The recovery is spreading throughout Vermont
Coming out of the recession, all the new jobs were in Chittenden County. But for the last three years, job growth has strengthened in the rest of the state. In 2013 and 2014, more than half of the new jobs were created outside Chittenden. Meanwhile, Vermont’s employment changed little in May.
Higher pay in all counties
Annual wages rose 2.2 percent for the average Vermont non-farm payroll worker in 2014. Wages statewide grew faster than inflation—which was 1.6 percent last year—and were up in all counties. Chittenden County, where about a third of all non-farm payroll jobs are located, saw the smallest wage growth last year: 1.4 percent. In Caledonia and Washington Counties wages grew 3.6 percent and 3.7 percent, respectively.
Better odds for Northeast job-seekers
During the worst of the recession, for every new job in the Northeast there were more than four people looking for work. Today, unemployment is down and more employers are hiring; in 2015 the ratio of unemployed workers to new job openings is just under 2 to 1. Less competition for jobs should help push up wages. While there are no Vermont-specific data on job openings, average wages are rising here.
