Retain and support existing employers and job growth, grow target sector employers and entrepreneurs, and work to attract a greater diversity of employers and employees.
Measure the successful implementation of the Northwest Regional Plan, which contains six guiding principles for the future of the region: Coordinate and leverage state, local and federal policies and investments; Provide more transportation choices; Promote equitable, affordable housing; Enhance economic competitiveness; Support existing communities; Value communities and neighborhoods.
Ensure that opportunities to experience, participate in, and benefit from the economy are available to everyone.
Unemployment Rate-Northwest Region
Current Value
2.7%
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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.
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.