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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 read more

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Pupuk Indonesia to issue $169m worth of bonds

first_imgThe bonds will be issued in three series: the A series bonds have a tenure of three years with a coupon rate of 6.25 percent to 7.50 percent, the B series have a tenor of five years and a rate between 7 percent and 8.30 percent, while the C series will mature in seven years with a rate of 7.50 percent to 8.75 percent. The coupon payments will be made quarterly. Read also: House approves $10.32b stimulus for state companiesRating agency Fitch Ratings Indonesia has assigned a national long-term rating of AAA (idn) for Pupuk Indonesia’s Rp 8 trillion bond program, as well as its first issuance under the program, as stated in a rating action commentary published on July 15. The triple-A rating is the highest rating assigned by the agency, which indicates the lowest expectation of default risks relative to other obligations in the country. Indonesian rating agency Pemeringkat Efek Indonesia (Pefindo), on the other hand, has assigned the company a rating of idAAA, Pefindo’s highest rating, and said in a press release published on March 26 that the outlook for the company’s corporate rating was stable. “The corporate rating reflects the strong support Pupuk Indonesia has received from the government, given its important role in providing and distributing subsidized fertilizer in the country,” analysts Niken Indriarsih and Umar Harreddy said in the press release. Pupuk Indonesia finance director Indarto Pamoengkas said during the press conference that the pandemic had adversely affected the company’s sales but it was still able to record growth during the health crisis.“As of May, we saw a 10 percent annual increase in revenue,” Indarto said. Read also: Indonesia raises record high $1.27b from retail bonds saleAccording to Pupuk Indonesia’s statement published following the press conference, the company’s net profit grew 11.7 percent year-on-year (yoy) to Rp 1.6 trillion from Rp 1.43 trillion during the January-May period. Its revenue from the sales of commercial fertilizer rose by 38.35 percent to Rp 7.54 trillion as the volume of the commercial fertilizer sold soared by 47.45 percent to 2.01 million tons. Meanwhile, the company reported that the sale of its subsidized fertilizer or public service obligation (PSO) product from January to May amounted to 3.93 million tons. In 2019, the company booked a net profit of Rp 3.71 trillion, down by 11.9 percent from 2018’s net profit of Rp 4.12 trillion. Its total sales and other revenue, including from products sold and subsidy reimbursements from the government, amounted to Rp 71.31 trillion, up 2.68 percent yoy. Topics :center_img State-owned fertilizer holding firm PT Pupuk Indonesia will be offering bonds worth Rp 2.5 trillion (US$169 million) as part of a funding diversification strategy, a company executive has said. The bond offering is the first phase of the shelf registration of conventional bonds (PUB) II for 2020 with a total value of Rp 8 trillion and is scheduled for Aug. 14 to 18. “We are planning to use the proceeds to refinance our loans, either for the holding company or its subsidiaries. This is part of the company’s strategy to diversify external funding, aside from banks,” Pupuk Indonesia president director Aas Asikin Idat said during a virtual press conference on Monday. last_img read more

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