Thursday, March 15, 2018

Vermont’s Low Unemployment Rate Hurting Construction

Vermont's unemployment rate continues to remain low while employers across the state report they can't find enough workers to fill open jobs.

The state Department of Labor on Monday released the January unemployment statistics that showed 2.9 percent of the state's workforce is unemployed. The figure is unchanged from the December figure. 2.9% is about what the lowest the Fed says an area can go as many in the percentage want to remain unemployed until their weekly benefits end or are signed up as unemployed but have taken ‘cash’ jobs.

The state unemployment rate is tied for the fourth lowest rate in the country.

This is hurting not only builders in VT but also in the surrounding states as workers realize driving about an hour to work in VT means higher wages.

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