Virginia – Governor Glenn Youngkin has announced that Virginia continues to see significant job growth, with the state’s seasonally adjusted unemployment rate remaining impressively low at 2.8% in April. This figure not only stays under the 3.0 percent mark but also shows a slight improvement from the previous month, being 0.1 percentage points lower. This rate is notably 1.1 percentage points below the national rate, which saw a slight increase to 3.9 percent.
The Bureau of Labor Statistics’ Local Area Unemployment Statistics (LAUS), also known as the household survey, indicates that non-farm payroll employment in Virginia grew by 3,400 over the month.
Governor Youngkin expressed enthusiasm about the positive trend: “Our goal since day one has been for more Virginians to hear the words ‘you are hired,’ and each new job created represents a step toward a stronger Commonwealth and a promising future for all Virginians.” He attributed the state’s robust job growth as a key factor that enabled the passing and signing of a bipartisan budget earlier this week. This budget is set to make historic investments in critical areas like childcare for working families, behavioral health, and education.
Virginia’s labor market statistics are also encouraging, with the number of employed Virginians rising by 517 to a total of 4,455,081, marking an increase of over 204,000 employed residents since January 2022. However, the labor force saw a slight decrease of 4,375, bringing it down to 4,584,350. Concurrently, the labor force participation rate dropped to 66.4 percent, with the number of unemployed residents decreasing by 4,892 to 129,269. This rate measures the proportion of the civilian population aged 16 and older that is employed or actively seeking employment.
Secretary of Labor Bryan Slater commented on the economic outlook, noting, “Continued employment growth and a sustained low unemployment rate signals resilience in our economy, paving the way for more robust job creation ahead.”
Secretary of Commerce Caren Merrick echoed this sentiment, focusing on the state’s commitment to enhancing the labor market: “Our focus remains on creating a strong labor market where every Virginian can find opportunities to thrive and contribute. We continue to be aggressive in attracting, expanding, and supporting new businesses in the Commonwealth.”
The report also distinguished between the LAUS and the Current Employment Statistics Survey (CES) from BLS. While LAUS is based on household interviews providing comprehensive data on the labor force, the CES uses payroll records to provide a count of jobs, excluding business owners, self-employed persons, and others not covered by unemployment insurance.
For further information on Virginia’s labor market and additional details on the state’s employment statistics, individuals and interested parties are encouraged to visit the Virginia Works LMI website at virginiaworks.com.
