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Unemployment rate falls another tenth to 3.1 percent
The Vermont Department of Labor has reported that the seasonally-adjusted statewide unemployment rate for February was 3.1 percent. This reflects a decrease of one-tenth of one percentage point from the prior month’s revised estimate of 3.2 percent. The comparable United States rate in February was 6.2 percent, which was a decrease of one-tenth of one percentage point from the revised January estimate. The decline is largely due to a sharp decrease in the Labor Force from January. The number of unemployed also fell. Both the Labor Force and total Employed represent about 30,000 fewer workers than a year ago, which was pre-pandemic.
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Fri, 04/16/2021 - 10:40am tim
by Timothy McQuiston, Vermont Business Magazine The Vermont seasonally-adjusted unemployment rate fell again and at 2.9 percent in March is back under 3 percent for the first time since just before the pandemic hit in early 2020. The Vermont Department of Labor released the report Friday morning. The rate reflects a decrease of one-tenth of one percentage point from the prior month’s revised estimate of 3.0 percent. It was revised down from 3.1 percent. Vermont now is tied for the lowest rate in the nation with three Western states (
see table below). New Hampshire was next at 3.0 percent.
The data also showed improvement. The decline in the state s unemployment rate over several months has been driven largely by a steep decline in the total Labor Force. But the Labor Force was barely down this month (-84), while total Employed increased (+242) and total unemployed decreased (+326).
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