Vermont’s unemployment rate falls one-tenth to 5.7 percent
The Vermont Department of Labor announced today the seasonally adjusted unemployment rate for October 2010 was 5.7 percent which is a decrease of one tenth of a percent from the previous month’s reported level of 5.8 percent. Vermont has the fifth lowest rate in the nation. New Hampshire is fourth at 5.4 percent. Vermont also added 700 jobs in one month and 1,900 jobs since October 2009.Compared to a year ago, the October unemployment rate is lower by a full percentage point. Since the start of the calendar year, the Vermont seasonally adjusted unemployment rate has followed a downward trend. In January it was 6.7 percent, followed by February and March at 6.6 percent. Then the next three months each saw declines of two tenths of percent to put the state rate at 6.0 percent in June, where it stayed for three consecutive months until the September announcement of 5.8 percent.‘While based on preliminary numbers, we are seeing positive year over year job growth for the first time since May of 2008,’ said Valerie Rickert, Acting Commissioner of the Vermont Department of Labor. ‘In addition, the state has seen two consecutive months of increased employment and decreased unemployment. The current trend is positive as is evidenced by the full percent decline in unemployment since the beginning of the year,’ Rickert continued.Analysis of Job Changes by IndustryThe preliminary ‘not seasonally adjusted’ jobs numbers for October show an increase of 3,550 jobs when compared to the revised September numbers. This reported over the month change does not include the 450 job increase between the preliminary and the revised September estimates due to the revision process and the inclusion of more sample data. As detailed in the preliminary October data, Total Private reports an increase of 1,100 jobs and Government reports an increase of 2,450 jobs. The bulk of the increase in Government jobs was from State and Local Government Education (+900 and +1,450, respectively). In the private sector, Education and Health Services led all industries with an increase of by 900 jobs. Retail Trade and Financial Activities each showed positive gains of 550 jobs. Lastly, Manufacturing continued its recent strong performance with an increase of 250 jobs.The annual rate of unadjusted job growth was positive for the first time since May of 2008 (+0.1%). This is greater than the revised September estimate by three tenths of a percent. The seasonally adjusted data for October reports an increase of 1,800 jobs from the revised September data. As with the ‘not seasonally adjusted’ data, this over the month change is from the revised September numbers which experienced a positive revision from the preliminary September estimates (+400 jobs). A review of the seasonally adjusted numbers shows Vermont’s Private Industries with a positive job gain of 1,500 jobs. The two industries which most contributed to the net job gains in Total Private Industries were Education and Health Services (+1,000) and Financial Activities (+600). Total Government also increased by 300 jobs. State of Vermont OverviewVermont’s seasonally adjusted unemployment was 5.7 percent in October. The underlying data showed increases to the labor force (+500) and total employment (+700), and a decrease to total unemployment (-300). For comparison purposes, the United States seasonally adjusted unemployment rate for September was 9.6 percent.October unemployment rates for Vermont’s 17 labor market areas ranged from 4.0 percent in Hartford to 7.8 percent in Newport. Local labor market area unemployment rates are not seasonally adjusted. For comparison, the October unadjusted unemployment rate for Vermont was 5.1 percent, which was two tenths of a percentage point lower than the revised September data and down one percent from a year ago. Nationally, regional and state unemployment rates were little changed in October. Nineteen statesand the District of Columbia recorded unemployment rate decreases, 14 states regis-tered rate increases, and 17 states had no rate change, the U.S. Bureau of LaborStatistics reported today. Twenty-nine states and the District of Columbia postedunemployment rate decreases from a year earlier, 16 states reported increases, and5 states had no change. The national jobless rate was unchanged in October at 9.6percent but was down from 10.1 percent a year earlier.In October, nonfarm payroll employment increased in 41 states and the District