MONTPELIER — The Vermont Department of Labor has released data on the state’s economy for the time period covering November 2022. According to household data, the seasonally-adjusted statewide unemployment rate for November was 2.5 percent. This reflects an increase of two-tenths of one percentage point from the prior month’s revised estimate. The civilian labor force participation rate was 61.7 percent in November, unchanged from the prior month.
“While November’s data shows an increase in Vermont’s unemployment rate from 2.3 percent to 2.5 percent, this rate is still incredibly low for Vermont. Additionally, the number of available jobs remains high, with approximately three open jobs for every job seeker. If you are a recently displaced worker or an employer preparing to downsize, the Department of Labor is able to assist with obtaining benefits, identifying new employment, or assisting with a career change and training. There are amazing job opportunities available all across our state at some really amazing employers. Go to www.VermontJobLink.com to view more than 11,500 jobs, and if you are interested in learning more about working with the Department, as an individual or as an employer, visit us online at www.Labor.Vermont.gov/Jobs for information on events and services,” said Michael Harrington, Commissioner.
The comparable United States rate in November was 3.7 percent, no change from the revised October estimate. The seasonally-adjusted Vermont data for November show the Vermont civilian labor force increased by 338 from the prior month’s revised estimate. The number of employed persons decreased by 209, and the number of unemployed persons increased by 547. The changes to the number of unemployed persons and the unemployment rate were statistically significant in the seasonally-adjusted series.
The November unemployment rates for Vermont’s 17 labor market areas ranged from 1.9 percent in White River Junction to 3.9 percent in Derby (note: local labor market area unemployment rates are not seasonally-adjusted). For comparison, the November unadjusted unemployment rate for Vermont was 2.4 percent, an increase of six-tenths of one percentage point from the revised unadjusted October level and a decrease of one-tenth of one percentage point from a year ago.
The seasonally-adjusted data for November reported a decrease of 500 jobs from the revised October data. There was an increase of 800 jobs between the preliminary and the revised October estimates due to the inclusion of more data. The seasonally-adjusted over-the-month changes in November varied at the industry level. Those with a notable increase included: Arts, Entertainment, and Recreation (+200 jobs or +4.3 percent), Administrative & Waste Services (+400 jobs or +3.2 percent), and Construction (+300 jobs or +2 percent). Industries with a notable decrease included: Health Care & Social Assistance (-1,000 jobs or -2.0 percent) and Professional & Technical Services (-200 jobs or -1.2 percent).