Unemployment rate dips in January

first_imgUnemployment rate dips in JanuaryVermont Labor Force Statistics (Seasonally Adjusted) January 2005 December 2004 January 2004Total Labor Force 353,100 354,700 353,100 Employment 340,800 342,000 338,000 Unemployment 12,400 12,700 15,100 Rate (%) 3.5 3.6 4.3Montpelier – The Department of Employment and Training has announced that theseasonally adjusted unemployment rate for January was 3.5 percent, down one tenth of apercentage point from the revised December estimate. The change in the rate from lastmonth, however, was not considered statistically significant. Vermont’s unemploymentrate remained below the national unemployment rate of 5.2 percent.Unemployment rates for Vermont’s 17 labor market areas ranged from 1.7 percent in Hartford,to 6.9 percent in Barre-Montpelier. Labor market area rates are not seasonally adjusted; for comparison,the unadjusted rate for Vermont was 4.3 percent.”Unemployment remained low as annual job growth improved,” said Patricia A.McDonald, Commissioner of the Department of Employment and Training. “Post-holidayseasonal layoffs were slightly larger than expected in January but should be temporary.”Seasonally adjusted job numbers fell by 1,300 in January after a similar gain inDecember. Leisure and hospitality added fewer jobs than usual, possibly indicating thewinter recreation season was not ideal. Health care and social assistance experienced anunusual employment drop in January. Cuts in retail employment were larger than usualfollowing the holiday season. Manufacturing experienced a modest decline and appearsto have lost the momentum it displayed last summer. Job cuts in private education wereless than normal during the semester break, producing a slight increase in the seasonallyadjusted employment.Before seasonal adjustment, the number of nonfarm jobs in Vermont fell by more than8,000 as the typical winter contraction occurred. The largest decline was in retail trade asmany temporary jobs were lost after the peak holiday season. Construction employmentfell as expected due to limited outdoor activity. State and private educational institutionsreduced employment during their break in academic activity. Manufacturing cutsoccurred in both durable and nondurable production. Professional and business servicesalso declined, due partly to fewer jobs at temporary help firms. Winter recreation activityhelped to support the labor market but hiring was less than normal for January.The total number of jobs was up by 1.8 percent compared to last year, which is slightlyhigher than the revised estimates for recent months.TECHNICAL NOTEThe unemployment and job estimates for prior years were revised in accordance with theprocedures of the U.S. Bureau of Labor Statistics. These benchmarking updates are doneevery year. In addition, this year the methodology used to estimate the unemploymentrate has been improved to allow us to make a statement about whether the change in therate was statistically significant. In order to make such a statement, the unemploymentmethodology must be able to estimate the combined sampling and modeling errorassociated with the estimate of the unemployment rate. This also allows us to say theJanuary unemployment rate (3.5%) was within a band of 0.7 percentage points; or, we are90 percent confident that the January unemployment rate was between 2.8 percent and4.2 percent.We have also updated the geographic areas known as Labor Market Areas. This is doneevery 10 years based on the latest decennial Census data, and in discussion with the U.S.Bureau of Labor Statistics. We use the Metropolitan Area and Micropolitan Areasdesignated by the U.S. Office of Management and Budget. We designate other economiccenters around the state based on population and commuting patterns. To see thedefinitions of our new Labor Market Areas, go to our web site at:http://www.vtlmi.info/unemp.cfm(link is external)last_img read more

Weekly unemployment claims up 400

first_imgFor the week of June 19, 2010, there were 1,103 new regular benefit claims for Unemployment Insurance, an increase of 409 from the week before. Altogether 10,211 new and continuing claims were filed, an increase of 489 from a week ago and 4,084 fewer than a year earlier. The Department also processed 3,301 First Tier claims for benefits under Emergency Unemployment Compensation, 2008 (EUC08), 151 more than a week ago. In addition, there were 1,930 Second Tier claims for benefits processed under the EUC08 program, which is a decrease of 163 from the week before. The Unemployment Weekly Report can be found at: http://www.vtlmi.info/(link is external). Previously released Unemployment Weekly Reports and other UI reports can be found at: http://www.vtlmi.info/lmipub.htm#uc(link is external)last_img read more

3 factors impacting GAP in 2019

first_img ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr continue reading » Rising costs, depreciation values, and total loss claims are disrupting the way the auto market is doing business as dealers, lenders, and consumers grapple with how to best handle the strain on finances and resources. GAP is one ancillary product that is being impacted by the economic factors and continuing to cause concern for lenders and consumers in 2019.Many consumers assume that their insurance policy is enough to cover the remaining balance on their loan if their car is ever totaled or stolen. Unfortunately, that is not always the case as the actual cost value (ACV) of the car decreases over time. GAP (short for Guaranteed Asset Protection) is a popular add-on for car buyers that, according to the Consumer Finance Protection Bureau, is an optional product meant to help cover the amount, or ‘gap’ between what insurance will pay for a totaled car and the remaining balance on the loan.1This is a helpful option for buyers, because it’s a tough situation for lenders and consumers alike if the car becomes damaged or totaled, but the insurance pay out does not fully cover the outstanding balance owed on the vehicle. This is known as an ‘upside down’ loan. According to Edmunds, there’s millions of upside-down trade-ins that happen annually, which can lead to a strain on finances for both the consumer and lender in the event of a total loss.2 This strain, particularly on GAP claims, is emerging from various market conditions, with three main factors to consider.last_img read more

