Virginia jobless rate remained unchanged in August at 5.9 percent
- September 21, 2012
Virginia’s seasonally adjusted unemployment rate remained unchanged in August at 5.9
Nonetheless, the August rate was a half percentage point lower than August 2011, according to the Virginia Employment Commission.
The seasonally adjusted rate takes seasonal fluctuations in the labor market into account.
The unemployment rate appears to be following a pattern similar to last year, the VEC said. A year ago, the jobless rate rose in June and July after a downward trend of several months, then was unchanged in August.
In August 2012, the number of unemployed was essentially unchanged, but the labor force contracted by
Virginia’s seasonally adjusted unemployment rate is below the August national rate of 8.1 percent.
Meanwhile, the state’s unadjusted unemployment rate decreased three tenths of a percentage point in August to 5.8
percent and was seven tenths of a percentage point below the August 2011 rate.
The VEC said August is a transition month between the summer and fall labor markets. The civilian labor force, total employment, and the
number of unemployed normally decline in August as students quit their summer jobs to return to
college and local school systems experience their lowest employment levels of the year before school
resumes in the fall.
The number of Virginians receiving a regular unemployment benefit payment was 50,604 in
August 2012, which was down from 52,216 in July 2012 and down from 54,043 in August 2011.
Cumulative initial claims for August 2012 totaled 27,121, compared to 30,922 in July 2012 and
34,152 in August 2011.