FOR IMMEDIATE RELEASE
Contact:
Mathew Barewicz, E & LMI Director, Department of Labor
802-828-4153 | mathew.barewicz@vermont.gov
Vermont’s Unemployment Rate Held at 2.1 Percent in May
Today, the Vermont Department of Labor released data on the Vermont economy for the time period covering May 2024. According to household data, the seasonally-adjusted statewide unemployment rate for May was 2.1 percent. This reflects no change from the prior month’s revised estimate. The civilian labor force participation rate was 65.6 percent in May, an increase of one-tenth of one percentage point from the prior month’s revised estimate.
“The preliminary May 2024 data indicates the Vermont labor market continues on a stable and consistent path. Employers are hiring, wages have been rising, and unemployment is low. For example, employment in the Accommodations and Food Services industry is now higher than pre-pandemic levels. In addition, and more broadly, the household survey data estimates there are nearly 350,000 working Vermonters, which is the largest in state history. The Department continues to expand its partnerships with employers, training providers, and job seekers. Also of note, this week, on June 27th in Brattleboro, there will be an Apprenticeship Job Fair at the Department of Labor’s Brattleboro Job Center from 3:30pm to 5:30pm. To learn more about this event, as well as others, please visit https://labor.vermont.gov/workforce-development.” - Michael Harrington, Commissioner
The Vermont seasonally-adjusted unemployment rate held steady at 2.1 percent in May. The comparable United States rate in May was 4.0 percent, an increase of one-tenth of one percentage point from the revised April estimate. The seasonally-adjusted Vermont data for May show the Vermont civilian labor force increased by 655 from the prior month’s revised estimate (see Table 1). The number of employed persons increased by 663 and the number of unemployed persons decreased by 8. None of the changes were statistically significant in the seasonally-adjusted series.
The May unemployment rates for Vermont’s 17 labor market areas ranged from 1.7 percent in Burlington-South Burlington, Middlebury, and White River Junction to 2.9 percent in Derby (note: local labor market area unemployment rates are not seasonally-adjusted – see Table 2). For comparison, the May unadjusted unemployment rate for Vermont was 2.0 percent, a decrease of three-tenths of one percentage point from the revised unadjusted April level and an increase of four-tenths of one percentage point from a year ago.
The Unemployment and Jobs Report for June is scheduled to be released on Friday, July 19, 2024, at 10:00 a.m.
To view the full press release, visit vtlmi.info. View the PDF version.
