Vermont Labor Market

The Department of Labor announced that the seasonally-adjusted statewide unemployment rate for September was 2.9%. This reflects an increase of one-tenth of one percentage point from the revised August rate. The national rate in September was 3.7%. As of the prior month’s preliminary data, the Burlington-South Burlington Metropolitan NECTA was tied for the twenty-first lowest unemployment rate in the country for all metropolitan areas. Overall, Vermont’s unemployment rate was tied for fifth lowest in the country for the same time period.

The Vermont seasonally-adjusted unemployment rate increased in September to a level of 2.9%. The comparable United States rate in September was 3.7%, which reflects a decrease of two-tenths of one percentage point from the revised August estimate. The seasonally-adjusted Vermont data for September show the Vermont civilian labor force decreased by 1,057 from the prior month’s revised estimate. The number of employed persons decreased by 1,062 and the number of unemployed persons increased by 5. Changes in the labor force and employment were statistically significant in the seasonally-adjusted series.

The September unemployment rates for Vermont’s 17 labor market areas ranged from 2.3% in White River Junction to 4.5% in Derby (note: local labor market area unemployment rates are not seasonally-adjusted). For comparison, the September unadjusted unemployment rate for Vermont was 2.8% which reflects no change from the revised unadjusted August level and a decrease of one-tenth of one percentage point from a year ago.

The preliminary ‘not-seasonally-adjusted’ jobs estimates for September show an increase of 2,700 jobs when compared to the revised August numbers. There was an increase of 300 jobs between the preliminary and the revised August estimates due to the inclusion of more data. The monthly increase seen in the September numbers was primarily attributable to seasonal activity related to education. 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’ September data, Total Private industries have decreased by 2,400 jobs (-0.9%) and Government (including public education) employment has decreased by 700 jobs (-1.2%) in the past year.

The seasonally-adjusted data for September reports a decrease of 500 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 an increase of 100 jobs from the preliminary estimates. The seasonally-adjusted over-the-month changes in September were mixed at the sector level. Those with a notable increase include: Administrative & Waste (+200 jobs or +1.7%), Federal Government (+100 jobs or +1.4%), and Finance & Insurance (+100 jobs or +1.1%). Sectors with a notable decrease include: Arts, Entertainment & Recreation (-300 jobs or -5.9%), Real Estate, Rental & Leasing (-100 jobs or -3.1%), and Information (-100 jobs or -2.4%).