Virginia’s unemployment rose slightly in May

Published June 19, 2015 by Robert Powell, III

Virginia’s seasonally adjusted employment rate rose one-tenth of a percentage point in May to 4.9 percent.

The Virginia Employment Commission said Friday that, despite the increase, the jobless rate in May still was down three-tenths of a percentage point from the same month last year.

May’s unemployment rate also was lower than the national jobless rate for the month, 5.5 percent.

The figures are seasonally adjusted, meaning they take into account seasonable fluctuations in the labor market.

The VEC said labor force growth in Virginia during May exceeded household employment growth, an indication that more people are entering the workforce seeking employment.

The labor force has expanded for five consecutive months while household employment has risen in 11 of the past 12 months.

Virginia’s seasonally adjusted nonfarm employment increased by 5,900 jobs in May to 3.8 million, the second consecutive monthly gain.

Employment during the month rose in six industry divisions and fell in five others. The biggest gain occurred in two sectors: professional and business services and leisure and hospitality. Each category rose by 5,400 jobs, to 686,600 and 375,000, respectively.

The biggest decrease during May occurred in private education and health services, down 4,400 jobs to 504,400.