Vermont's unemployment rate in
September posted its largest increase in more than a decade, rising
by 0.4 percentage point to 4.3 percent on the back of 3,000 IBM
workers' taking a forced one-week furlough during the month.
The September rate, the highest since December 2001,
compares to a revised 3.9 percent for August and 3.7 percent a year
ago. The comparable U.S. rate for September is 6.1 percent.
Vermont last saw a bigger monthly increase in its
unemployment rate in December 1991, when the jobless rate rose by
0.5 percentage point.
Anne Ginevan, employment and training
commissioner, said the rise in the Vermont unemployment rate is
temporary, and she saw no dramatic change to the state's labor
market from August.
"The latest survey of employers reflects
a significant layoff in manufacturing," Ginevan said. "However, the
one-week furlough of workers was temporary and labor market
conditions should rebound."
IBM in August cut 514 jobs at
its Essex Junction plant, in addition to the one week off without
pay for 3,000 workers. Although most of those cut left their jobs in
August, they are paid through today, and generally are not included
in the September data.
Mike Griffin, chief analyst for
Employment and Training, warned against reading too much into the
monthly change in unemployment rates, because adjustments made after
the end of the year when more complete data are available and tend
to smooth out changes from month to month.
Around the state,
Hartford reported the lowest unemployment rate at 1.7 percent, while
Newport had the highest at 6.1 percent. The unemployment rate for
Burlington was 3.7 percent.
The state's regional
unemployment rates are not adjusted for seasonal job cycles. The
comparable statewide unadjusted rate for September was 3.7 percent.
Vermont jobless Vermont regular unemployment claims
totaled 5,284 for the week ended Saturday. That compares to 5,928
claims a week earlier, and 5,710 claims a year ago. The state
unemployment rate stood at 4.3 percent in September, compared to 3.9
percent in August, and 3.7 percent a year earlier.