ofColumbia, decreased in 6 states, and was unchanged in 3 states. The largest over-the-month increases in employment occurred in Texas (+47,900), New York (+40,600),California (+38,900), Michigan (+19,000), and Arkansas (+17,400). The largest over-the-month percentage increases in employment were in Arkansas (+1.5 percent), NewMexico (+0.8 percent), and Maine and North Dakota (+0.7 percent each). The largestover-the-month employment decreases were in Delaware (-3,000), Missouri (-2,900),and Nevada and Virginia (-2,200 each). The largest over-the-month percentage de-creases in employment occurred in Delaware (-0.7 percent), Nevada (-0.2 percent),and Missouri and Virginia (-0.1 percent each). Over the year, nonfarm payrollemployment increased in 36 states and the District of Columbia and decreased in14 states. The largest over-the-year percentage increase in employment wasreported in the District of Columbia (+2.9 percent), followed by New Hampshire(+2.6 percent), Texas (+1.7 percent), and Minnesota and North Dakota (+1.6 percenteach). The largest over-the-year percentage decrease in employment occurred inNevada (-2.4 percent), followed by New Jersey (-1.0 percent), Montana (-0.9 percent),Rhode Island (-0.8 percent), and Missouri (-0.7 percent).Regional Unemployment (Seasonally Adjusted)The West reported the highest regional unemployment rate in October, 10.8 percent,while the Northeast recorded the lowest rate, 8.5 percent. No region experienced astatistically significant over-the-month unemployment rate change, but the Midwestand Northeast registered significant rate changes from a year earlier (-0.8 and -0.5percentage point, respectively). (See table 1.)Among the nine geographic divisions, the Pacific continued to report the highestjobless rate, 11.5 percent in October. The West North Central registered the lowestrate, 7.1 percent, followed by the West South Central, at 7.9 percent. The only div-ision with a statistically significant over-the-month unemployment rate change wasNew England (-0.2 percentage point). Over the year, two divisions posted measurablerate decreases: the East South Central (-1.3 percentage points) and East North Central(-0.9 point). The Mountain experienced the only statistically significant unemploymentrate increase from a year earlier (+0.6 percentage point).State Unemployment (Seasonally Adjusted)Nevada continued to register the highest unemployment rate among the states, 14.2percent in October. The states with the next highest rates were Michigan, 12.8 per-cent, and California, 12.4 percent. North Dakota reported the lowest jobless rate,3.8 percent, followed by South Dakota and Nebraska, at 4.5 and 4.7 percent, respec-tively. In total, 27 states posted jobless rates significantly lower than the U.S.figure of 9.6 percent, 5 states recorded measurably higher rates, and 18 states andthe District of Columbia had rates that were not appreciably different from that ofthe nation. (See tables A and 3.)In October, two states experienced statistically significant unemployment rate changesfrom September: Maine and Massachusetts (-0.3 percentage point each). The remaining 48states and the District of Columbia registered jobless rates that were not measurablydifferent from those of a month earlier, though some had changes that were at least aslarge numerically as the significant changes.Eleven states reported statistically significant over-the-year jobless rate decreasesin October, the largest of which were in Alabama (-1.9 percentage points) and Michigan(-1.6 points). The District of Columbia also posted a significant over-the-yearunemployment rate decrease (-1.7 percentage points). Utah recorded the only significantrate increase from October 2009 (+0.9 percentage point). The remaining 38 states regis-tered unemployment rates that were not appreciably different from those of a year earlier.(See table B.)Nonfarm Payroll Employment (Seasonally Adjusted)Between September and October, 18 states recorded statistically significant changes inemployment. The largest over-the-month statistically significant job gains occurred inTexas (+47,900), New York (+40,600), and California (+38,900). The only over-the-monthstatistically significant job loss occurred in Delaware (-3,000). (See tables C and 5.)Over the year, 12 states and the District of Columbia reported statistically signif-icant employment increases, while one state experienced a statistically significantdecline in employment. The largest statistically significant over-the-year employmentincreases were posted in Texas (+172,800), Pennsylvania (+48,800), and Minnesota(+42,000). The only statistically significant over-the-year job loss occurred in NewJersey (-37,100). (See table D.)