Unemployment ratge edges up to 4.9 percent, job growth down

first_img       Changes From August              2008July2008August              2007July   2008August2007 TotalNumberNumberAug-08Jul-08Aug-07AreaLabor ForceEmployedUnemployedRate (%)Rate (%)Rate (%)Barre-Montpelier28,55027,3001,2504.45.03.2Bennington12,70012,1006004.95.03.6Bradford4,7004,5002004.34.53.5Brattleboro23,60022,5001,0504.54.93.5Burlington-South Burlington113,450109,1004,3503.94.13.0Hartford19,95019,4505002.62.92.0Manchester12,30011,8005004.24.53.1Middlebury18,20017,4507504.24.43.3Morristown-Stowe20,25019,4008504.24.43.1Newport13,45012,7007505.76.04.1Randolph8,8008,4004004.65.13.3Rutland28,45026,9001,5505.45.73.9Springfield11,85011,3005504.85.03.6St. Johnsbury14,70014,0506504.54.63.6Swanton-Enosburg14,30013,6507004.75.23.8Warren-Waitsfield3,7003,6001003.03.42.5Woodstock3,7003,6001002.83.12.2Vermont Total355,050339,95015,1004.34.53.2 Total Labor Force351,200352,700352,800-1,500-1,600   Employment333,800335,800339,300-2,000-5,500   Unemployment17,30016,90013,5004003,800   Rate (%) 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 UNEMPLOYMENT EDGES UP SLIGHTLY TO 4.9% IN AUGUST, JOB GROWTH SLIPS DOWN -0.2%.Montpelier (September 19, 2008) — The Vermont Department of Labor announced today that the seasonally adjusted unemployment rate for August 2008 was 4.9 percent, up one-tenth of a point from the revised July rate of 4.8% and up 1.1 points from a year ago.”National economic conditions continue to have their impact on Vermont’s labor market, though not quite to the same degree,” said Patricia Moulton Powden, Commissioner of the Vermont Department of Labor. “Vermont’s one-tenth of a point increase in unemployment was much smaller than the nation’s four-tenths increase in August. Job losses have been smaller on a percentage basis as well, though any job losses remain a concern.”Vermont’s observed seasonally adjusted monthly changes in employment, unemployment and unemployment rate are not statistically different from July values. For comparison purposes, the US seasonally adjusted unemployment rate for August was 6.1 percent, up four-tenths of a point from July 2008. Unemployment rates for Vermont’s 17 labor market areas ranged from 2.6% percent in Hartford to 5.7% percent in Newport. Local labor market area unemployment rates are not seasonally adjusted. For comparison, the unadjusted unemployment rate for Vermont was 4.3 percent, down two-tenths of a point from July 2008 and up 1.1 points from a year ago.Jobs Data (Vermont’s job count estimates are produced from a statewide survey of business establishments conducted under the Current Employment Survey (CES) – a cooperative effort with the US Department of Labor, Bureau of Labor Statistics.)Seasonally adjusted job levels fell by 800 or -0.3% over July, and by -1,000 or -0.3% over the year. Job losses were spread over many sectors including Manufacturing, Construction, Trade, Transportation & Utilities, Education & Health services, Financial Activities, Other services and Government. A notable exception was Leisure and Hospitality which added 200 seasonally adjusted jobs in August.Before adjustment, Total Non-Farm jobs were essentially flat, -50 jobs from July to August, but down 600 jobs or -0.2% annually. Only Leisure and Hospitality showed any significant seasonal job gains from July to August (+700 / 2.0%), but the segment remains essentially flat over the year. The Health Care & Social Assistance sector continues to show good annual job gains (950/2.5%). Manufacturing is down over the year (-850 / -2.4%) as is the Construction sector, (-750 / -4.0%). Declines in construction may have been aggravated by poor weather in the measurement period. Michael Griffin ghallock 2006-03-08T18:42:20Z 2004-09-24T14:43:24Z 2008-09-18T12:03:59Z DET 11.8107 Sheet1 600 600 3 5 False False False Column A 26512 lmaur_26512 SourcePrintArea HtmlStatic 23072 lmaur_23072 SourceRange $A$2:$G$32 HtmlStatic 2220 11970 -15 4365 False False HTML_CodePage =1252 HTML_Control ={“‘Sheet1’!$A$362:$G$394″} HTML_Description =”” HTML_Email =”” HTML_Header =”” HTML_LastUpdate =”1/23/06″ HTML_LineAfter =FALSE HTML_LineBefore =FALSE HTML_Name =”” HTML_OBDlg2 =TRUE HTML_OBDlg4 =TRUE HTML_OS =0 HTML_PathFile =”D:\SHARE\lss\LMAUR.HTM” HTML_Title =”” Print_Area 1 =Sheet1!#REF!VERMONT LABOR FORCE AND UNEMPLOYMENTLABOR MARKET AREAS BY RESIDENCE (Not Seasonally Adjusted)August 2008 Estimates Vermont Labor Force Statistics (Seasonally Adjusted)last_img

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