Among the neighbors, Vermont’s recovery is just okay
Vermont’s economy has been slowly recovering since the end of the recession. But its labor force has not. The number of Vermonters working or actively looking for work decreased more than 3 percent from 2009 to 2014—the biggest drop in New England. This year through July, Vermont’s labor force has inched up by 0.2 percent.
Job growth near the top
Five years after the official end of the recession, Vermont showed the second-best job growth in New England. Non-farm payroll jobs reported by employers rose just over 4 percent from 2009 to 2014. The pace of Vermont’s job growth has slowed since the 1990s, as it has in many states. But in 2014 Massachusetts and Vermont were the only two New England states with more payroll jobs than before the recession.
Economy at No. 3
Since the recession, economic growth in Vermont ranked third among the New England states. After adjusting for inflation, Vermont’s gross state product grew 7.4 percent from 2009, when the recession officially ended, to 2014. After job growth, the next sign of recovery should be healthier incomes. But Vermont’s median household income declined in 2012 and 2013. Income data for 2014 will be released next month.