The project of upgrading the port of Crikvenica worth 33 million kuna was presented

first_imgGood transport connection of the island with the mainland is indispensable for the development of the island and quality living conditions of the local population, is the conclusion of today’s presentation of the project to upgrade the port open to public transport Crikvenica. Minister Oleg Butković pointed out that investment projects in port infrastructure have not only functional and economic significance, but also wider social significance for the local community. The director of the Crikvenica County Port Authority, Mario Kružić, pointed out the numerous benefits of the project for the entire port infrastructure of the city. “I am proud that the Crikvenica County Port is part of this important project. By achieving the investment cycle, we will contribute to the further development of the local economy and tourism by connecting the island of Krk to a wider transport network, but also to a significant improvement in the quality of life of our fellow citizens.”. The works covered by the project include investments in the security of the port and the improvement of the reception of vessels in the port. After the completion of works in the summer of 2020, Crikvenica will get a new western breakwater to protect vessels during storms, then a T-pier in the extension of the small palace and a new anchor system, installed water supply, hydrants and electrical installations. A few hundred meters of new piers and breakwaters will also provide a greater number of berths for vessels in the port. The adoption of the State Aid Program for the Development of Ports Open to Public Transport opened the possibility of co-financing projects with grants from EU funds, in which the Crkvenica County Port Authority recognized the possibility of improving the connection of the island of Krk with the mainland and better living conditions. “This project is part of the largest investment in maritime property in the Primorje-Gorski Kotar County, which we can really be proud of. I am glad that by working together we can contribute to the development of our islands”, Said the County Prefect of Primorje-Gorski Kotar Zlatko Komadina. ZLU Crikvenica is a great example to other port authorities on how to make the most of the opportunities provided by the European Union in financing projects. Namely, out of the total value of the project of almost HRK 33 million, as much as HRK 28 million was co-financed by the Operational Program Competitiveness and Cohesion, which reduced the burden on the state budget to a minimum.last_img read more

Coronavirus: Foreign sailors aboard cargo vessel quarantined off West Sulawesi coast

first_imgForty foreign crew members aboard a vessel that had been scheduled to transport palm oil from Pasangkayu, West Sulawesi, have been quarantined inside the ship off the coast of the province over fears of China’s deadly coronavirus.Tanjung Bakau Port head in Pasangkayu, Agung, said the quarantine procedure commenced on Tuesday. The vessel had since been ordered to maintain its position at least 1 kilometer from the port as it awaited the arrival of a medical team that would examine its crew members for any symptoms of COVID-19, the disease brought on by the fast-spreading virus, he said. The foreign vessel is not allowed to moor at Tanjung Bakau Port until after the quarantine has ended and once the crew members are declared free of the deadly virus.“All foreign vessels are not allowed to immediately moor at the port until after they’ve been declared free of the coronavirus. Even if a ship is indeed considered free of the virus, none of its crew members are allowed to disembark,” Agung said on Thursday as quoted by kompas.com.The port management would provide the foreign crew members with logistical support during the quarantine period, he said.Indonesia previously raised concerns over coronavirus transmission from foreign transportation, with port authorities putting in force stricter measures to reduce the risk of the virus by screening foreign vessels and ships seeking to dock in ports across the archipelago.The move followed Japan’s decision to quarantine the virus-hit Diamond Princess cruise ship and its roughly 3,700 passengers in Yokohama for two weeks. After having begun on Feb. 4, the quarantine ended Wednesday, with more than 600 people, including four Indonesian crew members, testing positive for COVID-19.Since it first emerged from the Chinese city of Wuhan in late December, COVID-19 has killed more than 2,000 people worldwide, including at least eight deaths outside mainland China. The virus has spread to nearly 30 countries, with more than 70,000 people infected globally. (rfa)Topics :last_img read more

