Virginia’s April unemployment drops to 3.3 percent
- May 18, 2018
Virginia’s unemployment rate dipped to 3.3 percent in April, its lowest level in nearly a decade.
The Virginia Employment Commission (VEC) said Friday that the state’s jobless rate declined by one-tenth of a percentage point from March. The 3.3 percent rate has not been seen in Virginia since December 2007.
The April 2018 rate also represented a half-percentage point drop from April 2017. The national unemployment rate for April was 3.9 percent.
The VEC numbers are seasonally adjusted, meaning that they take into account seasonal fluctuations in the labor market.
In April, the labor force expanded by 5,735 workers, the third consecutive monthly increase. At 4,331,079 workers, the labor force is at a new record high.
Virginia’s nonfarm employment increased by 4,700 jobs in April to 3,993,700, the fourth consecutive monthly increase and also a new record high.
The number of unemployed workers continued to drop in April, declining 3,003 to 143,991.
From March to April, employment increased in eight major industry divisions and fell in three others.
The largest job gain during April occurred in the private education and health services sector, which increased by 2,600 jobs to 538,600.
The three losses were: 800 jobs each in construction and miscellaneous services to 200,900 and 205,100, respectively, and 600 jobs in total government to 715,300.