Contact:
Andy Condon, 802-828-4153
Email: Andrew.Condon@state.vt.us
The
observed seasonally adjusted monthly changes in the employment levels, unemployment
levels and unemployment rate are not statistically different from February values. For comparison purposes, the US seasonally
adjusted unemployment rate for February was 5.1 percent, up three-tenths of a
point from February 2008. Unemployment
rates for
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Changes From |
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March |
February |
March |
February 2008 |
March 2007 |
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Total
Labor Force |
351,900 |
352,600 |
355,200 |
-700 |
-3,300 |
|
Employment |
335,800 |
337,500 |
340,900 |
-1,700 |
-5,100 |
|
Unemployment |
16,100 |
15,100 |
14,300 |
1,000 |
1,800 |
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Rate (%) |
4.6 |
4.3 |
4.0 |
0.3 |
0.6 |
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Seasonally adjusted job levels fell slightly as compared to February (-200
jobs or -0.2%) and grew slightly over March of 2007 (+300 jobs or +0.1%) (see graph). The largest adjusted declines were observed in
Manufacturing, (-300 / -0.8%) and Retail Trade (-300 / -0.7%). Leisure and Hospitality showed an adjusted
gain of 400 jobs or +1.2% over February, reflecting a relatively strong finish
to the winter tourism season.
Before seasonal adjustment, Total Non-Farm jobs fell by 300 or 0.1% from February to March largely due to typical seasonal influences. Annual unadjusted job growth remains essentially flat at 250 jobs or +0.1%. Seasonal job gains were seen in Construction (+200 / 1.5%), but the segment remains in decline showing a 700 job annual loss or -4.8%. Professional & Business services grew by 300 over the month and 150 or 0.7% over the year. Health Care & Social Assistance grew by 200 jobs over the month and 1,250 jobs or 2.9% annually. Retail trade shed 300 jobs in March and has lost 250 jobs or -0.6% annually. Leisure & hospitality lost a better than expected 550 jobs in March, growing 100 jobs or 0.3% annually. Local Government Education lost 250 jobs in March remaining flat over the year.
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