Syracuse weathers Duke comeback to win 2nd straight ACC tournament championship

first_imgAnd just as Jones answered, so did Williams by winning his third faceoff in a row.But that’s when the game was halted due to lightning. The field flooded with water and when play resumed, SU kept pouring on Duke with goals.“I was pleasantly surprised with the emotion,” Desko said. “I thought after sitting around for a few hours, we’d be a little bit flat, but guys came fired up and ready to play.”The fans that stood and cheered as Syracuse trekked to Turf Field 1 had to wait for their team to seal the deal. And after a dominant final stretch, those fans could cheer what they ultimately wanted: an ACC title. Comments As the Blue Devils climbed back, Syracuse’s potential downfall mimicked its blown leads earlier in the season: at Johns Hopkins, at Cornell and on the road against this same Blue Devils team.But in that game, Molloy was still on the bench as the backup for Warren Hill, Syracuse’s offense wasn’t as defined and Williams didn’t win the key faceoffs.On Sunday, Williams won the first faceoff of the fourth quarter. After cycling the ball, Sergio Salcido, who has been an offensive spark plug throughout the second half of the season, threw a skip pass to Barber. The senior attack caught it, wound up and ripped it home.It wouldn’t be that easy, though. Right after Barber’s goal, Jones scored his second by dodging down the left alley, beating Scott Firman and getting his hands free. When the two teams met in March, the Orange blew a four-goal, fourth-quarter lead. Faceoff specialist Ben Williams failed to win key possessions down the stretch and the Blue Devils knocked off SU before the Orange even had a chance with the ball in overtime. On Sunday, though, Syracuse did what it took down the stretch.In three of the last four times these teams played, the game was decided by one goal. For most of the game on Sunday, this time would be no different. But that’s when the blowout began.After the Blue Devils tied it up at two in the first quarter, Dylan Donahue caught a pass in transition from goalie Evan Molloy. With a three-on-two opportunity, Donahue carried the ball toward the net and took the space to wind up and shoot. That put Syracuse up by one again. But the play started with Nick Mariano checking a Duke player from behind and forcing the turnover.And Molloy’s ability to pick the ball up, start the clear and kickstart Syracuse’s offense was a key throughout the game.Molloy made another diving save with 11 minutes left in the second quarter. Then he made another quick pass to defensive midfielder Joe Gillis. And then the Orange scored another quick goal. Gillis carried the ball toward the net, shook off a defender and canned a shot from just a few yards out to give SU a 5-3 lead in the second quarter.While the rebounds off Molloy’s saves bounced into the Orange’s sticks, a rebound off Duke goalie Danny Fowler went into Tim Barber’s stick. Barber caught it, wound up and finished to push Syracuse’s lead to three.The Orange held its 8-5 lead in the third and perhaps even more importantly, Duke’s two most dynamic offensive players, Deemer Class and Myles Jones, combined for just two goals and no assists. In the team’s first matchup in March, Class had seven goals and two assists while Jones had two apiece.Jones finally got on the board with 4:12 left in the third as he roll dodged, switched to his left hand and put a bounce shot past Molloy. Facebook Twitter Google+ Syracuse fans lined a fence and gave the Orange players a standing ovation. The team was parading out of Fifth Third Bank Stadium more than four hours after the game started.But the fans weren’t celebrating a victory. That would have to wait. Seven minutes 10 seconds remained in the contest to decide a conference champion.Only one goal separated Syracuse and Duke. And after a two-hour 57-minute weather delay, what was at stake was the difference between locking up an NCAA tournament berth rather than assuming it was.Play resumed across the street at “Turf Field 1” and the floodgates on the Orange’s offense opened up. Five different players scored after the restart and SU cruised to a 14-8 victory.No. 4 seed Syracuse (10-4, 2-2 Atlantic Coast) won its second consecutive ACC title over No. 3 seed Duke (10-7, 2-2) on Sunday afternoon in Kennesaw, Georgia. With the victory, SU clinched an automatic berth into the NCAA tournament. After the delay, Syracuse outscored the Blue Devils by five goals in the final 7:10 to secure the win.AdvertisementThis is placeholder text“Really an interesting day between the regular game and coming out for the last seven minutes,” Orange head coach John Desko said in a CuseTV interview. “I’d have to look back to see what happened. Everything happened so quickly, but it’s certainly great to have the win.” Related Stories Fast reaction: 3 takeaways from Syracuse’s 14-8 ACC championship win over DukeStorify: Syracuse community reacts to wild ACC championship win over Duke Published on May 1, 2016 at 5:10 pm Contact Paul: [email protected] | @pschwedslast_img read more

WTA chief Steve Simon defends Maria Sharapova’s wildcard entry

first_imgWomen’s Tennis Association Chief Executive Steve Simon has defended the wildcard entry awarded to former world number one Maria Sharapova for the Stuttgart Open following her 15-month doping ban.While some say the five-times grand slam champion, initially banned for two years after testing positive for Meldonium at the 2016 Australian Open, has done her time some fellow players are angry the red carpet is being rolled out.Sharapova will play Italian Roberta Vinci in the Round of 32 of the Stuttgart Open on Wednesday and Simon believes the ban was more extensive than previous offenders.”You have to look at how other leagues and tours have handled players who have come back,” Simon told BBC Sport. “They come right back to the team and start playing.”She is starting at ground zero. It is going to affect her seedings in big tournaments so she’s still going to pay a penalty for a while.”If you think about it from other leagues, most of them (bans) are half of a season or a full season. She’s had a year and a half.”Former world number one Kim Clijsters also supported the decision to let Sharapova compete in the tournaments.”I was disappointed and surprised when the news came out but, having been on both sides of the spectrum as a tournament director and as a player, I don’t think she needs to be punished more,” Clijsters said.ALSO WATCH:last_img read more