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 2.2 Percent in August
Today, the Vermont Department of Labor released data on the Vermont economy for the time period covering August 2024. According to household data, the seasonally-adjusted statewide unemployment rate for August was 2.2 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 65.7 percent in August, no change from the prior month’s revised estimate.
“The new monthly data for August shows little movement in Vermont’s labor market. Even with a slight uptick in the unemployment rate, August’s rate is still at a near-historic low. With the end of summer, many seasonal businesses start slowing down while industries like education start ramping up. To support this migration, the Department hosts multiple job fairs connecting Vermonters looking for new opportunities with Vermont businesses needing talent. Recent job fairs in Rutland and Bennington yielded positive results for both workers and employers and coming up, the Department will be in Lyndon Center on September 27th and White River Junction on October 3rd. To learn more about these events, visit: https://labor.vermont.gov/press-release/vermont-department-labor-kicks-annual-fall-job-fest-series.” - Michael Harrington, Commissioner
The Vermont seasonally-adjusted unemployment rate increased to 2.2 percent in August. The comparable United States rate in August was 4.2 percent, a decrease of one-tenth of one percentage point from the revised July estimate. The seasonally-adjusted Vermont data for August show the Vermont civilian labor force increased by 121 from the prior month’s revised estimate (see Table 1). The number of employed persons decreased by 86 and the number of unemployed persons increased by 207. None of the changes were statistically significant in the seasonally-adjusted series.
The August unemployment rates for Vermont’s 17 labor market areas ranged from 2.0 percent in White River Junction to 3.3 percent in Bennington (note: local labor market area unemployment rates are not seasonally-adjusted – see Table 2). For comparison, the August unadjusted unemployment rate for Vermont was 2.4 percent, an increase of three-tenths of one percentage point from the revised unadjusted July level and an increase of four-tenths of one percentage point from a year ago.
The Unemployment and Jobs Report for September is scheduled to be released on Tuesday, October 22, 2024, at 10:00 a.m.
To view the full release, visit vtlmi.info.
