Unemployment

Governor Northam Announces Virginia’s Unemployment Rate Drops for 15 Straight Months, to 4.0 Percent in August

 

Virginia outpaces the nation in economic recovery

RICHMOND—Governor Ralph Northam today announced that Virginia’s seasonally adjusted unemployment rate dropped to 4.0 percent in August, 3.0 percentage points below the rate from one year ago.

The labor force increased by 5,550 to 4,247,321, as the number of unemployed residents decreased by 7,678 to 168,515. The number of employed residents rose by 13,228 to 4,078,806. In August 2021, Virginia saw over-the-year job gains of 2.2 percent. Virginia’s seasonally adjusted unemployment rate continues to be below the national rate of 5.2 percent.

“Virginia’s economic recovery continues to outpace the nation," said Governor Northam. “Our unemployment rate remains well below the national average and has fallen consistently every month for the past fifteen months. More people are working and businesses are continuing to flock to our Commonwealth—even with the ongoing threat of COVID-19. I'm proud of our roaring economic growth, and I look forward to seeing these trends continue."

“This month’s declining unemployment rate is made possible through the hard work and determination of Virginia’s workers and employers, who are the true champions of economic recovery in the Commonwealth,” said Secretary of Labor Megan Healy. “While we have more work to do, we can all be proud of how far we've come.”

“The overall trend in the unemployment rate we see is very encouraging, as the number of jobs being added to payrolls across Virginia continues to increase,” said Secretary of Commerce and Trade Brian Ball. “The trends are clear—businesses are hiring and folks are getting back to work.”

In August, private sector employment increased by 1,500 jobs to 3,208,700, and employment in the public sector gained 9,000 jobs to 704,500. Total nonfarm payroll employment increased by 10,500 jobs in August. Compared to a year ago, on a seasonally adjusted basis, nine of eleven major industry divisions experienced employment gains. The largest over-the-year job gain occurred in leisure and hospitality, up 37,100 jobs or 12 percent. The next largest over-the-year job gain occurred in professional and business services, up 20,600 jobs or 2.7 percent. Trade and transportation experienced the third-largest over-the-year job gain of 16,600 jobs or 2.6 percent.

For a greater statistical breakdown, visit the Virginia Employment Commission’s website.

Governor Northam Announces Virginia’s Unemployment Rate Dropped Again, Falling to 4.3 Percent in June

Payroll employment increased by 3,200 jobs

RICHMOND—Governor Ralph Northam today announced that Virginia’s unemployment rate dropped 0.2-percentage point to 4.3 percent in June, compared to 8.8 percent one year ago. The seasonally adjusted unemployment rate in the Commonwealth continues to be below the national rate of 5.8 percent.

“Virginia’s falling unemployment rate and expanding labor force show the strength of our economy and business climate,” said Governor Northam. “We continue to be recognized as best place in America to do business because we are building a Commonwealth where both workers and employers can thrive. We can all be optimistic about what the future holds as we move beyond this pandemic.”

Virginia had the fourth lowest seasonally adjusted unemployment rate among the Southeast states behind Alabama, Oklahoma, and Georgia.

“The Commonwealth’s positive job growth and falling unemployment rate are welcome signs that workers are finding safety and opportunity in the job market,” said Secretary of Labor Megan Healy. “I look forward to maintaining this positive momentum in partnership with our business and workforce development partners, who are working diligently to ensure Virginians have all the support they need to transition back into employment.”

“Another drop in the Commonwealth’s unemployment rate is a great way to conclude this exciting week,” said Secretary of Commerce and Trade Brian Ball. “We expect to see continuing job growth in the coming months.”

In June, Virginia saw over-the-year job gains of 2.8 percent, and total nonfarm payroll employment increased by 3,200 jobs. The labor force increased by 4,343 to 4,234,360, as the number of unemployed residents decreased by 5,448 to 183,799. The number of employed residents rose by 9,791 to 4,050,561.

The private sector recorded an over-the-year gain of 179,900 jobs, and employment in the public sector added 10,500 jobs. Compared to a year ago, on a seasonally adjusted basis, 10 of 11 major industry divisions experienced employment gains. The largest over-the-year job gain occurred in leisure and hospitality, up 67,200 jobs, or 25.5 percent. The next largest over-the-year job gain occurred in trade and transportation, up 40,100 jobs, or 6.5 percent. Professional and business services experienced the third largest over-the-year job gain of 26,300 jobs, or 3.5 percent.

For a greater statistical breakdown, visit the Virginia Employment Commission’s website at vec.virginia.gov.

Governor Northam Announces Virginia’s Unemployment Rate Fell to 5.1 Percent in March

Payroll employment increased by 800 jobs

RICHMOND—Governor Ralph Northam today announced that Virginia’s unemployment rate decreased 0.1-percentage point to 5.1 percent in March, which is down 6.2 percentage points from its peak of 11.3 percent in April 2020. The Commonwealth’s seasonally adjusted unemployment rate continues to be below the national rate of 6.0 percent.

“Virginia’s unemployment rate is steadily improving and we are making real progress in safely reopening our economy,” said Governor Northam. “While we have made great strides in our recovery, we know there is still more work to do. We will continue to focus our efforts bringing more Virginians into the workforce and supporting families, businesses, and communities with the resources they need to build back stronger.”

Total nonfarm payroll employment increased by 800 jobs in March. The labor force increased by 1,618 to 4,238,239, as the number of unemployed residents decreased by 5,051. The number of employed residents rose by 6,669 to 4,023,563. In March 2021, Virginia saw over-the-year job losses of 4.4 percent.

“As more and more Virginians receive vaccines, we get closer to ending this pandemic, and our economy becomes stronger,” said Secretary of Commerce and Trade Brian Ball. “Despite a tough year, companies have continued to expand and create new jobs in Virginia thanks to our strong business climate and world-class workforce.”

“Virginia’s workers and businesses have faced many challenges during the COVID-19 pandemic, but their resolve and perseverance has helped overcome them,” said Chief Workforce Development Advisor Megan Healy. “The growing rate of vaccinations gives us confidence that this downward trend will continue in the months ahead. We will keep working diligently to assist Virginians with job training programs and help them gain employment in a changing, post-pandemic job market.”

In March, the private sector recorded an over-the-year loss of 145,200 jobs, while employment in the public sector lost 36,800 jobs. Compared to a year ago, on a seasonally adjusted basis, all 11 major industry divisions experienced employment decreases. The largest over-the-year job loss occurred in leisure and hospitality, down 76,600 jobs, or 18.8 percent. The next largest over-the-year job loss occurred in government, down 36,800 jobs, or 5.0 percent. Local government employment fell by 30,700 jobs and state government employment was down 7,400 jobs, while the federal government added 1,300 jobs. Education and health services experienced the third largest over-the-year job loss of 22,100 jobs, or 4.0 percent.

For a greater statistical breakdown, visit the Virginia Employment Commission’s website at vec.virginia.gov.

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