FOR IMMEDIATE RELEASE
Contact:
Mathew Barewicz, E & LMI Director, Department of Labor
802-828-4153 | mathew.barewicz@vermont.gov
Vermont’s Unemployment Rate Decreases to 2.2 Percent in March
Today, the Vermont Department of Labor released data on the Vermont economy for the time period covering March 2024. According to household data, the seasonally-adjusted statewide unemployment rate for March was 2.2 percent. This reflects a decrease of one-tenth of one percentage point from the prior month’s revised estimate. The civilian labor force participation rate was 65.4 percent in March, an increase of one-tenth of one percentage point from the prior month’s revised estimate.
“Today the Department is releasing preliminary statewide estimates for March 2024 as well as revised historical data for the sub-state regions within Vermont. The updated data shows that the Burlington-South Burlington labor market area had the lowest unemployment rate (1.6%) while the Derby labor market had the highest unemployment rate (3.6%) in 2023. Regional data is critical to local planning and economic development efforts. Post the 2020 Census, the federal government has decided to move away from town defined labor market areas. As a result, starting in mid-2024, there will be changes to the availability of sub-state data in Vermont. This process is on-going and not yet complete. We are starting to notify data users of this upcoming change. If you have questions about the pending changes to sub-state data or want to talk more about labor data in Vermont, please call 802-828-4157 or email labor.lmi@vermont.gov to communicate directly with a labor market information specialist.” - Michael Harrington, Commissioner
The Unemployment and Jobs Report for April is scheduled to be released on Friday, May 17, 2024, at 10:00 a.m.
To view the full press release, visit vtlmi.info
