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US State economic profile
Vermont - Economic Profile
Statistics, economic information and rankings for the Green Mountain State
In 2026, the state of Vermont has a population of 650,541, having grown an annualized 0.1% over the five years to 2026, which ranks it 45th out of all 50 US states by growth rate. Vermont's gross state product (GSP) in 2026 reached $37.2b, with growth of 2.1% over the 5 years to 2026. Businesses in Vermont employed a total of 359,624 people in 2026, with average annual employment growth over the past five years of 1.4%. The top three sectors by total employment are Real Estate & Rental & Leasing, Professional, Scientific & Technical Services, Healthcare & Social Assistance, while the unemployment rate across the state in 2026 was 2.9%.
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State economic profile
Vermont Economic Overview
$37.2b
Gross state product
650,541
Population
84,907
Businesses
What is Vermont's Gross Domestic Product (GDP)?
In 2026, Vermont's GDP reached $37.2b, representing an increase of 2.1% from 2025. Vermont's GDP has grown at an annualized rate of 1.5% over the five years to 2026. Moreover, Vermont's trailing five-year GDP growth ranks it 23rd out of all 50 US states.
State GDP, or Gross State Product, is a measurement of a state's output, or the sum of value added from all industries in the state. It is a common indicator used to track the health of a state's economy.
You can track trends in Vermont's GDP, and compare them to the national average, using the chart below.
State economic profile
Vermont Industry Trends
Learn about current trends affecting the most significant industries for Vermont's state economy, down to the county level. IBISWorld offers state industry research reports on over 30,000 industries across all 50 states in the US, including 607 industries in Vermont.
What are Vermont's Largest Industries by Revenue?
The largest industries by revenue in Vermont are Life Insurance & Annuities, Hospitals and Public Schools, which generated $3.7b, $3.5b and $3.2b in 2026.
| Industry | 2026 revenue | |
|---|---|---|
| 1. | Life Insurance & Annuities | $3.7b |
| 2. | Hospitals | $3.5b |
| 3. | Public Schools | $3.2b |
| 4. | New Car Dealers | $2.6b |
| 5. | Dairy Wholesaling | $2.6b |
| 6. | Supermarkets & Grocery Stores | $2.4b |
| 7. | Dairy Product Production | $2.0b |
| 8. | Colleges & Universities | $1.9b |
| 9. | Data Processing & Hosting Services | $1.6b |
| 10. | Property, Casualty and Direct Insurance | $1.5b |
State economic profile
Top Companies in Vermont
Learn about current trends affecting the top companies in Vermont. IBISWorld offers benchmarking data and tools on over 5,000 companies in the US.
Top 10 Companies Headquartered in Vermont by Employment
The largest companies by employment in Vermont are The University of Vermont Medical Center, Dartmouth Hitchcock Medical Center and Clinics and University of Vermont, which employed 8,800, 8,000 and 4,125 people in 2026.
| Company | 2026 employment | Share of employment | |
|---|---|---|---|
| 1. | The University of Vermont Medical Center | 8,800 | 2.4% |
| 2. | Dartmouth Hitchcock Medical Center and Clinics | 8,000 | 2.2% |
| 3. | University of Vermont | 4,125 | 1.1% |
| 4. | Rutland Medical Center | 1,700 | 0.5% |
| 5. | United States Postal Service | 1,410 | 0.4% |
| 6. | Walmart | 1,355 | 0.4% |
| 7. | General Electric Company | 1,100 | 0.3% |
| 8. | Cabot | 1,100 | 0.3% |
| 9. | Community College of Vermont | 655 | 0.2% |
| 10. | Home Depot | 636 | 0.2% |
State economic profile
Vermont Sector Statistics
In Vermont, certain sectors drive a higher share of state GDP and employ more workers than others. However, simply looking at raw numbers doesn't always tell the whole story. Factoring in the current year growth percentage, in addition to the annualized growth percentage over the past five years, will give you a deeper understanding of the economic situation.
What is Vermont's GDP by Sector?
The Real Estate & Rental & Leasing, Professional, Scientific & Technical Services and Healthcare & Social Assistance sectors contributed the most to Vermont's GDP in 2026, representing a combined 41.0% of state GDP.
