State unemployment rate falls in December (and for the year)

MONTPELIER – Vermont’s unemployment rate for 2014 was one-half of 1 percent lower than it was for 2013, according to statistics released Tuesday by the Department of Labor.

December saw a small decline in the seasonally adjusted unemployment rate, falling to 4.2 percent, compared with the revised unemployment rate of 4.4 percent for November.

Overall, the nation’s seasonally adjusted unemployment rate fell at the same rate as Vermont, falling from 5.8 percent in November to 5.6 percent in December.

With December’s numbers now on the books, the state’s seasonally adjusted unemployment rate for 2014 was 3.9 percent, down from 4.4 percent for 2013.
For the months of November and December, Vermont had the 10th-lowest unemployment rate in the nation.

When looking at the state’s regional labor markets, the unemployment rate ranged from 2.5 percent in Hartford to 5.7 percent in Newport.

“The unemployment rate on an annualized basis continues to improve,” said Annie Noonan, commissioner of the Department of Labor. “We recognize, however, that the recent economic gains have not reached all Vermonters or economic sectors. Certain industries, most notably construction, have yet to recover. Regions outside the northwestern part of the state have not mirrored the robust growth seen in and around the Burlington area.”

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