Fri, 12/18/2020 - 10:16am tim
by Timothy McQuiston Vermont Business Magazine The Vermont Department of Labor reported today that the state unemployment rate for November has now fallen back to its pre-pandemic level of 3.1 percent. This is not good news. Vermont claimants could lose some federal extended benefits because the rate is so low. The rate also hides the fact that the VDOL still estimates that 30,000 Vermonters are out of work, far higher than the official level. The unemployment rate is based on household data accumulated by the US Census.
The seasonally-adjusted statewide unemployment rate for November of 3.1 percent reflects a decrease of one tenth of one percentage point from the prior month’s revised estimate of 3.2 percent. The comparable United States rate in November was 6.7 percent, a decrease of two tenths of one percentage point from the revised October estimate.