Vermont Unemployment Rate Holds Steady In May
Vermont’s unemployment rate held steady at 3.3 percent in May, according to a new report from the Department of Labor, still 3 percent below the national unemployment average.
“By not declining, May 2014 data ends a streak of seven consecutive months of reported decreases to the statewide unemployment rate in Vermont,” the labor department report said.
Commissioner Annie Noonan noted in the report that the unchanged rate comes despite staff reductions at “several companies.” Those cuts, she said, were balanced by increased hiring at bigger companies.
“The flip side has been increased hiring by some of Vermont’s larger employers such as [Keurig Green Mountain], Dealer.com and Cabot Cheese,” Noonan said in a press release.
Seasonally adjusted numbers show an increase of 700 jobs from April to May, mainly in the construction sector, which added 500.
Overall, the state labor force grew by 100 from April to May, to a total of 351,250. That number is 550 below last May’s labor force total, which was accompanied by a 4.3 percent unemployment rate.