Virginia unemployment rises slightly

Published September 20, 2016 by Robert Powell, III

Virginia’s unemployment rate rose slightly in August to 3.9 percent.

The August number represents an increase of two-tenths of a percentage point from July’s rate of 3.7 percent.

The unemployment rate is seasonally adjusted, meaning that the numbers take into account seasonal fluctuations in the labor force.

While up from July, August’s jobless rate was three-tenths of a percentage point lower than the rate posted 12 months before in August 2015.

Virginia’s unemployment rate also is a full percentage point lower than the national jobless rate for August, 4.9 percent.

During the month, the number of unemployed rose by 5,805 people.

The commonwealth’s seasonally adjusted nonfarm employment rose by 13,100 jobs in August to a total of 3,933,200.

August’s increase represents the third consecutive monthly rise and set a record high for nonfarm employment.

During the month, employment increased in nine major industry sectors and fell in two others.

The biggest increase occurred in professional and business services, up 3,100 jobs to a total of 723,000, a new record high.

The two sectors losing jobs during the month were information and mining, which each lost 100 jobs to 69,200 and 8,200 jobs, respectively.

Virginia has gained 72,500 jobs in the past 12 months, an increase of 1.9 percent.

The biggest gains have taken place in Northern Virginia, 26,000 jobs (up 1.9 percent), and the Richmond area, 24,200 jobs (an increase of 3.7 pecent).