Vermont’s unemployment rate drops to 6.5 percent

first_imgChange to        Mar. 2010 from   Total Labor Force362,300361,400361,3009001,000  Employment338,600337,400336,0001,2002,600  Unemployment23,70023,90025,400-200-1,700  Rate6.5%6.6%7.0%-0.1-0.5 Vermont Labor Force StatisticsSeasonally Adjusted Mar.  2010 Feb.  2010 Mar.  2009 Feb. 2010Mar. 2009 (Vermont Business Magazine) The Vermont Department of Labor announced today that the seasonally adjusted unemployment rate for March 2010 was 6.5 percent, down one tenth from the revised February rate and down five tenths from a year ago. The unemployment rate continues to decline and the trends are pointing to overall employment growth. said Patricia Moulton Powden, Commissioner of the Vermont Department of Labor. As is often the case during periods of recovery, there is volatility in the month to month numbers. We are seeing that this month in the two major labor market surveys we use to measure unemployment and job growth.  This all points to the need to look at trends over several months  versus a single month.Seasonal Job GrowthMarch is a variable month for job movements. Weather can impact Leisure and Hospitality.  School vacations can occur at different times relative to our survey time-frame. For most of the decade we have seen small seasonal declines typically in the -200 to -500 range.  Last March, in the depth of the recession, we shed over 3,600 jobs.  This year we saw a decline of -2,650 or -0.9% from February to March a larger than expected decline given recent trends.   The annual rate of unadjusted job growth is also now at -0.9% – considerably better than earlier in the year. The major contributor to seasonal job losses was Leisure & Hospitality, (-1,500 jobs or -4.0%). Retail Trade also shed jobs, (-600 or -1.7%).  Educational & Health Services dropped more than expected, (-450 or -0.7%).  On the plus side, Government sector jobs climbed by 300 or 0.5%, mostly as a result of temporary Census workers.When seasonally adjusted, March payroll jobs declined by 1,900 jobs or -0.6% over February. The declines were widespread with losses in Retail Trade, (-600 or -1.6%) Education & Health Services, (-600 or 1.0%) Leisure & Hospitality, (-600 or -1.7%).  Only the Government sector showed significant gains, (300 or 0.6%) again due to an influx of temporary Census workers.Employment GrowthVermont s March seasonally adjusted unemployment rate fell by one tenth of a point to 6.5% as a result of an increase of an estimated 1,200 employed and an essentially unchanged level of unemployed.  For comparison purposes, the US seasonally adjusted unemployment rate for March was 9.7 percent, unchanged from February. March unemployment rates for Vermont s 17 labor market areas ranged from 5.2 percent in Hartford to 11.3 percent in Newport.  Local labor market area unemployment rates are not seasonally adjusted. For comparison, the March unadjusted unemployment rate for Vermont was 7.2 percent, up one-tenth of a point from February down seven tenths of a point from a year ago.  The observed levels of employment, unemployment and the unemployment rate were not statistically different from the February values.Annual Benchmark RevisionEach year in January we perform a benchmark revision of the CES (Current Employment Statistics) job counts and the LAUS (Local Areal Unemployment Statistics) employment and unemployment estimates.  In the case of CES, we replace survey data with actual job counts from our Quarterly Census of Employment and Wages (QCEW) through the third quarter of 2009 and then we reestimate fourth quarter 2009 jobs using this new information.  Since CES job counts are part of the LAUS unemployment model, we also revise the household unemployment series for the year. This year our CES and LAUS revisions were much larger than normal, partly because of the rapidly changing economy and partly due to methodology changes imposed by the Bureau of Labor Statistics that had the impact of overestimating job loss in the fourth quarter of 2008 and the first quarter of 2009.   This, in turn, had the impact of overestimating our unemployment rate for the first two quarters of 2009.As we move forward we can expect small sample states like Vermont to exhibit a higher degree of variability in month to month job estimates in the CES program.  As a result of this change in methodology, caution should be used in interpreting a single month s results.  CES payroll job numbers are now best understood in the context of their movement over several months as opposed to observed changes in a single month estimate.Starting in January 2010 the LAUS program unemployment estimates have included a new statistical smoothing component that should reduce unexplainable short term large increases and decreases in the state s unemployment rate. Source: State of Vermont. 4.16.2010last_img read more

Packed diary for fun-seeking seniors

first_imgA new Lifestyle and Recreation Precinct has opened at Halcyon Lakeside.More from newsParks and wildlife the new lust-haves post coronavirus21 hours agoNoosa’s best beachfront penthouse is about to hit the market21 hours agoHalcyon Lakeside community manager Donna Osborne said the Rec Club’s packed timetable of activities, diverse interest groups and regular social events offered something for everyone. “A great deal of thought and planning went into the new Recreation Club to ensure it has something for all homeowners,” Mrs Osborne said. “From aqua aerobics, Zumba and Pickleball to home brewing, snooker challenges and Happy Hour at the Sunset Bar, the Recreation Club is a five-star hub of fun, friendship, fitness and relaxation. It’s become the heart of the community. “Our homeowners are getting active and involved, and living each day to the full. All they have to do is show up, the rest has already been done for them.”Residents Alan and Liz Hallgath have even created a special Halcyon diary to keep track of their activities. A new Lifestyle and Recreation Precinct has opened at Halcyon Lakeside.There is also an arts precinct that caters for creative types keen to indulge in pottery, messy art projects, wood working and metal work. Halcyon Lakeside residents Alan and Liz Hallgath“We have never been so busy and we can’t fit everything in,” Mrs Hallgath said.“We have to be careful not to double-book ourselves.“I’m doing circuit class, water aerobics and jewellery making on a Monday, craft on Tuesday, circuit class again on Wednesday and art on Thursday, it’s full-on every day.“And there are new groups forming all the time.”Mr Hallgath spends his days with the garden club, distilling group, aqua aerobics, men’s movie nights and tennis, which his wife also plays.“I’m so busy that it’s hard to get ‘me’ time,” he laughed. “I like the mix of what we do and there are things that I haven’t done yet that I’d like to try.”Evenings are busy too, with the couple boasting an active social life.Bli Bli Halcyon Lakeside is framed by 450 metres of lake frontage and natural bushland. New homes within the masterplanned community are now selling from $579,000.center_img Halcyon Lakeside residents Alan and Liz HallgathWITH a focus on being “fun, accessible and stress-free”, there is little chance for Halcyon Lakeside residents to slow down.The Over 50s developer recently completed its $4 million clubhouse, which includes an impressive raised tennis court, a health and wellness centre with fully-equipped gym and circuit room, a mineral salt resort pool and a sunset bar. last_img read more