FOR IMMEDIATE RELEASE
Contact:
Mathew Barewicz, E & LMI Director, Department of Labor
802-828-4153 | mathew.barewicz@vermont.gov
Vermont's Unemployment Rate Rose to 2.0 in October
Today, the Vermont Department of Labor released data on the Vermont economy for the time period covering October 2023. According to household data, the seasonally-adjusted statewide unemployment rate for October was 2.0 percent. This reflects an increase of one-tenth of one percentage point from the prior month’s revised estimate. The civilian labor force participation rate was 64.2 percent in October, an increase of one-tenth of one percentage point from the prior month’s revised estimate.
“For the fifth consecutive month, the monthly data has shown growth in Vermont’s labor force. Going back further, 32 of the last 34 months have shown increases, and the State’s current labor force participation rate of 64.2% is the highest it has been since the start of the pandemic. As National Apprenticeship Week winds down, it is important to highlight the value of apprenticeships both for businesses and individuals. The “Earn While You Learn” model of Registered Apprenticeships, certified through the Vermont Department of Labor, has shown higher earnings and greater likelihood of long-term employment for its graduates. You can visit https://labor.vermont.gov/workforce-development/apprenticeship to learn more.” - Michael Harrington, Commissioner
The Unemployment and Jobs Report for November is scheduled to be released on Friday, December 22nd, 2023 at 10:00 a.m.
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To view the full press release, visit www.vtlmi.info