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Virginia unemployment rate down to 5.6 percent

economic-forecast-headerVirginia’s unemployment rate fell to 5.6% in the month of November, according to data released today by the U.S. Bureau of Labor Statistics.

This is tied with March, April and May of this year for the lowest unemployment rate in the Commonwealth since December 2008. Virginia has the lowest unemployment rate in the Southeast, and is now tied with New Hampshire for the second-lowest unemployment rate east of the Mississippi River.

The unemployment rate was 7.2 percent in February 2010, the first full month of the McDonnell administration. Since Gov. Bob McDonnell took office, Virginia has added 150,500 net new jobs, the eighth highest amount in the nation.

“Working together across party lines we are creating an environment in Virginia in which the private sector can grow and create new, good paying jobs for our citizens. Job creation is the foremost priority of our administration. It’s been our focus since we took office, and will remain our focus until our last day in Richmond,” McDonnell said.

The state’s jobs picture has improved as the economic climate nationally has also improved. The national unemployment rate in November was at 7.7 percent, down more than two points from the 9.8 percent national rate registered in February 2010.

Augusta Health Augusta Free Press Kris McMackin CPA
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Augusta Free Press