Virginia unemployment rises slightly
Virginia’s unemployment rate rose slightly in July to 3.8 percent.
The Virginia Employment Commission said Friday that while the jobless rate rose one-tenth of a percentage point the commonwealth’s labor force expanded for the 16th consecutive month, rising 6,087 workers to 4.32 million a record high.
July’s jobless rate was three-tenths of a percentage point below the level seen 12 months before in July 2016. Virginia’s unemployment rate also was below the national rate for July, 4.3 percent.
The numbers in VEC’s report are seasonally adjusted, meaning they take into account seasonal fluctuations in the labor force.
While the labor force set a new record in July, so did the commonwealth’s nonfarm employment, increasing by 8,300 jobs to 3.98 million. Nonfarm employment has increased by 60,300 jobs in the past 12 months.
Seasonally adjusted employment rose in five major industry sectors during July while falling in three areas and remaining unchanged in three more.
The biggest jobs gain occurred in professional and business services, which rose 4,700 jobs to a total of 740,300.
The largest decrease came in the finance sector, down 1,800 jobs to 203,800.
Employment remained unchanged in trade and transportation , 664,700 jobs; miscellaneous services, 200,600; and mining, 7,700.