Monday, August 19, 2013

Virginia unemployment rate increases for third consecutive month



The Roanoke Metropolitan Statistical Area gained 600 jobs form June 2013 to July 2013 and 2200 jobs from July 2012 to July 2013. (Preliminary)

Virginia’s seasonally adjusted unemployment rate increased 0.2 percentage point for July to 5.7 percent, the third consecutive monthly increase. This is still 0.3 percentage point below the 6.0 unemployment rate at this time a year ago. With last month’s increase in the unemployment rate, the labor force contracted; however, this month the labor force expanded slightly (+731), as the drop in household employment (-7,836) fell short of the increase in those seeking work (+8,567).Virginia’s seasonally adjusted unemployment rate continues below the July national rate of 7.4 percent, which was down from June’s 7.6 percent rate.

Virginia’s seasonally adjusted nonfarm employment increased by 1,400 jobs in July. The largest job increase during July occurred in manufacturing, up 3,300 jobs. In July, private sector employment increased by 4,100 jobs, while public sector payrolls declined by 2,700 jobs.

The largest job decrease during July occurred in professional and business services, down 2,900 jobs to 680,000. The job losses in professional, scientific, and technical services (-3,500 jobs) and management of companies (-400 jobs) outweighed the job gain in administrative and
support services (+1,000 jobs).

Virginia’s unadjusted unemployment rate decreased 0.1 percentage point in July to 5.8 percent and was 0.4 percentage point below the July 2012 rate. The unadjusted rate usually decreases from June to July as students entering the labor market who have not found summer employment leave the labor force. The number of unemployed workers decreased by 2,905, while the labor force expanded by 33,655, as the place-of residence job count increased by 36,560. Virginia’s not seasonally adjusted unemployment rate continues below the national unadjusted rate, which decreased to 7.7 percent in July from 7.8 percent in June.

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Posted By Valerie Garner

Categories: Business

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Comments (3)

Valerie Garner

August 19th, 2013 at 6:03 PM    

Still struggling to meet prerecession employment number. These are July preliminary numbers. Check out which sectors gained jobs and where jobs were lost. There is a link to detail and a chart that goes into great detail. Public sector lost jobs especially local government.

[…] Virginia unemployment rate increases for third consecutive month […]

Valerie Garner

August 19th, 2013 at 9:32 PM    

Terry I'm going to delete this so you know. It isn't working right as you can see it pulls up the wrong photo, doesn't allow sharing and doesn't seem to be on the newsfeed. Was trying a new plugin that posts comments to and from facebook/website. I'll keep tring to work out the bugs or just give up.

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