Unemployment falls to 3.6 percent
- November 17, 2017
Virginia’s unemployment rate fell to 3.6 percent in October, according to the Virginia Employment Commission.
October’s unemployment rate is one-tenth of a percentage point lower than the previous month (the second consecutive monthly decline) and five-tenths of a percentage point lower than a year ago. It also is the commonwealth’s lowest unemployment rate since the March 2008 rate of 3.6 percent.
Virginia's seasonally adjusted unemployment rate continues to be below the national rate, which was down one-tenth of a percentage point in October to 4.1 percent.
Virginia is tied with Alabama, Arkansas, and Florida for the second-lowest seasonally adjusted unemployment rate among the Southeast states, behind Tennessee. In addition, Virginia has the second-lowest unemployment rate, along with Florida, among major U.S. states behind Tennessee.
Virginia's nonfarm payroll employment is 33,700 jobs higher than it was in October 2016. Over-the-year employment growth in Virginia has been positive for 43 consecutive months.
In October, Virginia's over-the-year growth was nine-tenths of a percentage point. Nationally, total nonfarm employment was up 1.4 percent from a year ago.
In October, the private sector recorded an over-the-year gain of 36,000 jobs, while the public sector recorded an over-the-year loss of 2,300 jobs. Compared to a year ago, on a seasonally adjusted basis, eight of the 11 major industry divisions experienced employment gains.