_____________The Metropolitan Area Employment and Unemployment news release for October isscheduled to be released on Tuesday, December 7, 2010, at 10:00 a.m. (EST). TheRegional and State Employment and Unemployment news release for November is scheduledto be released on Friday, December 17, 2010, at 10:00 a.m. (EST). Table A. States with unemployment rates significantly differ-ent from that of the U.S., October 2010, seasonally adjusted————————————————————– State | Rate(p)————————————————————–United States (1) ……………….| 9.6 |Alaska …………………………| 7.9Arkansas ……………………….| 7.8California ……………………..| 12.4Colorado ……………………….| 8.4Delaware ……………………….| 8.3Florida ………………………..| 11.9Hawaii …………………………| 6.4Iowa …………………………..| 6.7Kansas …………………………| 6.7Louisiana ………………………| 8.1 |Maine ………………………….| 7.4Maryland ……………………….| 7.4Massachusetts …………………..| 8.1Michigan ……………………….| 12.8Minnesota ………………………| 7.1Montana ………………………..| 7.3Nebraska ……………………….| 4.7Nevada …………………………| 14.2New Hampshire …………………..| 5.4New Mexico ……………………..| 8.4 |New York ……………………….| 8.3North Dakota ……………………| 3.8Oklahoma ……………………….| 6.9Pennsylvania ……………………| 8.8Rhode Island ……………………| 11.4South Dakota ……………………| 4.5Texas ………………………….| 8.1Utah …………………………..| 7.6Vermont ………………………..| 5.7Virginia ……………………….| 6.8Wisconsin ………………………| 7.8Wyoming ………………………..| 6.7————————————————————– 1 Data are not preliminary. p = preliminary.Table B. States with statistically significant unemployment rate changesfrom October 2009 to October 2010, seasonally adjusted————————————————————————- | Rate | |———–|———–| Over-the-year State | October | October | rate change(p) | 2009 | 2010(p) |————————————————————————-Alabama ……………………| 10.8 | 8.9 | -1.9District of Columbia ………..| 11.4 | 9.7 | -1.7Illinois …………………..| 10.9 | 9.8 | -1.1Michigan …………………..| 14.4 | 12.8 | -1.6New Hampshire ………………| 6.8 | 5.4 | -1.4New York …………………..| 8.9 | 8.3 | -.6North Carolina ……………..| 10.9 | 9.6 | -1.3North Dakota ……………….| 4.3 | 3.8 | -.5South Carolina ……………..| 12.2 | 10.7 | -1.5Tennessee ………………….| 10.8 | 9.4 | -1.4 | | |Utah ………………………| 6.7 | 7.6 | .9Vermont ……………………| 6.7 | 5.7 | -1.0Wisconsin ………………….| 8.7 | 7.8 | -.9————————————————————————- p = preliminary.Table C. States with statistically significant employment changes fromSeptember 2010 to October 2010, seasonally adjusted————————————————————————– | September | October | Over-the-month State | 2010 | 2010(p) | change(p)————————————————————————–Arizona…………………..| 2,398,600 | 2,413,100 | 14,500Arkansas………………….| 1,155,400 | 1,172,800 | 17,400California………………..| 13,818,600 | 13,857,500 | 38,900Delaware………………….| 416,000 | 413,000 | -3,000Hawaii……………………| 588,100 | 591,700 | 3,600Iowa……………………..| 1,471,100 | 1,479,200 | 8,100Maine…………………….| 588,300 | 592,500 | 4,200Massachusetts……………..| 3,175,500 | 3,185,500 | 10,000Michigan………………….| 3,821,900 | 3,840,900 | 19,000Minnesota…………………| 2,657,500 | 2,671,600 | 14,100 | | |New Mexico………………..| 804,500 | 810,800 | 6,300New York………………….| 8,479,000 | 8,519,600 | 40,600North Dakota………………| 370,300 | 372,800 | 2,500Oregon……………………| 1,594,700 | 1,602,300 | 7,600Pennsylvania………………| 5,602,200 | 5,618,100 | 15,900Tennessee…………………| 2,609,800 | 2,618,500 | 8,700Texas…………………….| 10,353,300 | 10,401,200 | 47,900Vermont…………………..| 294,200 | 296,000 | 1,800————————————————————————– p = preliminary.Table D. States with statistically significant employment changes fromOctober 2009 to October 2010, seasonally adjusted————————————————————————– | October | October | Over-the-year State | 2009 | 2010(p) | change(p)————————————————————————–Arizona…………………..| 2,388,900 | 2,413,100 | 24,200Arkansas………………….| 1,157,700 | 1,172,800 | 15,100District of Columbia……….| 703,600 | 724,300 | 20,700Maryland………………….| 2,503,000 | 2,531,400 | 28,400Massachusetts……………..| 3,148,200 | 3,185,500 | 37,300Minnesota…………………| 2,629,600 | 2,671,600 | 42,000New Hampshire……………..| 621,300 | 637,500 | 16,200New Jersey………………..| 3,867,600 | 3,830,500 | -37,100North Dakota………………| 367,000 | 372,800 | 5,800Oklahoma………………….| 1,524,700 | 1,543,300 | 18,600 | | |Pennsylvania………………| 5,569,300 | 5,618,100 | 48,800Tennessee…………………| 2,596,300 | 2,618,500 | 22,200Texas…………………….| 10,228,400 | 10,401,200 | 172,800Virginia………………….| 3,603,800 | 3,636,800 | 33,000————————————————————————– p = preliminary.Source: US Bureau of Labor Statistics. 11.23.2010