Virginia’s unemployment rate falls again
Virginia’s seasonably adjusted unemployment rate fell in April to its lowest point in almost eight years, according to the Virginia Employment Commission.
The commonwealth’s unemployment rate reached 3.9 percent, down one-tenth of a percentage point from March and seven-tenths of a percentage point from a year ago. Virginia’s unemployment rate has been trending downwards since September 2011 and is at its lowest point since June 2008.
The seasonably adjusted rate accounts for seasonal fluctuations in the jobs market. Virginia’s rate remains below the national rate of 5 percent.
In April, the number of unemployed fell by 5,957 people in Virginia, and the labor force contracted as well, declining by 13,472 or 0.3 percent.
In April, nonfarm employment decreased by 12,000 jobs to a total of 3.9 million. However, April’s job loss followed a job gain of 17,600 jobs the previous two months.
During the month, government employment fell by 2,000 jobs. Employment also fell in the finance, manufacturing and miscellaneous services sectors.
Employment grew by 1,500 jobs in the private education and health services industry and by 1,000 jobs in the trade and transportation category. Employment remained unchanged in the leisure and hospitality, information and mining sectors.