Vermont unemployment rate at 7.3 percent, job growth flat

first_imgTotalNumberNumberMay-09Apr-09May-08AreaLabor ForceEmployedUnemployedRate (%)Rate (%)Rate (%) VERMONT LABOR FORCE AND UNEMPLOYMENTLABOR MARKET AREAS BY RESIDENCE (Not Seasonally Adjusted)May 2009 Estimates Private Industries241.3241.5254.8-0.2-13.5-0.1-5.3Construction13.513.215.70.3-2.22.3-14.0Manufacturing30.931.135.1-0.2-4.2-0.6-12.0Durable Goods21.721.825.5-0.1-3.8-0.5-14.9Non-Durable Goods9.29.39.6-0.1-0.4-1.1-4.2Trade, Transportation & Utilities56.956.559.40.4-2.50.7-4.2Retail Trade38.238.040.30.2-2.10.5-5.2Trans., Warehousing & Utilities8.68.58.80.1-0.21.2-2.3Financial Activities12.612.612.90.0-0.30.0-2.3Professional & Business Services21.120.823.20.3-2.11.4-9.1Professional., Scientific & Technical12.812.713.60.1-0.80.8-5.9Administrative Support & Waste8.17.79.30.4-1.25.2-12.9Education & Health Services60.160.258.8-0.11.3-0.22.2Private Ed. Services13.513.613.2-0.10.3-0.72.3Health Care & Social Assistance46.646.645.60.01.00.02.2Leisure & Hospitality30.831.232.9-0.4-2.1-1.3-6.4Arts, Entertainment & Recreation3.73.93.8-0.2-0.1-5.1-2.6Accommodation & Food Services27.127.329.1-0.2-2.0-0.7-6.9Other Services9.59.59.90.0-0.40.0-4.0Total Government54.253.954.00.30.20.60.4State Government17.517.618.2-0.1-0.7-0.6-3.8Local Government30.030.029.60.00.40.01.4 May -09Apr-09May-08Apr-09May-08Apr-09May-08Total – All Industries295.5295.4308.80.1-13.30.0-4.3 Changes From May 2009April2009May 2008April 2009May2008 Total Labor Force361,000361,000355,00006,000Employment334,500334,700339,000-200-4,500Unemployment26,50026,30016,00020010,500Rate (%)7.37.34.50.02.8Vermont s labor force, employment and unemployment statistics are produced from a combination of a Statewide survey of households and statistical modeling. The data are produced by the Local Area Unemployment Statistics Program (LAUS) a cooperative program with the US Department of Labor, Bureau of Labor Statistics and the Vermont Department of Labor.Vermont Seasonally Adjusted Nonfarm Employment in ThousandsBY NAICSPrelim.RevisedRevisedChange From:% Change From: PRELIMREVISEDREVISEDCHANGES FROM% CHANGES FROMINDUSTRY BY NAICSMay-09Apr-09May-08Apr-09May-08Apr-09MAy-08TOTAL NONFARM295,650291,950308,4503,700-12,8001.3%-4.1%TOTAL PRIVATE239,250235,650252,2003,600-12,9501.5%-5.1%GOODS PRODUCING45,75043,95052,2001,800-6,4504.1%-12.4%MANUFACTURING30,85030,80035,10050-4,2500.2%-12.1%Durable Goods21,80021,75025,65050-3,8500.2%-15.0%Computer & Electrical Equipment Mfg.8,5008,5009,2500-7500.0%-8.1%Fabricated Metal Products Mfg.2,5002,5002,5500-500.0%-2.0%Non-Durable Goods9,0509,0509,4500-4000.0%-4.2%Food Mfg.3,8003,7503,90050-1001.3%-2.6%CONSTRUCTION14,05012,35016,2001,700-2,15013.8%-13.3%MINING & LOGGING85080090050-506.3%-5.6%SERVICE-PROVIDING249,900248,000256,2501,900-6,3500.8%-2.5%TRADE, TRANSPORTATION AND UTILITIES56,50055,45059,0501,050-2,5501.9%-4.3%Wholesale Trade9,9509,85010,300100-3501.0%-3.4%Retail Trade37,90037,15039,950750-2,0502.0%-5.1%Food & Beverage Stores10,0009,85010,100150-1001.5%-1.0%General Merchandise Store2,7002,7002,8000-1000.0%-3.6%Transportation, Warehousing and Utilities8,6508,4508,800200-1502.4%-1.7%Utilities1,7501,7501,750000.0%0.0%Transportation & Warehousing6,9006,7007,050200-1503.0%-2.1%INFORMATION5,5005,5005,7500-2500.0%-4.3%FINANCIAL ACTIVITIES12,65012,55012,950100-3000.8%-2.3%Finance & Insurance9,4009,3509,65050-2500.5%-2.6%Real Estate, Rental & Leasing3,2503,2003,30050-501.6%-1.5%PROFESSIONAL