Virginia unemployment rate back below 5 percent: Less than half of spring high mark
Virginia’s unemployment rate, which reached a high of 10.6 percent back in April, is back to less than half that, falling to 4.9 percent in November.
According to household survey data in November, the labor force expanded by 16,323, or 0.4 percent, to 4,286,658, as the number of unemployed residents fell by 12,464. The number of employed residents increased by 28,787 to 4,078,503.
Virginia’s seasonally adjusted unemployment rate continues to be below the national rate, which fell to 6.7 percent.
Virginia’s nonagricultural wage and salary employment, from the monthly establishment survey, rose by 8,100 jobs in November to 3,908,600. October’s preliminary estimates were revised upward 1,700, increasing that month’s job gains.
In November, private sector employment increased by 13,800 jobs to 3,207,400, while public sector payrolls decreased by 5,700 jobs to 701,200.
From October 2020 to November 2020, seasonally adjusted employment increased in six major industry divisions, decreased in four, and held steady in finance at 210,800 jobs.
The largest job gains during November occurred in professional and business services, with an increase of 6,800 jobs to 757,000.
The second largest job gain was in education and health services, with an increase of 3,800 jobs to 527,400.
Other employment gains included:
- construction (+3,400 jobs) to 215,400
- leisure and hospitality (+2,000 jobs) to 348,100
- trade and transportation (+900 jobs) to 653,600
- mining (+100 jobs) to 7,200
The largest job loss occurred in government employment, which dropped by 5,700 jobs in November.
For total government, a gain occurred in state government (+600 jobs), with losses in federal government (-1,600 jobs) and local government (-4,700 jobs).
Other employment losses included:
- manufacturing, (-600 jobs)
- information and miscellaneous services, both decreasing by (-1,300 jobs)