2014 is Off to a Heartening Start
Vermont didn’t create as many new jobs in 2013 as reported earlier, according to the U.S. Bureau of Labor Statistics (BLS). Each February, the BLS revises its data, which are based on statistical surveys. The new numbers show Vermont ended 2013 with 306,300 non-farm payroll jobs. That was nearly 3,000 fewer than originally reported and just 200 more than Vermont had at the end of 2012.
A Growing Workforce
While job growth was essentially flat last year, 2014 got off to a better start, at least as indicated by preliminary figures. According to the BLS, Vermont employers added 3,000 jobs in January, half in the private sector and half in the public sector. Meanwhile, Vermont’s unemployment rate dropped to 4 percent, down from 4.2 percent the previous month. The labor force—people working or looking for work—grew for the first time since late 2011.
Fewer Unemployed
Vermont’s unemployment has fallen in recent years in part because people have dropped out of the labor force. Nevertheless, the number of Vermonters officially unemployed—that is, jobless but actively seeking work—fell below 14,000 in January. That’s the lowest level since August 2007, a few months before the start of the Great Recession.
