Virginia jobless rate rose in March

Published April 21, 2015 by Robert Powell, III

Virginia’s unemployment rate rose one-tenth of a percentage point in March to 4.8 percent, according to the Virginia Employment Commission.

The March jobless rate saw its first uptick in several months. February’s rate, 4.7 percent, was unchanged from January.

That figure represented the lowest unemployment recorded by the VEC since October 2008.

The March 2015 rate was down a half percentage point from the same month last year.

All figures are seasonally adjusted, meaning they have been adjusted to accommodate seasonal fluctuations.

The VEC said unemployment rose slightly because the number of unemployed workers rose while the labor force remained fairly steady.

Virginia’s seasonally adjusted nonfarm employment fell by 7,600 jobs to a total of 3,787,000. That number falls below a prerecession employment peak of 3,787,800 jobs recorded in April 2008.

From February to March, employment fell in six major industry sectors and rose in five others. The biggest decrease occurred in leisure and hospitality, down 8,500 jobs to 368,100.

The largest increase in employment occurred in professional and business services, up 2,600 jobs to 679,200.