Virginia’s unemployment rate continues to decline

Commonwealth News

RICHMOND, Va. (WFXR) — For the third consecutive month, the number of unemployed Virginians dropped as most major industries continued to expand.

According to the Virginia Employment Commission (VEC), October saw 2,368 newly-employed Virginia residents, which dropped the Commonwealth’s seasonally adjusted unemployment rate to 2.6 percent.

Virginia’s current seasonally-adjusted unemployment rate is 0.1 percentage point lower than it was a month ago, 0.2 percentage point lower than it was a year ago, and 1 percentage point lower than the national unemployment rate of 3.6 percent.

The VEC reports that Virginia does not only have the lowest unemployment rate in the Southeast, but it is also the second lowest for states east of the Mississippi and the fourth lowest in the U.S.

“Virginia’s economy is headed in the right direction,” said Gov. Ralph Northam (D-Va.). “The competition for talent is on, because low unemployment gives workers more options about where to work. Next month, we will put forward a budget that continues investing in workforce development to ensure long-term, shared economic growth in our Commonwealth.”

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