FOR IMMEDIATE RELEASE
March 11, 2024
Contact:
Mathew Barewicz, E & LMI Director, Department of Labor
802-828-4153 | mathew.barewicz@vermont.gov
Vermont’s Unemployment Rate Held at 2.3 Percent in January
Today, the Vermont Department of Labor released data on the Vermont economy for the time period covering January 2024. According to household data, the seasonally-adjusted statewide unemployment rate for January was 2.3 percent. This reflects no change from the prior month’s revised estimate. The civilian labor force participation rate was 65.1 percent in January, an increase of one-tenth of one percentage point from the prior month’s revised estimate.
“Today the Department is releasing estimates for January 2024 as well as revised estimates to recent historical data. The updated data for 2023 shows that the initial estimates of jobs and the labor force underestimated the level of economic activity in the state. Specifically, preliminary estimates undercounted filled jobs by approximately 2,300 or nearly 1%, while the size of the labor force was revised up by almost 2,400 or nearly 1% such that the statewide labor force participation rate is higher by five-tenths of one percentage point.
This updated information more accurately reflects the economic growth the state has witnessed and bodes well for 2024. To support both job seekers and employers, the Department of Labor recently announced a new Work Based Learning and Training Grant opportunity. To learn more about these grants including how to apply, visit https://labor.vermont.gov/grants/work-based-learning-and-training or contact Labor.Grants@vermont.gov with any questions. The deadline is March 18th, 2024.” - Michael Harrington, Commissioner.
The Unemployment and Jobs Report for February is scheduled to be released on Friday, March 22, 2024 at 10:00 a.m.
To view the full press release, visit vtlmi.info.