Virginia’s unemployment rate falls for fourth-consecutive month

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Virginia’s seasonally adjusted unemployment rate fell 0.1 percentage point to 5.6 percent in March, the lowest rate in the last three years.

That is 0.6 percentage point below the unemployment rate in March 2011. Virginia’s unemployment rate has fallen for four consecutive months.

Virginia remains well below the national average rate of 8.2 percent, which also fell 0.1 percentage point last month.

Virginia’s unadjusted unemployment rate was 5.7 percent in March, 0.6 percentage point below the March 2011 rate and 0.4 percentage point below the February rate. March’s employment rate typically improves as companies begin hiring for the tourist season.

The national unadjusted rate was 8.4 percent, down from 8.7 percent in February.

Initial unemployment claims also fell in March to 28,846, compared to 31,151 in February and 38,080 in March 2011.

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