Vermont unemployment rate falls again, now 2.9 percent

Vermont unemployment rate falls again, now 2.9 percent

As a result, the state's unemployment rate increased from 3.4 to 3.5 percent.

Preliminary labor statistics released Friday show that the Norfolk area, made up of Madison, Pierce and Stanton Counties, saw its unemployment rate drop to 2.2%, the lowest mark the Norfolk area has hit since it fell to 2.1% back in November of 2014.

Workforce Development Secretary Ray Allen says the 2.5 million people working in private sector jobs in September is an alltime high.

The department said the job growth gave the state its highest private-sector employment level ever at a seasonally adjusted 2,543,200.

Household squeeze as inflation hits highest level for five years
In the third quarter, retail sales grew 1.5 percent, the lowest pace since the second quarter of 2013. Non-store retailing sales (i.e. mainly online and mail order) rose 0.2% over the month.

The number of jobs in the area hit an all-time high of 192,628 last month, almost 900 more than the previous all-time high in August.

State jobless percentages dipped from August to September. At 24 consecutive months, ME is experiencing the second-longest sustained period in over 40 years with an unemployment rate of 4 percent or lower, it said.

The U.S. unemployment rate stood at 4.2 percent in September. The largest job gains continued to be in health care, construction and hospitality. This reflects a decline of one-tenth of one percentage point from the revised August rate (3.0 percent).

ME labor officials say the current 24-month stretch in which unemployment has been 4 percent or less is the second-longest such period in more than four decades.

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