Vermont’s Unemployment Rate Rose to 2.3 Percent in October

FOR IMMEDIATE RELEASE
November 19, 2024

Contact: 
Mathew Barewicz, E & LMI Director, Department of Labor
802-828-4153 | mathew.barewicz@vermont.gov

Vermont’s Unemployment Rate Rose to 2.3 Percent in October

Today, the Vermont Department of Labor released data on the Vermont economy for the time period covering October 2024. According to household data, the seasonally-adjusted statewide unemployment rate for October was 2.3 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 65.6 percent in October, a decrease of one-tenth of one percentage point from the prior month’s revised estimate.

This week marks the 10th anniversary of National Apprenticeship Week, and Governor Phil Scott has officially proclaimed November 17 - 23, 2024, as National Apprenticeship Week here in Vermont. Throughout the week, the Department of Labor will highlight participating employers and apprentices from across the State.

The “Earn While You Learn” apprenticeship model has been shown to benefit employees and employers. It is both a proven workforce development tool and an effective method for improving employee retention. The range of apprenticeship-able jobs has expanded and truly presents opportunities for everyone. Vermont currently has more than 125 individualized apprenticeship programs with 450 participating employers and more than 1,550 individuals enrolled as active apprentices. The marketable skills learned through these programs are a path toward success for both the apprentice and the employer. To learn more about the State’s Registered Apprenticeship Program, visit https://labor.vermont.gov/workforce-development.” - Michael Harrington Commissioner

The Vermont seasonally-adjusted unemployment rate increased to 2.3 percent in October. The comparable United States rate in October was 4.1 percent, no change from the revised September estimate. The seasonally-adjusted Vermont data for October show the Vermont civilian labor force decreased by 105 from the prior month’s revised estimate (see Table 1). The number of employed persons decreased by 344 and the number of unemployed persons increased by 239. None of the changes were statistically significant in the seasonally-adjusted series.

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To view the full press release, visit vtlmi.info.