by Timothy McQuiston, Vermont Business Magazine Vermont’s seasonally adjusted unemployment rate was unchanged at 3.0% in August, according to the Vermont Department of Labor. This does not reflect any change from the revised estimate for the previous month. The comparable rate for the United States in August was 5.2 percent, down two-tenths of a percentage point from the revised July estimate.

Both the labor force and the number of employees posted significant gains from July. However, even though the number of employees and unemployed showed a major improvement over last year, the labor force is still down by almost 5,000 workers.

Vermont is tied for the fifth lowest rate in the country, with New Hampshire. Nebraska is first at 2.2 percent. Nevada has the highest rate at 7.7 percent.

Releasing the unemployment rate, VDOL Commissioner Michael Harrington said: “Recently, the expanded federal unemployment benefit programs that were put in place to mitigate the economic impact of COVID-19 ended here. in Vermont and across the country. Although these programs have expired, our department still manages the state’s traditional unemployment insurance benefit program, while providing a full range of re-employment services. We know these efforts will play a key role as Vermonters navigate the new economic landscape.

“Understanding your employment and training options is crucial in making a decision about the next step in your career path. If you are unsure of where to start, please contact one of our local career specialists to learn more about free resources for job seekers. Additionally, be sure to check out VermontJobLink.com to search for available jobs in Vermont. Employers can also use Vermont Job Link to post their vacancies. More information can be found online at Labor.vermont.gov/jobs or by calling 833-719-1051.

This data does not include the impact of the end of Federal Pandemic Unemployment Assistance, which ended in Vermont on September 4. The impact of losing PUA and other related programs may not appear for a few months.

The unemployment rate is estimated based on household data collected by the US Census in the middle of each month.

Seasonally adjusted data from Vermont for August show that Vermont’s civilian labor force increased by 1,286 from the revised estimate for the previous month (see Table 1). The number of employed increased by 1,247 and the number of unemployed increased by 39. Changes in the labor force and the number of employed were statistically significant in the seasonally adjusted series.

August unemployment rates for the 17 Vermont labor market zones ranged from 2.3% in White River Junction to 4.3% in Bennington (note: unemployment rates for local labor market zones are not not seasonally adjusted – see Table 2). For comparison, the August unadjusted unemployment rate for Vermont was 3.0%, which is a decrease of two tenths of a percentage point from the revised unadjusted July level and a decrease two percentage points from a year ago.

Seasonally adjusted (Table 3)

Seasonally adjusted data for August show a decrease of 1,300 jobs compared to revised data for July. There was a decrease of 1,000 jobs between the preliminary and revised July estimates due to the inclusion of more data. Seasonally adjusted monthly changes in August varied at the industry level. Those that saw a notable increase include: Arts, entertainment and recreation (+400 jobs or + 10.3%), Wholesale trade (+100 jobs or + 1.2%) and Accommodation and food services (+300 or +1.1%). Industries with a notable decline include: Unsustainable manufacturing (-400 jobs or

-3.4%), Real Estate, Rental & Leasing (-100 jobs or -3.4%) and Other services (-300 or -2.8%).

Non-seasonal-adjusted (Table 4)

Preliminary “unadjusted for seasonality” employment estimates for August show a decrease of 2,500 jobs from the revised July figures. As with the “seasonally adjusted” data, this change during the month stems from the revised July figures which saw a decrease of 300 jobs compared to preliminary estimates. The larger economic picture can be seen by focusing on the changes over the course of the year in this data series. As detailed in preliminary “unadjusted” August data, total private industries increased by 18,200 jobs (+ 7.9%) and government employment (including public education) decreased by 1 200 jobs (-2.5%) in the past year. .

The September Unemployment and Employment report is expected to be released on Friday, October 22, 2021 at 10 a.m.

Date of last modification: September 17, 2021