State’s unemployment rate rose in October
Virginia’s unemployment rate rose in October to 4.2 percent.
The jobless rate rose two-tenths of a percentage during the month, according to the Virginia Employment Commission. Virginia’s unemployment rate in October last year also was 4.2 percent.
Nationally the unemployment rate for October was 4.9 percent, down one-tenth of a percentage point from September.
The numbers are seasonally adjusted, meaning they take into account seasonal fluctuations in the labor market.
Virginia’s October jobless rate tied with Maryland as the 16th lowest in the nation, according to the federal Bureau of Labor Statistics. The Old Dominion also tied for sixth among states east of the Mississippi River.
VEC said Virginia’s labor force expanded for the third consecutive month, by 27,000 workers as the number of people working and seeking work increased. The number of unemployed people rose by 8,066 during the month, or 4.8 percent.
Virginia’s seasonally adjusted nonfarm employment increased by nearly 5,000 jobs during October to 3,948,700, the fifth consecutive month that it has increased.
Private-sector employment rose by 8,200 jobs during the month to 3.24 million. Public payrolls fell by 3,300 jobs to 712,700.
Employment increased in four major industrial areas during October. The biggest gain was in professional and business services, up nearly 7,000 jobs to 731,800.
In the past 12 months, Virginia has gained 67,300 jobs, an increase of 1.7 percent. Northern Virginia accounted for 28,000 jobs while the Richmond area contributed 12,400.