Jobless level falls to lowest level in four years

first_imgVermont Department of Employment and TrainingVermont Unemployment Press ReleaseJune 17, 2005For Immediate ReleaseContact: Michael Griffin, 802-828-4153E-Mail: mgriffin@det.state.vt.us(link sends e-mail)Vermont Labor Force Statistics (Seasonally Adjusted) May 2005 April 2005 May 2004Total Labor Force 351,600 352,300 352,900 Employment 340,700 340,700 340,300 Unemployment 10,900 11,600 12,600 Rate (%) 3.1 3.3 3.6Montpelier — The Department of Employment and Training announced today that theseasonally adjusted unemployment rate for May was 3.1 percent, down two tenths of apercentage point from the revised April estimate. The change from last month was notstatistically significant.Unemployment rates for Vermont’s 17 labor market areas ranged from 1.7 percent inHartford to 3.9 percent in Rutland and Springfield. Labor market area rates are notseasonally adjusted; for comparison, the unadjusted rate for Vermont was 3.0 percent.”Vermont’s unemployment rate dropped once more to its lowest level in four years,” saidPatricia A. McDonald, Commissioner of the Department of Employment and Training.”May’s early season job gains in leisure and construction were particularly encouragingsigns for the labor market.”The number of seasonally adjusted jobs grew by 2,200 in May, a considerably larger gaincompared to the changes from recent months. The largest increase came from the leisureand hospitality industries, which bounced back from a loss in April. Other small gainsresulted from growth in the construction industry, professional and business services andgovernment services. Expansion may also have occurred in sectors of the economywhich are not published. Additionally, the figure for total seasonally adjusted jobs mayhave slightly overstated actual gains.Before seasonal adjustment, total nonfarm employment grew by almost 4,000 jobs. Thegains occurred in the industries that usually expand as the summer months approach.Construction showed the largest growth, adding jobs at a rate on par with prior years.Entertainment, recreation and the food service industries began their usual summer hiringwith fairly typical gains. Professional and business services also experienced increasesrelated to seasonal hiring. Within the professional and business sector, administrativesupport led the growth with employment increases primarily from traffic control andlandscaping companies. Other job gains occurred in retail, manufacturing, and healthcare. Hotels, motels and other lodging experienced employment losses with the wrap-upof the winter tourism season. State and private colleges also showed a drop in jobstypical for the end of the academic year.Total nonfarm employment increased 1.6% over the last twelve months. The annualgrowth rate was slightly stronger than it was in April.last_img

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