Vermont unemployment rate drops to 5.8 percent in September

first_imgSeptember2010August2010September2009August2010September2009 Source: Vermont DOL. 10.22.2010 Total Labor Force356,000355,800358,400200-2,400   Employment335,300334,500334,000       8001,300   Unemployment20,70021,30024,400-600-3,700   Rate (%)5.86.06.8-0.2-1.0Vermont’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. Analysis of Job Changes by Industry State of Vermont Overview The preliminary ‘not seasonally adjusted’ jobs numbers for September show an increase of 6,850 jobs when compared to the revised August numbers. This reported over the month change does not include the 300 job increase between the preliminary and the revised August estimates due to the revision process and the inclusion of more sample data. As detailed in the preliminary September data, Total Private reports a decrease of 2,800 jobs and Government reports an increase of 9,650 jobs. The increase in Government jobs is related to the start of the school year and the increase of 9,050 Local Government Education jobs. In the private sector, Private Education Services added 1,550 jobs over the month. However this private sector job gain was negated by a decrease of -3,100 jobs in the Accommodation and Food Services industry. This time of year is notable for schools resuming normal activity and for falling between major tourism seasons as summer operations ramp down prior to the start of winter activities. Unfortunately, the survey reference period typically fails to accurately capture employment changes due to autumn tourist activity. The Vermont Department of Labor announced today the seasonally adjusted unemployment rate for September 2010 was 5.8 percent which is a decrease of two tenths of percent from the previous month’s reported level of 6.0 percent. Compared to a year ago, the September unemployment rate is lower by a full percentage point.  Since the start of the calendar year, the Vermont seasonally adjusted unemployment rate has been in continued decline. In January it was 6.7 percent. February and March were 6.6 percent. Then the next three months each saw declines of two tenths of percent to put the state rate at 6.0 percent in June, where it stayed for three consecutive months leading up to today’s announcement. The US rate for September was 9.6 percent.‘The Manufacturing Sector is reporting the highest level of employment since second quarter of 2009,’ said Valerie Rickert, Acting Commissioner of the Vermont Department of Labor. ‘This is an indication of increased confidence by employers. The Vermont economy continues to show positive trends as we gain distance from the trough of the last business cycle which occurred in June 2009.’        Changes From Vermont Labor Force Statistics (Seasonally Adjusted) Vermont’s September seasonally adjusted unemployment was 5.8 percent. The underlying data showed favorable movement with increases to the labor force (+200) and total employment (+800), and a decrease to total unemployment (-600). For comparison purposes, the United States seasonally adjusted unemployment rate for September was 9.6 percent.September unemployment rates for Vermont’s 17 labor market areas ranged from 3.6 percent in Hartford to 7.0 percent in Newport. Local labor market area unemployment rates are not seasonally adjusted. For comparison, the September unadjusted unemployment rate for Vermont was 5.3 percent, which was two tenths of a percentage point lower than the revised August data and down one and one tenth percent from a year ago. The annual rate of unadjusted job growth was -0.3%, which is unchanged from the revised August estimate.The seasonally adjusted data for September reports a decrease of 300 jobs from the revised August data. As with the ‘not seasonally adjusted’ data, this over the month change is from the revised August numbers which experienced a positive revision from the preliminary August estimates of 300 jobs. Similar to the national picture, when seasonally adjusted, Vermont’s Private Industries’ reported job gains (+100 jobs) were offset by larger job declines from Total Government (-400 jobs). State Government showed a decline of 500 jobs though the largest job decline came from Leisure & Hospitality (-1,500). For the second consecutive month, Durable Goods Manufacturing has a notable job increase (+400).last_img

Leave a Reply

Your email address will not be published. Required fields are marked *