RICHMOND — According to a release from the Virginia Employment Commission from last week, Virginia’s seasonally adjusted unemployment rate decreased in August to 2.6%, which is 1 percentage point below the rate from a year ago.
According to household survey data in August, the labor force decreased by 7,142 to 4,346,858 as the number of unemployed residents decreased by 1,956 to 114,103. The number of employed residents dropped by 5,186 to 4,232,755. Virginia’s seasonally adjusted unemployment rate continues to be below the national rate, which rose to 3.7%.
The commonwealth’s labor force participation rate edged lower to 63.7% in August. The labor force participation rate measures the proportion of the civilian population age 16 and older that is employed or actively looking for work.
Virginia’s nonagricultural employment, from the monthly establishment survey, rose by 16,700 jobs in August to 4,085,300. July’s preliminary estimate was revised down by 2,200, subtracting from that month’s job gain. In August, private sector employment increased by 7,400 jobs to 3,361,900 while public sector employment climbed by 9,300 to 723,400. Increases within that sector occurred in local government (+8,700 jobs), federal government (+300 jobs) and state government employment (+300 jobs).
Employment rose in eight of 12 major industry sectors, was unchanged in one, and declined in two. The largest job gain during August occurred in government employment, with an increase of 9,300 jobs to 723,400. The second largest increase occurred in miscellaneous (+2,400 jobs) to 188,000. Education and health services was third, with a gain of 2,100 jobs, rising to 568,600. Other increases included professional and business services (+1,900 jobs) to 795,100, manufacturing (+1,600 jobs) to 239,400, trade, transportation, and utilities (+1,600 jobs) to 670,900, construction (+700 jobs) to 205,800, and information (+400 jobs) to 70,400. Mining and Logging was unchanged at 7,500. The largest job loss during August occurred in leisure and hospitality (-2,400 jobs) to 410,300. The second largest decrease occurred in finance, with a decrease of 900 jobs to 205,900.
-The Salem Times-Register
