Unemployment rate lowered to 4% in August
Richmond, Virginia – Gov. Ralph Northam said on Friday that the state’s labor force grew to 4,247,321, lowering the seasonally adjusted unemployment rate to 4% in August.
According to the data, the number of employed people increased by 13,228 to 4,078,806 people.
“Virginia’s economic recovery continues to outpace the nation. 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,” said Northam.
The Commonwealth witnessed job growth of 2.2 percent year over year, which is lower than what was recorded previous month. The seasonally adjusted unemployment rate in Virginia is lower than the national average of 5.2 percent.
“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. While we have more work to do, we can all be proud of how far we’ve come,” Secretary of Labor Megan Healy said.
According to officials, private sector employment grew by 1,500 jobs to 3,208,700, while public sector employment increased by 9,000 jobs to 704,500. Meanwhile, nonfarm payroll employment increased by 10,500 jobs in August.
The leisure and hospitality sector added 37,100 jobs, or 12%, during the year, which is more than any industry.