GDP trends by sector are an important indicator of which sectors are contributing the most value-add to the state economy, in addition to how the state economy is evolving over time.
| Sector | GDP | Growth 2026 | Annualized growth 2021-26 |
|---|---|---|---|
| Real Estate & Rental & Leasing | 5,069,508,296 | 1.6% | 1.7% |
| Professional, Scientific & Technical Services | 4,366,673,021 | 8.8% | 8.5% |
| Healthcare & Social Assistance | 4,208,686,428 | 2.3% | 2.7% |
| Retail Trade | 3,058,336,598 | 4.0% | 3.6% |
| Manufacturing | 2,748,194,604 | -2.0% | -2.0% |
| Accommodation & Food Services | 2,381,769,522 | 5.3% | 5.4% |
| Finance & Insurance | 1,747,066,912 | -0.0% | 0.4% |
| Administration, Business Support and Waste Management Services | 1,558,977,790 | 6.9% | 7.5% |
| Wholesale Trade | 1,447,411,241 | -2.1% | -2.3% |
| Information | 1,445,527,910 | 7.7% | 7.6% |
| Construction | 995,506,200 | -2.0% | -2.7% |
| Educational Services | 816,171,014 | 0.4% | 1.5% |
| Other Services (except Public Administration) | 706,973,648 | -1.1% | -0.8% |
| Arts, Entertainment & Recreation | 684,618,411 | 11.7% | 12.1% |
| Utilities | 580,174,277 | -2.1% | -1.5% |
| Transportation & Warehousing | 521,332,163 | -0.8% | -1.4% |
| Management of Companies and Enterprises | 464,885,726 | 5.6% | 5.8% |
| Agriculture, Forestry, Fishing & Hunting | 312,646,026 | -5.6% | -3.3% |
| Mining | 162,100,704 | 6.1% | 5.2% |
What is Vermont's Employment by Sector?
The Healthcare & Social Assistance, Retail Trade and Educational Services sectors contributed the most to employment in Vermont in 2026, representing a combined 41.1% of state employment.
Employment trends by sector are an important indicator of which sectors are growing or contracting most rapidly relative to the state economy as a whole.
| Sector | Employment | Growth 2026 | Annualized growth 2021-26 |
|---|---|---|---|
| Healthcare & Social Assistance | 57,019 | 1.9% | 1.2% |
| Retail Trade | 47,572 | 0.5% | 1.4% |
| Educational Services | 43,232 | -1.0% | 1.5% |
| Accommodation & Food Services | 32,678 | -0.4% | 5.0% |
| Manufacturing | 32,179 | 0.7% | 0.9% |
| Transportation & Warehousing | 25,953 | 5.9% | 5.5% |
| Construction | 22,414 | 1.3% | 1.7% |
| Professional, Scientific & Technical Services | 20,360 | 2.0% | 2.1% |
| Administration, Business Support and Waste Management Services | 15,926 | 2.1% | 6.5% |
| Other Services (except Public Administration) | 12,240 | 0.7% | 2.5% |
| Finance & Insurance | 11,282 | 0.4% | -0.7% |
| Wholesale Trade | 10,465 | 0.5% | -1.2% |
| Arts, Entertainment & Recreation | 9,572 | 0.7% | 2.0% |
| Real Estate & Rental & Leasing | 7,724 | 2.0% | 2.2% |
| Information | 7,430 | 1.4% | -0.9% |
| Utilities | 1,632 | 2.5% | 0.9% |
| Agriculture, Forestry, Fishing & Hunting | 1,283 | -0.2% | -1.4% |
| Mining | 663 | 1.8% | 2.9% |
State economic profile
Vermont Employment Trends
359.6k
Employment
2.9%
Unemployment
What Employment Trends are Impacting Vermont?
The state of Vermont employs 359,624 people in 2026, which ranks it 48th out of all 50 US states. Employment in Vermont has grown at an annualized rate of 2.0% over the five years to 2026, overperforming the national average of 1.7%. Major sectors by employment in Vermont include Healthcare & Social Assistance, Retail Trade and Educational Services, which employed 57,019, 47,572 and 43,232 people in 2026, respectively. Vermont's unemployment rate is 2.9% in 2026, which ranks it 3rd out of all 50 US states. Vermont's unemployment rate has trended downwards at a rate of -4.2% over the five years to 2026, overperforming the US economy as a whole.
