Public Assets Institute > Policy Areas > Family Economic Security > It’s looking like springtime for Vermont’s workers

It’s looking like springtime for Vermont’s workers

Four states, including California and Maine, saw their lowest unemployment rates on record last month. Vermont’s rate dropped to 2.8 percent—not quite a record, but close; in February and March 2000 Vermont’s rate hit 2.6 percent. California’s new record low was 4.3 percent; Maine’s fell to 2.9 percent. U.S. Bureau of Labor Statistics unemployment data go back to 1976.





Two out of three
Nearly two out of three—65 percent—of Vermonters 16 and older were employed last year. That placed the state’s employment-to-working-age-population ratio second in New England and 10th among all the states. The national ratio was 60.1 percent in 2017. Still, the ratio of people working to all working-age Vermonters has been trending down for 20 years.



Fuller pockets
Over the last five years Vermont enjoyed the second-best growth in per-capita personal income in New England, after only Massachusetts, according to the latest U.S. Bureau of Economic Analysis data. Nationally Vermont ranked 19th. The state’s total personal income rose to $32 billion in 2017, up from $28 billion in 2012—a 13.7 percent increase per capita, accounting for population changes. This does not mean the gains were evenly distributed, however.

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