FOR IMMEDIATE RELEASE
July 21, 2023
Contact:
Mathew Barewicz, E & LMI Director, Department of Labor
802-828-4153 | mathew.barewicz@vermont.gov
Vermont’s Unemployment Rate Decreased to 1.9 Percent in June
Today, the Vermont Department of Labor released data on the Vermont economy for the time period covering June 2023. According to household data, the seasonally-adjusted statewide unemployment rate for June was 1.9 percent. This reflects a decrease of two-tenths of one percentage point from the prior month’s revised estimate. The civilian labor force participation rate was 63.7 percent in June, unchanged from the prior month.
“This report presents data captured from June of this year, and therefore doesn’t incorporate any impacts from the July flood. So, while these updates to the economic picture are useful, we anticipate changes in future reports as we learn the full effects of this historic disaster.
Currently, the focus of the Department is on helping Vermonters recover by working with federal partners to ensure relief efforts include all possible means of support to those impacted by the flood. Additionally, our workforce teams are in the field assisting at various state resource centers.
Also, this week, the Vermont Department of Labor issued a formal announcement highlighting the federal program known as Disaster Unemployment Assistance (DUA). This announcement marks the official start of the program and outlines the various requirements for eligibility. Information about DUA for Vermonters can be found online at https://labor.vermont.gov/dua, but anyone who has seen their hours or wages impacted by the flood should file first for traditional unemployment insurance benefits. This includes self-employed individuals and independent contractors.”
- Michael Harrington, Commissioner
The Vermont seasonally-adjusted unemployment rate declined to 1.9 percent in June. The comparable United States rate in June was 3.6 percent, a decrease of one-tenth of one percentage point from the revised May estimate. The seasonally-adjusted Vermont data for June show the Vermont civilian labor force increased by 547 from the prior month’s revised estimate (see Table 1). The number of employed persons increased by 1,204 and the number of unemployed persons decreased by 657. The changes to the number of employed persons, the number of unemployed persons and the unemployment rate were statistically significant in the seasonally-adjusted series.
The June unemployment rates for Vermont’s 17 labor market areas ranged from 1.7 percent in White River Junction to 3.3 percent in Derby (note: local labor market area unemployment rates are not seasonally-adjusted – see Table 2). For comparison, the June unadjusted unemployment rate for Vermont was 2.1 percent, an increase of four-tenths of one percentage point from the revised unadjusted May level and a decrease of eight-tenths of one percentage point from a year ago.
Seasonally-Adjusted (Table 3)
The seasonally-adjusted data for June reported a decrease of 4,300 jobs from the revised May data. There was a decrease of 800 jobs between the preliminary and the revised May estimates due to the inclusion of more data. The seasonally-adjusted over-the-month changes in June were varied at the industry level. Those with a notable increase included: Administrative & Waste Services (+200 jobs or +1.4%) and State Government (+200 jobs or +1.1%). Industries with a notable decrease included: Private Education (-2,500 jobs or -18.8%) and Wholesale Trade (-300 jobs or -3.4%).
Not-Seasonally-Adjusted (Table 4)
The preliminary ‘not-seasonally-adjusted’ jobs estimates for June showed an increase of 1,800 jobs when compared to the revised May numbers. As with the seasonally-adjusted data, this over-the-month change is from the revised May numbers which experienced a decrease of 500 jobs from the preliminary estimates. The broader economic picture can be seen by focusing on the over-the-year changes in this data series. As detailed in the preliminary not-seasonally-adjusted June data, Total Private industries increased by 400 jobs (+0.2%) over the year and Government (including public education) employment increased by 3,300 jobs (+6.5%) in the past year.
The Unemployment and Jobs Report for July is scheduled to be released on Friday, August 18th, 2023 at 10:00 a.m.
To view the full press release, visit www.vtlmi.info