January 25, 2022
Summary
Vermont lost 100 net payroll jobs and the unemployment rate fell by 0.1 percentage point to 2.5 percent in December, according to Bureau of Labor Statistics (BLS) data released at 10:00am on January 25, 2022.
Over the past twelve months, Vermont added 10,000 payroll jobs and the unemployment rate fell by 1 percentage point from 3.5 percent.
In December, Vermont’s private sector lost 200 net private payroll jobs and over the past twelve months it added 9,200 private payroll jobs in the establishment survey.
In the household survey, the number of unemployed fell by 307 on net in December, and over the past year employment rose by 4,951.
Vermont’s labor force participation rate remained steady at 61.3 percent in December . Since last year, the labor force participation rate rose by 0.4 percentage point.
The national unemployment rate fell by 0.3 percentage point in December to 3.9 percent. State employment and unemployment data for January is scheduled for release March 14, 2022. The national employment situation report for January will be released February 04, 2022.
Vermont Payroll Employment
Vermont lost 100 net payroll jobs, or 0 percent, on a seasonally adjusted basis during December. In the prior month, Vermont added 600 jobs. Over the past twelve months, Vermont added 10,000 payroll jobs, or 3.5 percent. Vermont nonfarm payroll employment had increased in 8 of the past 12 months.
Nationally, nonfarm payrolls rose by 199,000 in December, or rose by 0.1 percent. Over the 12-month period ending with December, nonfarm payrolls rose by 6,448,000 jobs, or 4.5 percent. Vermont is tied for 24th among the 50 states and the District of Columbia for percentage gain in nonfarm payroll employment over the past 12 months.
During December, Vermont’s private-sector lost 200 jobs, or approximately -0.1 percent. The private-sector in Vermont added 700 jobs in the prior month. Over the past twelve months, private-sector payrolls in Vermont added 9,200, or 3.9 percent. Vermont private-sector payroll employment has increased in 8 of the past 12 months.
Nationally, private-sector payroll jobs rose by 211,000 jobs in December, or 0.2 percent. Over the past 12 months, the national payroll rose by 5,996,000 jobs in the private sector, or 5 percent. Vermont is tied for 24th among the 50 states and the District of Columbia for a percentage gain in private-sector payroll employment over the past 12 months.
The best performing sectors on a seasonally adjusted basis during December were Trade, Transportation, and Utilities tied with Other Services; and Government (100) and Mining and Logging (100). The poorest performing sectors during the month were Manufacturing (-100) and Education and Health Services (-400).
The best performing sectors during the last twelve months were Leisure and Hospitality (5,100) and Other Services (1,700). The poorest performing sectors during the last twelve months were Construction tied with Information; and Education and Health Services (0) and Trade, Transportation, and Utilities (-500).
Vermont Labor Force Statistics
Labor Force Participation
The labor force participation rate in Vermont remained unchanged at 61.3 percent in December . At a labor force participation rate of 61.3 percent, Vermont is tied for 30th in the nation. The labor force participation rate in Vermont rose by 0.4 percentage point from a year earlier. The labor force participation rate is the percentage of the civilian noninstitutionalized population age 16 and older who are employed or actively looking for work.
The 10-year high for the labor force participation rate in Vermont was 69.7 percent in December 2011. The series high for the labor force participation rate in Vermont last occurred in April 1999 when the labor force participation rate hit 72.6 percent. The 10-year low for the labor force participation rate was 60.3 percent , last occurring in April 2021. This also represents the series low for the labor force participation rate in Vermont.
The national labor force participation rate remained steady at 61.9 percent in December. That rate rose by 0.4 percentage point from a year earlier. The all-time high for the national labor force participation rate was 67.3 percent in April 2000. The 10-year high for the national labor force participation rate was 63.8 percent in October 2012. The recent 10-year low occurred in April 2020 at a level of 60.2 percent. The series low for the national labor force participation rate was 58.1 percent in December 1954.
Employment-to-Population Ratio
The employment-to-population ratio, or the percentage of the Vermont civilian noninstitutionalized population 16 years and older counted as employed, in December remained unchanged. At 59.7 percent, Vermont is tied for 26th among state employment-to-population ratios in the nation. The employment-to-population ratio in Vermont rose by 0.9 percentage point from a year earlier.
The 10-year high for the employment-to-population ratio in Vermont was 66.2 percent in December 2011. The series high for the employment-to-population ratio in Vermont last occurred in April 1999 when the employment-to-population ratio hit 70.3 percent. The 10-year low for the employment-to-population ratio was 58.1 percent in April 2020. The series low for the employment-to-population ratio in Vermont occurred in March 1976 when the employment-to-population ratio hit 57.8 percent.
The national employment-to-population ratio rose by 0.2 percentage point over the month to 59.5 percent in December. That rate rose by 2.1 percentage points from a year earlier. The all-time high for the national employment-to-population rato was 64.7 percent in April 2000. The 10-year high for the national employment-to-population ratio was 61.2 percent in February 2020. The recent 10-year low occurred in April 2020 at a level of 51.3 percent. The series low for the employment-to-population ratio was 51.3 percent in April 2020.