Thursday, December 1 2022

by Timothy McQuiston, Vermont Business Magazine Vermont’s unemployment rate fell another two ticks in March as all three major indicators showed significant improvement. The Vermont Department of Labor released the March 2022 jobs report today. According to household data, the statewide seasonally adjusted unemployment rate was 2.7%. This reflects a decrease of two tenths of a percentage point from the previous month’s revised estimate and a decrease of 1.1% from March 2021.

The labor force increased by 1,389 people compared to February and by 3,865 compared to the same period last year. The number of employed people increased by 2,133 compared to February and by 7,629 compared to last year and the number of unemployed decreased by -744 and -3,764 respectively.

The comparable rate in the United States in March was 3.6%, down two tenths of a percentage point from the revised February estimate.

Vermont is tied for the ninth-lowest rate in the nation and the second-lowest in the East behind New Hampshire (2.5%). See table below.

Vermont Labor Commissioner Michael Harrington said, “As we know, Vermont’s economy changes with the seasons and as the sap flows, so do the jobs. April, May and June are a time of transition for many Vermonters as they return to work or transition from winter to summer operations. More specifically, this is a period when programs of study, including apprenticeships, are approaching the end of studies. This represents an important opportunity for employers to partner with the Vermont Department of Labor and education service providers to leverage this population and their newly acquired skills and abilities as they join the workforce. active population. With that in mind, it should come as no surprise that March household data showed an increase in Vermont’s labor force and the number of people working in the state – a trend that is expected to continue throughout the year. ‘summer.”

“The Department of Labor has already planned a number of hiring events, and employers are encouraged to take advantage of these opportunities to find key talent.”

Note, is the statewide job fair hosted by the Associated General Contractors of Vermont, which is sponsored in part by the Department of Labor.

This career fair is held Tuesday, April 26 at Champlain Valley Expo and is open to all sectors and industries, including healthcare, government, manufacturing and more.

To learn more about these events and opportunities to connect with job seekers, contact our Workforce Development team at (802) 828-4394 or by visiting Labor.Vermont.gov/Jobs.

Vermont’s seasonally adjusted data for March shows Vermont’s civilian labor force increased by 1,389 from the previous month’s revised estimate (see Table 1 above).

The number of employed persons increased by 2,133 and the number of unemployed fell by 744. The variations in the active population, the number of persons employed, the number of unemployed and the unemployment rate were statistically significant in the seasonally adjusted series.

March unemployment rates for Vermont’s 17 labor market areas ranged from 1.7% in White River Junction to 4.7% in Derby (note: local labor market area unemployment rates are not shown). seasonally adjusted – see Table 2).

By comparison, the unadjusted March unemployment rate for Vermont was 2.4%, a decrease of four tenths of a percentage point from the revised unadjusted February level and a decrease of two percentage points from a year ago.

Seasonally adjusted data (Table 3)

Seasonally adjusted data for March show a decrease of 100 jobs compared to the revised data for February. There was an increase of 700 jobs between the preliminary estimates and the revised February estimates due to the inclusion of more data. The seasonally adjusted changes in the month in March varied at the industry level. Those that saw a notable increase include: accommodation and food services (+600 jobs or +2.1%) and federal government (+100 jobs or +1.5%). Industries with a notable decline include: State Government (-500 jobs or -2.9%) and Professional and Technical Services (-300 jobs or -1.9%).

Not seasonally adjusted (table 4)

Preliminary “unadjusted” employment estimates for March show a decrease of 800 jobs from the revised figures for February. As with the “seasonally adjusted” data, this change in the month comes from the revised February figures which saw an increase of 400 jobs compared to the preliminary estimates. The broader economic picture can be seen by focusing on the changes over the year in this data series. As detailed in the preliminary “unadjusted” March dataTotal private industries increased by 8,000 jobs (+3.4%) over the year and employment in the public sector (including public education) increased by 700 jobs (+1.3%) over the past year.

The April unemployment and employment report is scheduled for release on Friday, May 20, 2022 at 10:00 a.m. See the most recent report on VTlmi.info/press.pdf.

Unemployment rates for states, seasonally adjusted
State March 2022

rate

Rank

Nebraska

2.0 1

Utah

2.0 1

Indiana

2.2 3

Montana

2.3 4

Kansas

2.5 5

Minnesota

2.5 5

New Hampshire

2.5 5

South Dakota

2.5 5

Idaho

2.7 9

Oklahoma

2.7 9

Vermont

2.7 9

Wisconsin

2.8 12

Alabama

2.9 13

North Dakota

2.9 13

Virginia

3.0 15

Arkansas

3.1 16

Georgia

3.1 16

Florida

3.2 18

Tennessee

3.2 18

Arizona

3.3 20

Iowa

3.3 20

Rhode Island

3.4 22

Caroline from the south

3.4 22

Wyoming

3.4 22

North Carolina

3.5 25

Maine

3.6 26

Missouri

3.6 26

Colorado

3.7 28

West Virginia

3.7 28

Oregon

3.8 30

Kentucky

4.0 31

Hawaii

4.1 32

Ohio

4.1 32

Louisiana

4.2 34

Mississippi

4.2 34

New Jersey

4.2 34

Washington

4.2 34

Massachusetts

4.3 38

Michigan

4.4 39

Texas

4.4 39

Delaware

4.5 41

Connecticut

4.6 42

Maryland

4.6 42

New York

4.6 42

Illinois

4.7 45

California

4.9 46

Pennsylvania

4.9 46

Alaska

5.0 48

Nevada

5.0 48

New Mexico

5.3 50

District of Colombia

6.0 51

Note: Rates shown are a percentage of the labor force. Data refer to place of residence. Estimates for the current month are subject to revision the following month.

15.04.2022 Montpellier www.labor.vermont.gov

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