Vermont unemployment increases again to 5.7 percent

first_imgTotal Labor Force359,800361,400360,200-1,600-400   Employment339,300341,500338,300-2,2001,000   Unemployment20,50019,90021,900600-1,400   Rate (%)5.75.56.10.2-0.4Vermont’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. July2011June2011July2010June2011July2010        Changes Fromcenter_img The Vermont Department of Labor has announced that the seasonally-adjusted statewide unemployment rate for July 2011 increased by two-tenths of a percent to 5.7 percent. Although this reflects the third month in a row that Vermont experienced an increase in the statewide rate, the Vermont July 2011 unemployment rate is .4 percent lower than in July 2010, and 3.4 percent lower than the national unemployment rate. Total employment showed a similar pattern, with numbers down from June 2011 but up from July 2010 (sse table below).‘The July numbers reflect mixed indicators on the economic recovery. While the increase in the   seasonally-adjusted unemployment rate is concerning, there were positive job numbers in Vermont in industries such as Manufacturing and Leisure & Hospitality.  The country’s economic transition means that job seekers have to translate their current experience – and willingness to learn – to meet the needs of employers who are hiring. There is tremendous opportunity to match-up Vermont’s unemployed, under-employed and ‘discouraged workers’ with the job openings in Vermont. To do this, we need Vermont employers to list their job openings with the Department of Labor, and we need job seekers to register on Vermont Job-Link and work with our regional office staff so we can connect employers with people who are job-ready and available for work. The Department can also provide assistance with training money for employers (Workforce Education & Training Funds) and for workers (WIA, Wagner-Peyser, State Apprenticeship, etc). The best way to find out jobs and eligibility for training money is to visit a regional office’ said Labor Commissioner Annie Noonan. State of Vermont OverviewThe Vermont seasonally adjusted unemployment rate increased by two-tenths of a percent in July to 5.7 percent.  The United States decreased one-tenth of a percent to 9.1 percent over the same time period.  The seasonally-adjusted Vermont data show declines to both total labor force and total employment ‘ 1,600 and 2,200, respectively.  Total unemployment increased by 600, though this change is not statistically significant.  An analysis of the not-seasonally-adjusted household numbers reflects the opposite – increases to the Vermont labor force and total employment coupled with a decrease to the number of unemployed. July unemployment rates for Vermont’s 17 labor market areas ranged from 3.7 percent in Hartford to 8.2 percent in Newport (note: local labor market area unemployment rates are not seasonally adjusted).  For comparison, the July unadjusted unemployment rate for Vermont was 5.6 percent which is unchanged from the June level.  This unadjusted statewide data is down two-tenths of a percent from a year ago. Analysis of Job Changes by IndustryThe preliminary ‘not seasonally adjusted’ jobs numbers for July show a decrease of 6,150 jobs when compared to the revised June numbers.  This reported over the month change does not include the 200 job decrease between the preliminary and the revised June estimates due to the inclusion of more data.  Overall, this monthly change in the ‘not seasonally adjusted’ numbers between June and July (a decline of 6,150 jobs) is typical.  As detailed in the preliminary ‘not seasonally adjusted’ July data, Total Private reports an increase of 3,650 jobs, and Government reports a decrease of 9,800 jobs.  In the private sector, Leisure & Hospitality (+1,750 jobs), Construction (+700 jobs) and Education & Health Services (+550 jobs) reported the largest nominal increases.  The majority of the reported over the month job loss was concentrated within Local Government Education (-10,250 jobs) which is typical between June and July each year.  The seasonally adjusted data for July reports no change from the revised June data.  As with the ‘not seasonally adjusted’ data, this over the month change is from the revised June numbers which experienced a downward revision from the preliminary estimates of 500 jobs.  A review of the seasonally adjusted July numbers shows Vermont’s Private Industries with an increase of 1,300 jobs which was offset by an equal decline in Total Government.  The two sub-industries of note with positive job gains over the month were Accommodation & Food Service (+700) and Durable Manufacturing (+500).  Industries with job losses of note were Local Government (-1,500), State Government (-300) and Retail Trade (-300).Vermont Labor Force Statistics (Seasonally Adjusted)last_img

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