October 2024

Released November 19, 2024

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United States Employment Snapshot

• In October, among the 50 states and the District of Columbia unemployment fell in 8, rose in 22, and remained unchanged in 21.

• The highest unemployment rate was 5.7 percent in District of Columbia and Nevada, and the lowest was 1.9 percent in South Dakota. Nationally, the unemployment rate remained unchanged in October.

• In October, payroll jobs rose in 21 states and fell in 30. The largest payroll job percent increase was 0.4 percent in Idaho. The largest payroll job percent decline was 1 percent in Washington.

Vermont Employment Snapshot

• In October, Vermont added 700 net payroll jobs and the unemployment rate rose by 0.1 percentage point to 2.3 percent. In the prior month, Vermont added 200 net payroll jobs.

• Over the past 12 months, Vermont added 7,600 net payroll jobs and the unemployment rate remained unchanged.

• Nationally, nonfarm payrolls rose by 12,000 in October, or 0 percent. Vermont is tied for 4th in the nation for percentage gain in nonfarm payroll employment over the past 12 months.

• In October, Vermont’s private sector added 400 net private payroll jobs, and over the past 12 months it added 6,000 private payroll jobs. In the prior month, Vermont lost 100 net private payroll jobs.

• In October, employment in Vermont fell by 344, and over the past 12 months it rose by 4,737.

• Vermont’s labor force participation rate fell to 65.6 percent in October from 65.7 percent and is tied for 14th in the nation. In the past 12 months, the labor force participation rate has risen by 0.6 percentage points.

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Vermont Payroll Employment

• Vermont added 700 net payroll jobs, or 0.2 percent, on a seasonally adjusted basis during October. In the prior month, Vermont added 200 jobs. Vermont nonfarm payroll employment has increased in 9 of the past 12 months.

• Nationally, nonfarm payrolls rose by 12,000 in October, or 0 percent. Vermont is tied for 4th in the nation for percentage gain in nonfarm payroll employment over the past 12 months.

• Vermont added 400 private sector jobs, or 0.2 percent. on a seasonally adjusted basis during October. In the prior month, Vermont lost 100 jobs. Vermont private sector payroll employment has increased in 9 of the past 12 months.

• Nationally, private sector payroll jobs fell by 28,000 jobs in October, or 0 percent. Vermont ranks 6th in the nation for percentage gain in private sector payroll employment over the past 12 months.

• The best performing sectors on a seasonally adjusted basis during October were Leisure and Hospitality (900) and Government (300).

• The poorest performing sectors during the month were Manufacturing (-200) and Professional and Business Services (-500).

• The best performing sectors during the last 12 months were Leisure and Hospitality (3,200) and Education and Health Services (1,700).

• The poorest performing sectors during the last 12 months were Mining and Logging (-100) and Trade, Transportation, and Utilities (-600).

Vermont Labor Force

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 labor force participation rate in Vermont fell to 65.6 percent in October from 65.7 percent in the prior month.

• Vermont is tied for 14th in the nation.

• The 10-year high for the labor force participation rate in Vermont was 67.9 percent occurring in November 2014, and the 10-year low was 61.9 percent occurring in December 2020.

• The national labor force participation rate fell by 0.1 percentage points to 62.6 percent in October.