AND BUSINESS SERVICES21,25020,45023,400800-2,1503.9%-9.2%Professional, Scientific and Technical12,70012,70013,4500-7500.0%-5.6%Administrative, Support and Waste8,2507,4509,600800-1,35010.7%-14.1%EDUCATIONAL AND HEALTH SERVICES60,15060,20059,100-501,050-0.1%1.8%Educational Services13,55013,85013,400-300150-2.2%1.1%College, Universities and Professional7,1507,3507,150-2000-2.7%0.0%Health Care and Social Assistance46,60046,35045,7002509000.5%2.0%Ambulatory Health Care Services16,15016,20015,950-50200-0.3%1.3%Hospitals12,70012,65012,050506500.4%5.4%Nursing and Residential Care Facilities6,9506,9506,85001000.0%1.5%LEISURE AND HOSPITALITY28,00028,15029,900-150-1,900-0.5%-6.4%Arts, Entertainment and Recreation3,8003,2503,900550-10016.9%-2.6%Accommodation and Food Services24,20024,90026,000-700-1,800-2.8%-6.9%Accommodations7,7508,9008,100-1,150-350-12.9%-4.3%Hotels & Motels6,9008,2007,200-1,300-300-15.9%-4.2%Food Services and Drinking Places16,45016,00017,900450-1,4502.8%-8.1%OTHER SERVICES9,4509,4009,85050-4000.5%-4.1%GOVERNMENT56,40056,30056,2501001500.2%0.3%Federal Government6,5006,2506,2002503004.0%4.8%State Government Education8,1508,8508,350-700-200-7.9%-2.4%Local Government Education25,20024,85024,9003503001.4%1.2%Other State Government9,3509,2509,750100-4001.1%-4.1%Other Local Government7,2007,1007,0501001501.4%2.1%NOTE: DATA COMPLIED IN COOPERATION WITH THE U.S. BUREAU OF LABOR STATISTICS ESTIMATES ARE PRELIMINARY AND SUBJECT TO REVISION. SEE ANNUAL SUMMARY FOR DETAILSBeginning with the January 09 estimates CES has implemented a change to the Super Sector previously titled Natural Resources & Mining to Mining & Logging . It s merely a change of title to better reflect the true makeup of the Super Sector in CES.center_img Statewide Total – All Industries estimate is seasonally adjusted independently.Note: Beginning January 2009 Vermont will publish a seasonally adjusted Total-All Industries estimate for the Burlington – S. Burlington MSA.Produced by the Vermont Department of Labor in cooperation with the U.S Bureau of Labor StatisticsVERMONT(not seasonally adjusted) Barre-Montpelier29,40027,4501,9506.67.64.3Bennington13,55012,4501,1008.29.33.9Bradford5,0004,6503507.28.94.5Brattleboro23,80022,1001,7007.27.64.8Burlington-South Burlington114,300107,3506,9506.16.53.7Hartford20,05019,2508004.04.92.6Manchester12,10011,0501,0008.59.64.7Middlebury18,50017,2501,2506.77.83.8Morristown-Stowe20,65019,0501,6007.79.14.8Newport14,35013,0501,3009.211.16.1Randolph8,8508,1507508.49.05.5Rutland25,80023,1502,70010.49.96.0Springfield12,25011,2501,0008.38.94.5St. Johnsbury15,30014,1501,2007.79.84.5Swanton-Enosburg14,30013,2001,1007.59.04.5Warren-Waitsfield3,7503,5002506.96.33.2Woodstock3,7003,4502005.86.53.1Vermont Total357,950332,50025,4007.17.94.3 Note: Rate is unemployed divided by total labor force, expressed as a percent.Source: Vermont Department of Labor in cooperation with the U.S. Bureau of Labor Statistics Burlington-S. Burlington MSA The Vermont Department of Labor announced today that the seasonally adjusted unemployment rate for May 2009 was 7.3 percent, unchanged from the revised April rate and up 2.8 points from a year ago. While the job market remained stable and the unemployment rate was unchanged, monthly job growth remained sluggish. Unemployment rates for Vermont s 17 labor market areas ranged from 4.0 percent in Hartford to 10.4 percent in Rutland. Local labor market area unemployment