Job counts up slightly in October, jobless rate unchanged at 5.2%

first_imgJob counts up slightly in October, jobless rate unchanged at 5.2%Montpelier (November 21, 2008) — The Vermont Department of Labor announced today that the seasonally adjusted unemployment rate for October 2008 was 5.2% percent, unchanged from the revised September rate and up 1.3 points from a year ago.”Though our employment and job numbers looked relatively good in October we believe that the impact is temporary,” said Patricia Moulton Powden, Commissioner of the Vermont Department of Labor. “The increases we saw in seasonally adjusted employment and jobs may have been due to our surveys capturing a favorable foliage season. Never-the-less we welcome the stability in our unemployment rate in an environment where our national rate grew four-tenths of a point.”Job GrowthBefore seasonal adjustment, Total Non-Farm jobs grew by 2,000 or 0.6% from September to October. Despite this growth, Total Non-Farm jobs remains down by 0.3%, or about 900 jobs, over the year. The largest monthly gainers in October were Local Education (+1,750 or 7.6%), Retail Trade (+500 or 1.3%) and Accommodations (+400 or 4.3%). On an annual basis Healthcare & Social Assistance is the only sector showing significant job growth (+950 or 2.1%). The Manufacturing and Construction sectors have contracted by 750 and 950 jobs respectively over the year.When seasonally adjusted, job levels increased by 500 or 0.2% over September, but still lag a year ago by 900 or -0.3%. Leisure & Hospitality was primarily responsible for the job gain over the month, (+800 jobs or 2.5%). We believe this to be a temporary phenomenon caused by our sample capturing the impact of a favorable foliage season whereas in most years it does not.Employment GrowthVermont’s observed seasonally adjusted monthly changes in labor force and employment were statistically significant and greater than September values, but unemployment levels and rates were not. For comparison purposes, the US seasonally adjusted unemployment rate for August was 6.5 percent, up four-tenths of a point form September 2008. Unemployment rates for Vermont’s 17 labor market areas ranged from 2.8 percent in Hartford to 6.2 percent in Newport. Local labor market area unemployment rates are not seasonally adjusted. For comparison, the unadjusted unemployment rate for Vermont was 4.6 percent, down three-tenths of a point from September 2008 and up 1.3 points from a year ago.last_img read more

Did the Federal Reserve whiff on raising rates?

first_imgAs the Major League Baseball season gets under way, the Federal Reserve has struck out twice with its last two rate moves, according to one economist who suggests if financial institutions raise their deposit rates the central bank will likely hold off on any further rate increases over next two years.Michael Moebs, economist and CEO at Moebs $ervices, contends the last two rate hikes were a mistake for the health of the economy, and believes at this point Fed rate reductions would be helpful. But Moebs also is predicting rates will hold fairly steady over the coming 12-24 months, and may even inch up.“If President Trump keeps putting pressure on Fed Chair (Jay) Powell there could be one or two decreases in 2019. It is obvious from the Moebs Interest Rate Study the Fed increased rates two times too much in 2018,” said Moebs. “Yet, if the Fed decreases rates it would be signaling it made a mistake. I do not think the Fed will admit it made a mistake.” ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr continue reading »last_img read more

Robin van Persie blames Arsenal’s midfield for the team’s lack of goals

first_imgRobin van Persie blames Arsenal’s midfield for the team’s lack of goals Robin van Persie (Picture: Getty Images)Robin van Persie lays the blame at Arsenal’s midfield for the team’s lack of goals, singling out Granit Xhaka, Joe Willock and Matteo Guendouzi as players who lack creativity.The Gunners picked up a good result on Thursday night in the Europa League , winning 1-0 away at Olympiakos thanks to a late Alexandre Lacazette goal.The win continues the encouraging progress the side are making under Mikel Arteta as they extend their unbeaten run to nine games in all competitions and record their third straight clean sheet. However, goals have been an issue for Arsenal this season, scoring 36 in 26 games in the Premier League, leaving them 10th in the division with just seven wins.AdvertisementAdvertisementADVERTISEMENTVan Persie does not see the forwards – Lacazette, Pierre-Emerick Aubameyang and Gabriel Martinelli – are to blame, but the midfielders who are failing to create chances for the front line.‘What is the reason why Arsenal don’t create so many chances? I believe it’s because the midfielders,’ said the Dutchman.‘The strikers don’t believe that final ball can come.‘If you look at Xhaka, Willock, Guendouzi they don’t have that final ball in their locker.‘I think it affects the front three in a bad way. The strikers need to have that feeling like the ball is going to come. It’s not coming that often.’Arsenal have drawn more games than any other team in the Premier League this season, recently being held to stalemates by Burnley, Sheffield United and Crystal Palace.However, after some calamitous defensive problems under previous manager Unai Emery, Arteta is encouraged by the improvements at the back rather than the struggles up front.‘I have told the players they have to enjoy defending as much as they do attacking because it’s a big part of the game,’ said the Spaniard after the win in Greece.‘So if you give simple balls away you’d better run back and recover that ball as quickly as possible.‘But this team plays with a big heart and I see a lot of effort from these players. Instead of splitting they have joined together really quickly.’Arsenal return to Premier League action on Sunday in a huge clash in the race for European places at home to Everton.MORE: Bernd Leno sends clear message to Bukayo Saka over Arsenal futureMORE: Robin van Persie compares ‘world-class’ Bukayo Saka to Arsenal and Manchester United legends Comment Metro Sport ReporterFriday 21 Feb 2020 8:43 amShare this article via facebookShare this article via twitterShare this article via messengerShare this with Share this article via emailShare this article via flipboardCopy link639Sharescenter_img Advertisement Advertisementlast_img read more