Vermont Labor Market

The Vermont Department of Labor released data on the Vermont economy for the time period covering November 2020. According to household data, the seasonally-adjusted statewide unemployment rate for November was 3.1%. This reflects a decrease of one tenth of one percentage point from the prior month’s revised estimate of 3.2%.

The Vermont seasonally-adjusted unemployment rate decreased by one tenth of one percentage point to 3.1% in November. The comparable United States rate in November was 6.7%, a decrease of two tenths of one percentage point from the revised October estimate. The seasonally adjusted Vermont data for November show the Vermont civilian labor force increased by 1,867 from the prior month’s revised estimate. The number of employed persons increased by 2,115 and the number of unemployed persons decreased by 248. None of the changes in the seasonally-adjusted series were statistically significant.

The November unemployment rates for Vermont’s 17 labor market areas ranged from 2.1% in White River Junction to 4.7% in Woodstock (note: local labor market area unemployment rates are not seasonally-adjusted). For comparison, the November unadjusted unemployment rate for Vermont was 2.8%, which was an increase of four-tenths of one percentage point from the revised unadjusted October level and an increase of five-tenths of one percentage point from a year ago.

The preliminary ‘not-seasonally-adjusted’ jobs estimates for November show an increase of 1,200 jobs when compared to the revised October numbers. There was no change between the preliminary and the revised October estimates due to the inclusion of more data. The broader economic picture can be seen 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 decreased by 25,700 jobs (-9.9%) and Government (including public education) employment has decreased by 1,500 jobs (-2.5%) in the past year.

The seasonally-adjusted data for November reports an increase of 1,700 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 decrease of 100 jobs from the preliminary estimates. The seasonally-adjusted over-the-month changes in November varied at the industry level. Those with a notable increase include: Administrative & Waste Services (+700 jobs or +5.6%), Private Educational Services (+300 jobs or +2.6%), and Local Government (+600 jobs or +2.2%). Industries with a notable decrease include: Accommodation & Food Services (-900 jobs or -4.3%), Construction (-400 jobs or -3.5%), and Federal Government (-200 jobs or -2.7%).