Vermont unemployment rate declines to 2.8 percent in October

The Vermont Department of Labor announced last week that the seasonally adjusted statewide unemployment rate for October was 2.8 percent, a drop of one-tenth of one percentage point from the revised September rate.

That compares with the national rate in October of 3.7 percent.

As of the prior month’s preliminary data, the Burlington-South Burlington Metropolitan area was tied for the 36th-lowest unemployment rate in the country for all metropolitan areas.

Overall, Vermont’s unemployment rate was tied for eighth lowest in the country for the same time period, according to the state announcement.

“For the 14th consecutive month, the Vermont unemployment rate is below 3 percent. Tight labor market conditions are readily apparent to nearly all Vermont employers across the industry spectrum… employers are finding it increasingly challenging to find qualified applicants to fill job vacancies,” said Labor Commissioner Lindsay Kurrle.

Kurrle suggests that companies needing to explore on-the-job training and apprentice programs through Vermont Department of Labor Career Resource Centers.

The October unemployment rates for Vermont’s 17 labor market areas ranged from 1.5 percent in White River Junction to 2.7 percent in Derby (local labor market area unemployment rates are not seasonally-adjusted).

For comparison, the October unadjusted unemployment rate for Vermont was 1.8 percent, which reflects a decrease of one percentage point from the revised unadjusted September level and a decrease of one-half of one percentage point from a year ago, according to the state labor department.

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