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Virginia’s seasonally adjusted unemployment rate dropped to 4.0 percent in August, 3.0 percentage points below the rate from one year ago Gov. Ralph Northam recently announced. The labor force increased by 5,550 to 4,247,321, as the number of unemployed residents decreased by 7,678 to 168,515. The number of employed residents rose by 13,228 to 4,078,806. In August 2021, Virginia saw over-the-year job gains of 2.2 percent. Virginia’s seasonally adjusted unemployment rate continues to be below the national rate of 5.2 percent. “Virginia’s economic recovery continues to outpace the nation,” said Northam. “Our unemployment rate remains well below the national average and has fallen consistently every month for the past fifteen months. More people are working and businesses are continuing to flock to our Commonwealth—even with the ongoing threat of COVID-19. I’m proud of our roaring economic growth, and I look forward to seeing these trends continue.” “This month’s declining unemployment rate is made possible through the hard work and determination of Virginia’s workers and employers, who are the true champions of economic recovery in the Commonwealth,” said Secretary of Labor Megan Healy. “While we have more work to do, we can all be proud of how far we’ve come.” “The overall trend in the unemployment rate we see is very encouraging, as the number of jobs being added to payrolls across Virginia continues to increase,” said Secretary of Commerce and Trade Brian Ball. “The trends are clear—businesses are hiring and folks are getting back to work.” In August, private sector employment increased by 1,500 jobs to 3,208,700, and employment in the public sector gained 9,000 jobs to 704,500. Total nonfarm payroll employment increased by 10,500 jobs in August. Compared to a year ago, on a seasonally adjusted basis, nine of eleven major industry divisions experienced employment gains. The largest over-the-year job gain occurred in leisure and hospitality, up 37,100 jobs or 12 percent. The next largest over-the-year job gain occurred in professional and business services, up 20,600 jobs or 2.7 percent. Trade and transportation experienced the third-largest over-the-year job gain of 16,600 jobs or 2.6 percent.
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