Friday, October 21, 2016

Virginia unemployment up slightly in September – labor force expands

The unemployment rate ticked up slightly as more people enter Virginia’s labor force. The labor force expanded for the second consecutive month, increasing by 19,690 or .5 percent as both the number of people reporting that they were working and number of people seeking work increased.

Roanoke Metropolitan Statistical ares lost 700 jobs for September but over the year gained 2,000 jobs. Northern Virginia was up 32,100 jobs.

“Today’s announcement is an important indicator in our efforts to build the new Virginia economy,” said Governor McAuliffe. “With a new record high nonfarm employment, we know there are more jobs available here in the Commonwealth.”

Virginia’s seasonally adjusted unemployment rate was up 0.1 percentage point in September to 4.0 percent, but was down 0.2 percentage point from last September. Household employment rose by 13,472, or 0.3 percent, after declining the previous six months, and the number of unemployed rose by 6,218, or 3.8 percent. Virginia’s seasonally adjusted unemployment rate continues below the national rate, which was up 0.1 percent in September to 5.0 percent. CLICK TO ENLARGE.

unemployment-msa

Jobs were down in Government, (Federal and Local) (-1,100), manufacturing (-900), Education and Health (-200), Information (-300). Gains were made in Professional and Business Services (3,100), Trade, Leisure and Hospitality Services (5,800), Transportation and Utilities (2,700), and Construction (1,700). READ MORE HERE.

In September, five metropolitan areas experienced over-the month job gains, while four metropolitan areas experienced employment declines. The largest absolute job gain occurred in the Northern Virginia metropolitan area, with a gain of 5,300 jobs. The Virginia Beach Norfolk-Newport News metropolitan area experienced the next largest gain, adding 2,500 jobs. The other metropolitan areas that experienced job gains were: Charlottesville (+700 jobs), Winchester (+500 jobs), and Harrisonburg (+200 jobs). The largest absolute job loss occurred in the Blacksburg-Christiansburg-Radford metropolitan area, with a loss of 1,100 jobs. The other three metropolitan areas that experienced losses were: Lynchburg, Richmond, and Roanoke, with losses of 700 jobs each.

Over the year, seasonally adjusted total nonfarm employment increased in seven metropolitan areas, decreased by 600 jobs in the Lynchburg metropolitan area, and remained unchanged in the Blacksburg-Christiansburg-Radford metropolitan area. The Northern Virginia metropolitan area experienced the largest absolute job gain, up 32,100 jobs, or 2.3 percent. Richmond was ranked second, with a job gain of 19,500 jobs, or 3.0 percent, and Charlottesville was ranked third, with a job gain of 4,600 jobs, or 4.1 percent. The other metropolitan areas with over-the-year job gains were: Virginia Beach Norfolk-Newport News (+4,100 jobs), Winchester (+2,300 jobs), Roanoke (+2,000 jobs), and Harrisonburg (+100 jobs).

Posted By Valerie Garner

Categories: Business, Local Events

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