rates are not seasonally adjusted. For comparison, the May unadjusted unemployment rate for Vermont was 7.1 percent, down eight-tenths of a point from April 2009 and up 2.8 points from a year ago. The May unadjusted unemployment rate for Vermont was statistically different form the April rate. Job and employment levels remained stable in May, said Patricia Moulton Powden, Commissioner of the Vermont Department of Labor. This is the second month in a row where job and employment losses have plateaued from the steep declines of 4th Quarter 2008 and early 2009. While we do not see any significant signs of job growth yet, the Vermont labor market is doing better than the US as a whole.Job GrowthIn May, we typically see seasonal job counts begin to rise after their 1st Quarter lows. Before seasonal adjustment, Total Non-Farm (TNF) jobs grew by 3,700 over the month, but remain down by 12,800 or -4.1% on an annual basis. This rate of annual loss is slower than what we saw in the revised April numbers (-5.3%). Construction, (+1,700 jobs or +13.8%) led the over the month growth. Retail Trade (+750 or +2.0%), Administrative Support & Waste, (+800 or 10.7%) also grew unadjusted jobs over the month. However, only Healthcare (+900 or 2.0%), Government, (+150 or +0.3%) and Education, (+150 or 1.1%) showed any annual improvement.When seasonally adjusted, May job levels were essentially flat, (+100 jobs) from April, but still remain down by 13,300 or -4.3% from May of 2008. The Construction sector grew by 300 seasonally adjusted jobs or 2.3% over the month. Administrative Support and Waste grew by 400 jobs or 5.2% driven by landscaping and temporary services. The Retail Trade sector grew by 200 seasonally adjusted jobs or 0.5% over April. Leisure and Hospitality and Manufacturing were the largest job losers, shedding 400 and 300 jobs respectively.Employment GrowthVermont s seasonally adjusted unemployment rate was unchanged in May at 7.3 percent as a result of almost no change in either the number of employed, (334,500) or unemployed, (26,500) Vermonters. Vermont s observed May seasonally adjusted employment, unemployment levels and unemployment rate were not statistically significant from April. For comparison purposes, the US seasonally adjusted unemployment rate for May was 9.4 percent, up five-tenths of a point from the revised April rate of 8.9 percent.The preliminary estimates of nonfarm jobs for May, and the revisions to the estimates for November 2008 through April 2009, incorporate substantive changes made in the Current Employment Survey estimation procedures. These new procedures are designed to bring the aggregate monthly change in jobs for individual states into closer alignment with the change in national job counts reflected in the estimates produced and published by the Bureau of Labor Statistics. As a result of these changes, the November 2008 and forward estimates may not be totally comparable to previous months’ data. The impact of these changes in methodology will be better understood when we are able to make comparisons to Quarterly Census of Employment and Wages. We expect to make these comparisons beginning in May of 2009. For details of these changes, please contact Andy Condon at the Vermont Department of Labor at 802-828-4153 or andrew.condon@state.vt.us(link sends e-mail).Vermont Labor Force Statistics (Seasonally Adjusted) Total – All Industries109.4109.2114.40.2-5.00.2-4.4last_img read more