All Northwest Region children and adults have the education, skills, and opportunities, necessary to meet their full economic and social potential and well-being. and 3 more...
Unemployment Rate-Northwest Region
Current Value
2.7%
Definition
Comparison
Story Behind the Curve
The COVID-19 pandemic resulted in immediate high unemployment rates, topping 14% statewide in the spring of 2020. Since then, Vermont has had a strong economic recovery. The region consistently has an unemployment rate at or lower than the statewide rate. In 2022, the unemployment rate has been under 3%, a sign of a tight labor market.
Why Is This Important?
This number represents the yearly average unemployment rate. An unemployment rate of between 3%-5% is generally considered optimal with rates of below 3% are a sign of a tight labor market.
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