Vermont unemployment rate declined three-tenths to 3.7 percent in February

first_imgAgain driven by a steep drop in the number of unemployed, along with a gain in employment, the Vermont jobless rate fell again and remains the lowest rate east of the Mississippi. The Vermont Department of Labor announced today that the seasonally-adjusted statewide unemployment rate for February 2014 was 3.7 percent. This represents a decrease of three-tenths of a percent from the January rate of 4.0 percent. The comparative national average was 6.7 percent, which was up one-tenth of a percent from January. February 2014 data represents the fifth consecutive reported monthly decrease to the statewide unemployment rate in Vermont. Vermont’s unemployment rate was the fourth lowest in the country.    “It is good news that the statewide unemployment rate has reached pre-2007-recession levels, and Vermont’s job totals are nearly back to where they were before the recession. Yet, we recognize that shifts in the economy and corporate changes have led to displacement of some Vermont workers. The Department encourages Vermonters to visit one of our regional offices to tap into services and programs for job counseling and placement assistance,” said Labor Commissioner Annie Noonan.Governor Peter Shumlin issued the following statement on Vermont’s unemployment rate: “I am pleased that Vermont’s unemployment rate has dropped to 3.7 percent, the lowest it’s been since June 2006 and now the 4th lowest unemployment rate in the nation. While monthly rates fluctuate, Vermont clearly is on the right track with jobs and economic growth. We have seen jobs gains across industries, including professional and business services, education and health services, our local food economy, and manufacturing. I am proud that Vermont has added almost 11,000 new jobs since I took office. Like all states, Vermont has seen some businesses downsize or close over the years, and I know today’s good numbers are not a comfort to employees who have faced those layoffs. But this low unemployment rate tracks with what I’m hearing from employers across the state, that good jobs are available and businesses are looking to hire trained and skilled workers. As we continue to outpace other states, Vermont has a lot to be proud of, but we have more work to do.”last_img read more