Vermont’s Unemployment Rate Increases to 3.1 Percent in June
Today, the Vermont Department of Labor released data on the Vermont economy for the time period covering June 2021. According to household data, the seasonally-adjusted statewide unemployment rate for June was 3.1 percent. This reflects an increase of one-tenth of one percentage point from the prior month’s revised estimate. The May 2021 preliminary estimate was revised up four-tenths of one percentage point due to the inclusion of more data.
““Unlike the decline, which was sharp and abrupt, the economic recovery continues to slowly gain back what was lost. The size of the labor force and the number of filled positions in the Vermont economy continue to grow. Vermont businesses are reporting high levels of open positions. No matter the job market, finding work can be a full-time job. Even in a good hiring market, job seekers may face challenges that make it difficult to find and accept work. The Vermont Department of Labor’s field staff are operational in both physical and virtual settings. These services can assist job seekers in making the right connections with employers and finding successful employment. Please visit our website to learn more https://labor.vermont.gov/. Lastly, please be careful about unsolicited inquiries seeking your personal information. There are a lot of fraudsters out there trying to take advantage of Vermonters in need.” - Michael Harrington, Labor Commissioner
State of Vermont Overview
The Vermont seasonally-adjusted unemployment rate increased to 3.1 percent in June. The comparable United States rate in June was 5.9 percent, which was an increase 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 972 from the prior month’s revised estimate (see Table 1). The number of employed persons increased by 853 and the number of unemployed persons increased by 119. None of the changes were statistically significant in the seasonally-adjusted series.
The June unemployment rates for Vermont’s 17 labor market areas ranged from 3.0 percent in Barre-Montpelier and Middlebury to 5.1 percent in Woodstock (note: local labor market area unemployment rates are not seasonally-adjusted – see Table 2). For comparison, the June unadjusted unemployment rate for Vermont was 3.5 percent, which was an increase of nine-tenths of one percentage point from the revised unadjusted May level and a decrease of four and four tenths percentage points from a year ago.
Analysis of Job Changes by Industry
Seasonally-Adjusted (Table 3)
The seasonally-adjusted data for June reports an increase of 1,600 jobs from the revised May data. There was an increase of 300 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 varied at the industry level. Those with a notable increase include: Private Educational Services, (+1,200 or +9.7%), Arts, Entertainment & Recreation (+200 jobs or +6.1%) and Durable Goods Manufacturing (+400 or +2.2%). Industries with a notable decrease include: Construction (-500 jobs or -3.4%), Real Estate, Rental, and Leasing (-100 or -3.3%), and Information (-100 or -2.6%).
Not-Seasonally-Adjusted (Table 4)
The preliminary ‘not-seasonally-adjusted’ jobs estimates for June shows an increase of 4,100 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 an increase of 300 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 have increased by 22,700 jobs (+10.3%) and Government (including public education) employment has increased by 500 jobs (+1.0%) in the past year.
The Unemployment and Jobs Report for June is scheduled to be released on Friday, Agust 20, 2021 at 10:00 a.m. Read full report at http://www.vtlmi.info/press.pdf.