Vermont’s labor force hits a 15-year low

In July Vermont’s labor force dropped to its lowest level in 15 years. The labor force comprises people who are employed, including self-employed, and those who are unemployed but actively job hunting. Vermont’s labor force fell to 343,850 last month—the lowest level since July 2002, when it numbered 343,835. The unemployment rate also dropped in July, to 3.1 percent. The decline in the labor force tells us that unemployment shrank not because people found jobs, but because they stopped looking.