Va. unemployment rate fell less than 1% between September and October
Number of employed Virginians increased by 24K
Virginia’s seasonally adjusted unemployment rate fell by less than 1% between September and October to 5.3%, according to employment statistics released Friday by the Virginia Employment Commission — but unemployment still remains 2.6% higher than the same time last year.
The labor force fell by 0.4% to 4.27 million while the number of employed Virginians increased by more than 24,000 to 4.05 million. Non-agriculture jobs rose by 34,000 and the private sector gained 36,700 jobs. The public sector payroll lost 2,700 jobs, however.
The largest monthly job gains during October were in leisure and hospitality (adding 13,300 jobs) and trade and transportation (adding 8,400 jobs). Other sectors that saw increases included professional and business services (adding 7,600 jobs), education and health services (adding 3,300 jobs) and construction (adding 3,100 jobs), among other industries.
Government employment and finance were the only major industry sectors that reported jobs lost. There was a 3,600-worker loss in government jobs, and finance saw employment fall by 1,400.
Despite some job recovery, 10 out of the 11 major industry divisions in Virginia reported declines compared to last year. Leisure and hospitality was down by 66,100 jobs, compared to October 2019, while education and health sciences were down by 34,800 jobs. Government, professional and business services, manufacturing, trade and transportation, finance and mining also reported major losses. Construction is the only industry that was up by 6,900 jobs compared to the same period in 2019.
Regionally, the largest job increases during October happened in Northern Virginia, which added 8,100 jobs during October. The Richmond, Eastern Virginia, Roanoke, Charlottesville, Lynchburg and Winchester regions also reported job gains, while job losses were reported in the Harrisonburg area.