Vermont Labor Market

The Vermont Department of Labor released data on the Vermont economy for the time period covering September 2023. According to household data, the seasonally-adjusted statewide unemployment rate for September was 1.9%. This reflects an increase of one-tenth of one percentage point from the prior month’s revised estimate. The civilian labor force participation rate was 64.1% in September, an increase of one-tenth of one percentage point from the prior month’s revised estimate.

The Vermont seasonally-adjusted unemployment rate increased to 1.9% in September. The comparable United States rate in September was 3.8%, no change from the revised August estimate. The seasonally-adjusted Vermont data for September show the Vermont civilian labor force increased by 547 from the prior month’s revised estimate. The number of employed persons increased by 349 and the number of unemployed persons increased by 198. No changes were statistically significant in the seasonally-adjusted series.

The September unemployment rates for Vermont’s 17 labor market areas ranged from 1.8% in Burlington-South Burlington and White River Junction to 2.8% in Derby (note: local labor market area unemployment rates are not seasonally-adjusted). For comparison, the September unadjusted unemployment rate for Vermont was 2.0%, a decrease of two-tenths of one percentage point from the revised unadjusted August level and a decrease of seven-tenths of one percentage point from a year ago.

The seasonally-adjusted data for September reported an increase of 900 jobs from the revised August data. There was an increase of 200 jobs between the preliminary and the revised August estimates due to the inclusion of more data. The seasonally-adjusted over-the-month changes in September were varied at the industry level. Those with a notable increase included: Accommodation & Food Services (+700 jobs or +2.4%) and Other Services (+200 jobs or +2.1%). Industries with a notable decrease included: Professional & Technical Services (-300 jobs or -1.8%) and Administrative & Waste Services (-200 jobs or -1.4%).

The preliminary ‘not-seasonally-adjusted’ jobs estimates for September showed an increase of 1,800 jobs when compared to the revised August numbers. As with the seasonally-adjusted data, this over-the-month change is from the revised August numbers which experienced a decrease of 100 jobs from the preliminary estimates. 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 September data, Total Private industries increased by 1,300 jobs (+0.5%) over the year and Government (including public education) employment increased by 2,300 jobs (+4.2%) in the past year.