CAROLINA5.5 12MONTANA4.0 24NEW YORK4.8 26PENNSYLVANIA5.0 37TENNESSEE5.6 29DELAWARE5.1 26FLORIDA5.0 1NORTH DAKOTA2.7 RankStateRate 25KENTUCKY4.9 37GEORGIA5.6 51NEW MEXICO6.8 p = preliminary.NOTE: Rates shown are a percentage of the labor force. Data refer to place of residence. Estimates for the current month are subject to revision the following month.Last Modified Date: December 18, 2015last_img read more