FOR IMMEDIATE RELEASE
March 22, 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 February
Today, the Vermont Department of Labor released data on the Vermont economy for the time period covering February 2024. According to household data, the seasonally-adjusted statewide unemployment rate for February was 2.3 percent. This reflects no change from the prior month’s revised estimate. The civilian labor force participation rate was 65.3 percent in February, an increase of two-tenths of one percentage point from the prior month’s revised estimate.
"February’s data marks the 40th consecutive month of growth in the labor force, with current estimates showing that Vermont's labor force has reached its highest level since 2018. This increase is not limited to a specific cohort; instead, it reflects a widespread rise across many different demographic populations. However, even with this news, skilled workers remain in high demand across the state, with many employers citing Vermont’s workforce shortage as the number one challenge they face. If you, or someone you know, is interested in a career in the trades or other specialized field, Vermont’s Registered Apprenticeship Program offers an opportunity for individuals to ‘earn while they learn.’ The Department of Labor has recently partnered with the Vermont Manufacturing Extension Center to expand Registered Apprenticeship opportunities within the manufacturing sector. For more information, please visit www.labor.vermont.gov/apprenticeship.” - Michael Harrington, Commissioner
The Unemployment and Jobs Report for March is scheduled to be released on Friday, April 19, 2024 at 10:00 a.m.
To view the full release, visit vtlmi.info.