Key Facts & Figures: 5. 2017 Update

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All in all, Vermont had a pretty good year in 2017. Total personal income increased, the unemployment rate dropped below 3% and, for the twelve months ended November 2017, non-farm employment was up by 5,000 jobs. In addition, maple syrup production was strong and the state’s ski areas had a good year.

The news was not all positive. Vermont’s population continued to slowly decline and age and the number of Persons in Poverty increased.

In the tables below, key Census Bureau information, personal income and employment data and state government statistics will be reviewed. Any reader planning a quiz night will find this particularly interesting!

Key Census Bureau Information: Vermont vs. the USA

Vermont USA
2017 Population Estimate 623,657 325,719,178
2017 Population Growth -0.15% +0.80%
% Population Aged 65 and Older 18.1% 15.2%
2016 Per Capita Personal Income $49,984 $49,246
2016 Median Household Income $56,104 $55,322
2017 Unemployment Rate 2.9% 4.1%
2017 Persons in Poverty 11.9% 12.7%
Median Value of an Owner-Occupied Housing Unit $218,906 $184,700
Median Gross Rent/Month $913 $949

Source: US Census Bureau, Quick Facts Vermont and Quick Facts USA

Vermont Total Personal Income ($ billions)

2017 2016 % Change
Total Personal Income 31.98 31.22 +2.4%
-From Earnings 21.19 20.59 +2.9%
–Private Earnings 16.94 16.48 +2.8%
–Earnings from Government and Government Entities 4.14 4.01 +3.2%
-Interest, Dividends, Rental Income and Government Transfer Payments to Individuals 10.79 10.63 +1.5%

Source: Vermont Comprehensive Annual Financial Report Fiscal Year 2017

Vermont Non-Farm Employment Trends

Nov. 2017 % Total Nov. 2016 % Total
Total Non-Farm Employment 317,600 100% 312,600 100%
-Private Employment 262,100 82.5% 257,200 82.3%
-Government Employment 55,500 17.5% 55,400 17.7%

Source: Vermont Department of Labor

Vermont Non-Farm Employment: Top Ten Sectors in 2016

Sector Number of Employees % Total % Change Since 2007
Healthcare & Social Assistance 50,900 16.3% +15.2%
Retail Trade 38,000 12.1% -5.5%
Accommodations and Food Service 32,200 10.3% +11.4%
Local Government Education 22,500 7.2% -0.8%
Manufacturing: Durable Goods 18,700 6.0% -28.4%
Construction 15,300 4.9% -8.9%
Professional & Technical Services 14,400 4.6% +8.7%
Education Services 13,500 4.3% +3.1%
Manufacturing: Nondurable Goods 11,200 3.6% +14.3%
Administrative & Waste Services 11,200 3.6% +27.3%

Source: Vermont Comprehensive Annual Financial Report Fiscal Year 2017

The 10-year shift in employment is striking. Note the decline in durable goods manufacturing (down 28.4%) and the increase in lower paying service jobs ( health care services up 15.2% and food service & accommodation up 11.4%)

Other Vermont Statistics

Category 2017 2016
Key Industries
-Gallons of Maple Syrup 1,980,000 1,990,000
-Number Ski Visits 3,900,000 3,200,000
State Government Employees 8,377 8,182
Average Expenditures/Public Student $18,877 $18,427
Law & Order
-Number of State Law Enforcement Officers na 374
-Number of Sherriff Department Law Enforcement officers na 131
-Number State Police Vehicles 496 528
-Total Corrections Population 9,692 9,809
-Number of Corrections Employees 1,065 1,036
Transportation
-State Highway Miles 2,709 2,709
-Total Snowplowing Hours na 180,069
-Structurally Deficient Bridges na 44
-Bridges Over 20 Feet 1,089 1,089
-Paving Projects (miles) na 220

Source: Vermont Comprehensive Annual Financial Report Fiscal Year 2017

Well, there you go.  Pretty much everything you need to know in one convenient location!

 

 

 

 

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