RICHMOND, Virginia – Governor Glenn Youngkin announced today that the number of employed Virginians has increased to more than 4.2 million workers as of June 2022. Virginia has added nearly 94,000 employed residents since February 1. Virginia’s unemployment rate fell to 2.8% in June. This continues to be lower than the national rate, which remained unchanged at 3.6%.
According to BLS household survey data, the number of employed residents increased by 13,792 to 4,232,192. In 2022, employment growth accelerated to an average of nearly 19,000 per month, more than four times the 2021 average. The Commonwealth’s seasonally adjusted unemployment rate of 2.8% is 1.2 percentage points lower than the rate a year ago. The labor force increased by 6,250 to 4,353,465 while the number of unemployed fell by 7,542, the highest number in a year.
The Commonwealth labor force participation rate, measuring the proportion of the civilian population aged 16 and over who are employed or actively seeking work, remained unchanged at 63.8% in June.
“June’s unemployment rate falling to 2.8% is promising news for Virginia’s economic health and is a welcome return to pre-pandemic unemployment levels,” said Governor Glenn Youngkin. “In such a competitive job market, we remain committed to expanding workforce development opportunities for Virginians. Although the creation of 94,000 jobs is promising, we must remain vigilant with regard to the participation rate, which continues to lag behind. My focus is on increasing Virginia’s turnout across the Commonwealth.”
“Virginia’s economic performance continues to rebound at a healthy pace,” said Commerce and Commerce Secretary Caren Merrick. “Virginia is on track to continue adding jobs if employers can find workers to fill them. We have still lost nearly 120,000 people in our workforce since before the pandemic. »
“Virginia’s unemployment and labor force participation rates continue to top those of the country, but as the governor said, there is still work to be done,” Labor Secretary Bryan Slater said. “We continue to make progress in this area, as evidenced by the sharp decline in the number of unemployed Virginians in June.”
Virginia’s nonfarm payrolls fell by 2,700 jobs in June to 4,045,100. From June 2021 to June 2022, the VEC estimates Virginia establishments gained 123,400 jobs, an increase of 3 .1%. In June, the private sector recorded a year-over-year gain of 125,700 jobs, while public sector employment fell by 2,300 jobs.
Compared to a year ago, on a seasonally adjusted basis, nine of the eleven major industrial divisions saw employment increases while two saw employment declines. The largest job gain over the year was in the leisure and hospitality industry, up 62,300 jobs (+17.9%). The second largest job gain over the year was in education and health services, up 26,200 jobs (+4.9%). The third largest job gain over the year was in professional and business services, up 16,400 jobs (+2.1%). Other job gains occurred in trade, transportation and utilities (+9,200 jobs), miscellaneous services (+4,600 jobs), manufacturing (+4,200 jobs), information ( +3,200 jobs), construction (+500 jobs) and mining and logging. (+400 jobs). Job losses occurred in government (-2,300 jobs) and finance, with a decrease of 1,300 jobs.
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