Introduction
Workforce
Distribution of Employment
Expanding Industries
Top Employers
Occupational Wage Rates By Trade
Minimum Wage
Fringe Benefit Data
Average Annual Salary

LABOR & INDUSTRY

Rock of Ages artisans working on granite memorials.

INTRODUCTION

The Central Vermont region has the second-largest labor force in the
State of Vermont, which is 38,000. The region’s overall population is 63,2707(1).

Employment in the region is spread between state government, manufacturing, trade, and finance & insurance, giving the region a broad-based economy that has performed strongly over the past several years. Nevertheless, there remains a pool of skilled workers available for new employment opportunities.


WORKFORCE
New Englanders are legendary for their strong work ethic, taking great pride in producing high-quality products and providing topnotch services. Central Vermonters are no exception, sharing the same values as those throughout Vermont and the remaining New England states.

Local education institutions, including Norwich University, Community College of Vermont, Woodbury College, Barre Vocational Center, and nearby Vermont Technical College, are excellent resources for well- trained employees.


DISTRIBUTION OF EMPLOYMENT

Manufacturing................................2,900
Wholesale & Retail........................4,500
Construction & Mining...................1,600
Finance, R.E. & Insurance..............2,550
Government...................................9,100
Trade, Transportation & Utilities....6,200
Leisure & Hospitality.....................3,150
Education &I Health Services........5,550
(Provided by VT Dept. of Labor )

EXPANDING INDUSTRIES

    The perception throughout the country about Vermont’s economic base is that our primary industries are those related to agriculture, forestry and hospitality. While these industries remain an integral part of Vermont’s "personality", our state and Central Vermont are growing, and with growth comes change.

    Would you believe that expanding industries here are captive insurance; environmental product and process development; high-technology manufacturing; tourism; business and personal services, and plastics? It’s true!(3)

    In fact, four Central Vermont companies top statewide sales growth in the Financial, Insurance & Real Estate industry. National Life of Vermont in Montpelier ranks #1 with sales exceeding $1 billion. Blue Cross/Blue Shield of Vermont in Berlin ranks second with sales of $231 million. Vermont Mutual Group in Montpelier ranks third with sales of $104 million, while Union Mutual Fire Insurance, also in Montpelier, ranks fourth with sales of $54 million in 1998.(4)

    FACT: In 1996, the U.S. Census Bureau ranked Vermont 19th out of 50 states for non-farm employment. This ranking represents those employed in manufacturing.(5)


TOP CENTRAL VERMONT EMPLOYERS

National Life Group................................Life insurance
Yearly Sales: $500M - $1B - Full Time Employees: 1,000

Rock of Ages...................................Granite manufacturer
Yearly Sales: $50 -$100M - Full Time Employees: 980

Vermont State Colleges......................Education
Full Time Employees: 980

Central Vermont Medical Center.......................Healthcare
Yearly Sales: $50-$100M - Full Time Employees: 826

        Washington County Mental Health Services.......Health care
        Yearly Sales: $10-50M - Full Time Employees: 600
        Cabot Creamery Co-op...........................Cheese & dairy products
        Yearly Sales:$100 -$500M- Full Time Employees: 500
        New England Culinary Institute..............Cooking school
        Yearly Sales: 10-50M - Full Time Employees: 500
        Green Mt. Coffee Roasters....................Gourmet coffees
        Yearly Sales: $50 - $100M - Full Time Employees: 440
        Norwich University................................Education
        Yearly Sales: $10M-$50M - Full Time Employees: 344
        Blue Cross/Blue Shield of Vermont..............Health insurance
        Yearly Sales: $100 - $500M - Full Time Employees: 400 (6)



OCCUPATIONAL WAGE RATES BY TRADE

A sample of the typical hourly wage rates by occupation is below. For a complete list of wages on file with the Dept. of Employment & Training, call us and we will mail you the list. For additional employment statistics, click here for the Vermont Dept. of Employment & Training’s home page.

Occupation: Average Wage:

Administrative Service Managers.............................. 34.52
Architectural & Civil Drafters....................................16.90
Assemblers, Precision, Electrical/Electronic Equip.....12.11
Carpenters...............................................................15.36
Cashiers....................................................................7.57
Clerks - Bookkeeping/Accounting/Auditing............. 13.40
Clerks- Shipping/Receiving/Traffic ............................11.86
Computer - Data Entry Keyers/Encoders................. 10.23
Crane & Tower Operators ......................................15.95
Drafters/CAD Drafters/Mech...................................19.19
Electrico-Mech. Tech...............................................19.12
Engineer—Manager ............................................... 39.63
Electricians ..............................................................15.86
Excavating/Loading Machine Operators....................13.59
Forklift/Industrial Truck/Tractor Operators...............12.43
Machinery Maintenance Workers.............................12.19
Machinists................................................................16.42
Managers/Supervisors - Construction........................31.63
Medical & Health Services Manager.........................36.22
Medical Assistant.....................................................13.16
Network & Computer System Adm......................... 22.33
Purchasing Agents - Manufacturing............................20.10
Repairers - Telecommunication/Line Repairers .........16.27
Tool & Die Makers - Precision.................................15.96
Training & Development Specialists..........................19.40
Truck Drivers - Heavy/Tractor-Trailer......................14.41
Welders & Cutters- Hand ........................................14.35 (7)


VERMONT'S MINIMUM WAGE

    Vermont’s minimum wage is currently $7.25 per hour - effective 1/1/2006.(8)



FRINGE BENEFIT DATA 2003

Fringe benefits for full-time employees vary depending largely upon the number of people companies employ. According to a 2003 survey by the Vermont Dept. of Employment & Training, the figures below are the average among companies of all sizes. For a more detailed breakdown, please contact CVEDC and we will be happy to send you a complete copy of the survey.

Health Ins....................................................73%
Life Insurance..............................................41%
Dental Insurance..........................................42%
Retirement, Defined Contribution.................54%
Retirement, Defined Benefit...........................8%
Company Profit Sharing..............................15%
Day Care Expense Reimbursement................9%
Day Care Operated by Firm..........................2%
Tuition Reimbursement.................................26%
None of the Above Available.......................30%
% of Health Insurance Cost Paid By Firm....81%(9)


VT'S AVERAGE ANNUAL SALARY

In 2003 Vermont had a total personal income of $18,903,515. This ranked 49th in the United States. In 1993 Vermont was $11,257,373 and ranked 50th in the United States. The 2003 income reflects an increase of 3.6 percent from 2002.(10)