The number of employed Virginians remained above 4.2 million workers in October 2022. According to BLS Local Area Unemployment Statistics (“LAUS”, or “the household survey”), the labor force in Virginia increased by 1,162 to 4,348,072. According to LAUS, the number of employed residents decreased in October by 2,503 to 4,231,191.
Since January, 92,673 more Virginians are employed. Virginia’s unemployment rate of 2.7 percent edged up 0.1 percent from September and is one percentage point below the national rate, which rose to 3.7 percent in October. Throughout the month, the number of unemployed residents increased by 3,665 to 116,881.
“We continue to see economic indicators at the state level and nationally delivering mixed messages, but we should be encouraged by the slight pickup in establishment jobs in October,” said Governor Glenn Youngkin. “We must remain vigilant in creating the environment for businesses to start, invest and grow in the Commonwealth and get more Virginians off the sidelines and into the workforce.”
The Commonwealth’s labor force participation rate, which measures the proportion of the civilian population age 16 and older that is employed or actively looking for work, was unchanged at 63.6 percent in October from September revised rate.
“While household employment shows modest declines, the Commonwealth continues to add establishment jobs month after month, and our unemployment rate remains low – a full percentage point lower than nationwide in October,” said Secretary of Labor Bryan Slater. “In this environment, Virginia offers great opportunities for its citizens to succeed in a career, regardless of skill level or background.”
“The unemployment rate has been in a narrow range of 2.6 to 2.8 percent for several months,” said Secretary of Commerce and Trade Caren Merrick. “However, there are many great jobs still waiting to be filled across the Commonwealth and we remain focused on getting Virginians back in the labor market”