Vermont unemployment rate moves up three-tenths to 5.2%

first_imgMontpelier — The Vermont Department of Labor announced October 21, 2008, that the seasonally adjusted unemployment rate for September 2008 was 5.2% percent, up three-tenths of a point from the revised August rate of 4.9% and up 1.3 points from a year ago.”The nation’s housing and financial services crisis continues to impact Vermont’s labor market,” said Patricia Moulton Powden, Commissioner of the Vermont Department of Labor. “Seasonally adjusted employment improved a bit in September, but the unemployment rate ticked up to 5.2%.”Before adjustment, Total Non-Farm jobs grew by 7,250 or 2.4% from August to September. Despite this growth, Total Non-Farm jobs remains down by 0.1%, or about 400 jobs, over the year. The Leisure and Hospitality sector showed its expected seasonal decline of 2,550 jobs or -7.3%. The Manufacturing and Construction sectors have contracted by 800 and 750 jobs respectively over the year.A large monthly seasonal gain came from state and local government as school support staffs return to work. And the Healthcare and Social Assistance sectors showed significant annual gains, growing by 950 jobs or 2.1% over the year.When seasonally adjusted, job levels increased slightly by 100 jobs over August, but still lag a year ago by 700 or -0.2%. Job losses were spread over most industry sectors with only Transportation, Warehousing & Utilities, (+300 / +3.5%), Health Care & Social Assistance, (+200 / +0.3%), and Other Services, (+100 / +0.6%) showing measurable growth in seasonally adjusted private sector jobs.Vermont’s observed seasonally adjusted monthly changes in employment, unemployment and unemployment rate are not statistically different from August values. For comparison purposes, the US seasonally adjusted unemployment rate for August was 6.1 percent, unchanged from August 2008. Unemployment rates for Vermont’s 17 labor market areas ranged from 3.0 percent in Hartford to 6.3 percent in Newport. Local labor market area unemployment rates are not seasonally adjusted. For comparison, the unadjusted unemployment rate for Vermont was 4.9 percent, up seven-tenths of a point from August 2008 and up 1.3 points from a year ago. Job counts decline slightly in September. Unemployment moves up three – tenths to 5.2%October 21, 2008 “The nation’s housing and financial services crisis continues to impact Vermont’s labor market.  Seasonally adjusted employment improved a bit in September, but the unemployment rate ticked up to 5.2%.” Patricia Moulton PowdenCommissioner of the Vermont Department of Labor September2008 August2008 September2007 Total Labor Force 353,300 351,100 352,600   Employment 334,900 333,800 339,000   Unemployment 18,300 17,300 13,600   Rate 5.2% 4.9% 3.9% Vermont Labor Force Statistics Seasonally Adjustedlast_img

Leave a Reply

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