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Virginia unemployment holds at 5.9 percent

Virginia’s seasonally adjusted unemployment rate remained at 5.9 percent for the third consecutive month, but was down 0.4 percentage point from September a year ago. The number of unemployed decreased by 1,480, while the labor force increased by 10,463, as an additional 11,943 people reported that they were working. However, the changes this month in the number of unemployed and household employment were not large enough to cause the unemployment rate to fall. Virginia’s seasonally adjusted unemployment rate is below the September national rate of 7.8 percent, which was down 0.3 percentage point this month.

Virginia’s unadjusted unemployment rate decreased 0.2 percentage point in September to 5.6 percent and was 0.7 percentage point below the September 2011 rate. The unadjusted unemployment rate usually declines in September, with the start-up of public and private schools and colleges. The number of unemployed dropped by 7,262, or 2.9 percent, while the labor force expanded by 5,319, as the household survey reported an increase of 12,581 jobs. Virginia’s not seasonally adjusted unemployment rate continues below the national unadjusted rate, which decreased to 7.6 percent in September from 8.2 percent in August.

The number of Virginians receiving a regular unemployment benefit payment was 49,583 in September 2012, which was down from 50,604 in August 2012 and down from 52,137 in September 2011. Cumulative initial claims for September 2012 totaled 23,398, compared to 27,127 in August 2012 and 30,145 in September 2011.

Augusta Health Augusta Free Press Kris McMackin CPA
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Augusta Free Press