Virginia jobless rate dips to 2.8% in August
Virginia’s unemployment rate dipped one-tenth of a percentage point in August to 2.8%, the state announced Friday.
During the month, the commonwealth’s labor force expanded for the 14th consecutive month to set a new record high of 4.4 million.
The July jobless rate was 2.9%. The rate recorded in August 2018 also was 2.8%.
The unemployment rate is stated in seasonally adjusted figures, meaning they account for seasonal fluctuations in the workforce.
Virginia’s unemployment rate continues to be below the national rate, which was unchanged in August at 3.7%.
The commonwealth has the lowest jobless rate among Southeastern states and ranks as third best among states east of the Mississippi River.
Virginia also tied Colorado and Utah as having the sixth-lowest unemployment rate in the nation in August.
During the month, Virginia’s private sector recorded an over-the-year gain of 35,500 jobs, while employment in the public sector increased by 1,200 jobs.
Compared to a year ago, eight of the 11 major industry divisions in the commonwealth experienced employment gains, while the other three saw losses.
The largest job gain during August occurred in the leisure and hospitality area, with an increase of 1,100 jobs to total employment of 418,600.
The largest loss during the month took place in the trade and transportation section, down 1,100 jobs to 651,300.