Virginia’s seasonally adjusted unemployment rate was unchanged in August at 5.9 percent, but was down 0.5 percentage point from August a year ago.
The seasonally adjusted unemployment rate appears to be following a pattern similar to last year when the rate ticked up in June and July, following a downward trend of several months, then was unchanged in August. This month, the number of unemployed was essentially unchanged; however, the labor force contracted by 12,097, as the place-of-residence job count fell by 12,117.
Virginia’s seasonally adjusted unemployment rate is below the August national rate of 8.1 percent, which was down 0.2 percentage point this month.
Virginia’s unadjusted unemployment rate decreased 0.3 percentage point in August to 5.8 percent and was 0.7 percentage point below the August 2011 rate. August is a transition month between the summer and fall labor markets.
The civilian labor force, total employment, and the number of unemployed normally decline in August as students quit their summer jobs to return to college and local school systems experience their lowest employment levels of the year before school resumes in the fall.
Virginia’s not seasonally adjusted unemployment rate continues below the national unadjusted rate, which decreased to 8.2 percent in August from 8.6 percent in July.
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