Advertisement

Header Utility Menu

  • Subscribe
  • Advertise
  • Contact Us
  • Events

LinkedIn Facebook Twitter Instagram Get Our App

  • Login

Virginia Business

Mobile Menu

  • Issues
  • Industries
    • Banking/Finances
    • Business Law
    • Commercial Real Estate
    • Economic Development
    • Education
    • Energy/Green
    • Federal Contracting
    • Government
    • Healthcare
    • Hotels/Tourism
    • Insurance
    • Ports/Trade
    • Small Business
    • Technology
    • Transportation
  • Regions
    • Central Virginia
    • Eastern Virginia
    • Northern Virginia
    • Roanoke/New River Valley
    • Shenandoah Valley
    • Southern Virginia
    • Southwest Virginia
  • Reports
    • Best Places to Work
    • Business Person of the Year
    • CEO Pay
    • Coronavirus 2020
    • Generous Virginians Project
    • Legal Elite
    • Most Influential Virginians
    • Maritime Guide
    • Site Locator
    • The Big Book
    • Virginia CFO Awards
  • Company News
    • For the Record
    • People
  • Opinion
  • Lists
  • Awards/Events
    • Diversity Leadership Series
    • Vote Now for Women in Leadership
    • Virginia 500
    • Legal Elite
    • CFO Awards
    • Big Book of Lists
    • 100 People To Meet
    • Best Places To Work
  • Virginia 500
    • Read the issue
    • Order a copy
    • Buy an award plaque
    • Nominate execs for 2021

Advertisement

Header Primary Menu

  • virginiabusiness.com
  • Subscribe
  • Advertise
  • About Us
  • Contact Us

Home News Business Trends Virginia jobless rate dips to 3.5 percent

Virginia jobless rate dips to 3.5 percent

Published March 23, 2018 by Robert Powell, III

Virginia's unemployment rate was 3.5 percent in February, its lowest level in nearly a decade.

The Virginia Employment Commission said the commonwealth's seasonally adjusted jobless rate fell one-tenth of a percentage point during the month.

February's number also was half a percentage point lower than the unemployment rate recorded 12 months before.

The U.S. jobless rate for February was 4.1 percent, unchanged from January.

Virginia's employment rate hasn't been this low since April 2008.

The VEC numbers are seasonally adjusted, meaning they take into account seasonal fluctuations in the labor force.

During February, the labor force expanded by nearly 4,000 workers after declining for the previous four months. The expansion pushed Virginia's total labor force to 4.3 million, a new record.

Seasonally adjusted nonfarm employment also rose by 20,800 jobs during February to 3.99 million jobs, the second consecutive increase and a new record.

The VEC said employment increased in eight industry categories during the month, while remaining unchanged in two others and falling in one more.

The biggest gain occurred in the leisure and hospitality industry, which rose by 4,900 jobs to 405,400 positions.

Finance and mining remained unchanged in February at 205,100 and 8,200 jobs, respectively. Information jobs fell by 600 positions to 67,300.

Among Virginia's metro areas, Northern Virginia gained the most jobs from February 2017 to this February, 28,600, followed by the Richmond area, 4,500, and the Charlottesville area, 3,700.

Related Stories

Virginia Business logo

Jobless rates fall in Virginia metro areas

Virginia Business logo

Unemployment falls in Virginia metro areas

IQOS shop opening in Richmond

Trending

Sponsored Stories

Why is my Less Than Truckload (LTL) freight pricing going up and my service level going down?  

Beyond Juneteenth – How Capital One is Commemorating and Implementing Change

How We Help Your Business Operate Better

Before the Breach: Get Serious About Cyber Resilience

Professionals are Discovering What it Means to Live Uniquely in the Alleghany Highlands of Virginia

Riverside Logistics Celebrates 25th Anniversary!

Girls for a Change Empowers Black Youth for the Future Workforce

The Jackson Ward Collective is equipping Black-owned small businesses with the tools for success

Advertisement

Advertisement

Trending

Sponsored Stories

Why is my Less Than Truckload (LTL) freight pricing going up and my service level going down?  

Beyond Juneteenth – How Capital One is Commemorating and Implementing Change

How We Help Your Business Operate Better

Before the Breach: Get Serious About Cyber Resilience

Professionals are Discovering What it Means to Live Uniquely in the Alleghany Highlands of Virginia

Riverside Logistics Celebrates 25th Anniversary!

Girls for a Change Empowers Black Youth for the Future Workforce

The Jackson Ward Collective is equipping Black-owned small businesses with the tools for success

Get Virginia Business directly on your tablet or in your mailbox!

Subscribe to Virginia Business

Advertisement

Advertisement

Footer Primary Menu

  • virginiabusiness.com
  • Subscribe
  • Advertise
  • About Us
  • Contact Us

Footer Secondary Menu

  • Industries
  • Regions
  • Reports
  • Company News
  • Events

Sign Up For Our Newsletter

Sign Up

LinkedIn Facebook Twitter Instagram Get Our App

Privacy Policy Cookie Policy

Footer Utility Menu

Copyright © 2023 Virginia Business. All rights reserved.

Site Maintained by TechArk