Employment trends indicate the degree of tightness or slack in labor markets, in addition to the overall strength of an economy. Faster employment growth typically indicates a strong and growing economy, while lower unemployment tends to imply tightness in labor markets.
You can track unemployment trends in Vermont, and compare them to the US economy, using the chart below.
$90.2k
Per capita disposable income
What is Vermont's Per Capita Disposable Income?
Per capita disposable income, also known as disposable personal income (DPI), is the amount of money that the average person in an economy has available for spending and saving after accounting for income taxes. Vermont's DPI in 2026 was $90.2k, compared to the US average of $156.5k, which places it 39th out of all 50 US states.
Disposable income is regarded as a key economic indicator as trends in disposable income are indicative of the level of aggregate demand, the state of labor markets and the financial strength of households.
You can track trends in Vermont's per capita disposable income, and compare it to the US average, using the chart below.
State economic profile
Vermont Construction & Building Trends
$560.4tn
Nonresidential construction
$726.3b
Residential construction
2,470
Building permits
What can construction trends tell you about a state’s economy?
In Vermont, non-residential construction was $560.4tn in 2026, which ranks it 26th out of all 50 US states. Residential construction was $726.3b in 2026, which places Vermont 48th out of all 50 US states. The number of building permits issued in Vermont in 2026 was 2,470, representing a 2.8% annualized growth rate between 2021 and 2026.
Trends in the construction sector are important because it creates jobs, income and tax revenue for a state. In addition, construction sector activity impacts other sectors in its supply chain, including manufacturing, wholesaling, warehousing, transportation, and real estate, rental and leasing services. Therefore, construction trends are important indicators of the health of an economy.
You can track trends in the number of building permits issued in Vermont, and compare it to trends in the number issued in the United States as a whole, using the chart below.
State economic profile
Vermont Population Statistics
Which Counties in Vermont have the Largest Populations?
The counties with the highest populations in Vermont are Chittenden County, Washington County and Rutland County, which had populations of 170,262, 60,381 and 59,914 people in 2026.
| Region | 2026 population | Annual growth 2021-26 | Share of population |
|---|---|---|---|
| Chittenden | 170.3k | 0.2% | 26.2% |
| Washington | 60.4k | 0.1% | 9.3% |
| Rutland | 59.9k | -0.2% | 9.2% |
| Windsor | 58.1k | N/A | 8.9% |
| Franklin | 51.9k | 0.6% | 8.0% |
| Windham | 46.0k | N/A | 7.1% |
| Addison | 38.1k | 0.3% | 5.9% |
| Bennington | 36.9k | -0.2% | 5.7% |
| Caledonia | 30.8k | 0.2% | 4.7% |
| Orange | 30.4k | 0.5% | 4.7% |
| Orleans | 27.5k | N/A | 4.2% |
| Lamoille | 26.1k | N/A | 4.0% |
| Grand Isle | 7.5k | 0.3% | 1.2% |
| Essex | 6.1k | 0.3% | 0.9% |
State economic profile
Vermont Demographics
In Vermont, 46.8% of the population has a Bachelors or higher. The largest ethnic group in Vermont is White, accounting for 90.3% of the state's population.
Education level in Vermont
| Education level | Share (%) |
|---|---|
| Bachelors or higher | 46.8 |
| Other | 53.2 |
Race in Vermont
| Race | Share (%) |
|---|---|
| White | 90.3 |
| Hispanic | 2.9 |
| Asian | 2.5 |
| Other | 2.5 |
| Black | 1.8 |
Vermont State industry reports
IBISWorld State Industry Reports help you quickly understand how an industry performs at the state level compared with the national level, with accurate and unbiased industry information with a local focus. Use this collection to:
- Discover key local industry trends
- Identify threats and opportunities at the subnational level
- Inform your business strategies and planning
See our list of 607 Vermont industry reports.
Other states to explore
Compare Vermont’s economy with other states in the United States.
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