Unemployment falls to 3.7 percent

Published July 21, 2017 by Robert Powell, III

Virginia’s unemployment rate dipped to 3.7 percent in June.

The Virginia Employment Commission reported on Friday that June’s rate represented the first decline after a three-month period during which the unemployment remained unchanged at 3.8 percent.

The June 2017 rate also was down three-tenths of a percentage point from the June 2016 figure, 4 percent. Unemployment now is at the lowest level in the commonwealth since April 2008.

The jobless rate numbers are based on seasonally adjusted data, meaning they take into account seasonal fluctuations in the labor market.

During June, Virginia’s labor force expanded for the 15th consecutive month to 4.31 million, a new record. Nonfarm employment increased to 9,400 jobs during the month to 3.96 million, also a record.

The national unemployment rate for June was 4.4 percent, seven-tenths of a percentage point higher than Virginia’s figure.

Employment in six Virginia industry sectors rose in June while falling in four segments and remaining unchanged in one, information.

The biggest increase occurred in the leisure and hospitality industry, which added 7,400 jobs to reach a total of 407,500.

The largest job declines occurred in two sectors — manufacturing and professional and business services — which lost 2,400 positions each. The new totals are 231,000 jobs in manufacturing and 733,100 in professional and business services.