Virginia unemployment rate drops to 4.3 percent in September

economic-forecast-headerGovernor McAuliffe announced today that Virginia’s seasonally adjusted unemployment rate decreased 0.2 percentage point in September to 4.3 percent, the third consecutive monthly decline.

At 4.3 percent, the seasonally adjusted unemployment rate is at its lowest level since September 2008 when it was also 4.3 percent. Virginia’s seasonally adjusted unemployment rate remains below the national rate, which was unchanged in September at 5.1 percent.

September was the 18th consecutive month of year over year employment growth in the Commonwealth.

Virginia had the lowest seasonally adjusted unemployment rate among the Southeast states and was tied with Wisconsin for the third best rate among the states east of the Mississippi.

The average weekly wage for private employers was $919.45 in September, 4.6 percent above a year ago.

“I am proud of the progress we are making creating new economic opportunities for families across the Commonwealth,” said Governor McAuliffe. “These new jobs numbers are a sign of genuine economic growth all over Virginia – but sequestration and congressional dysfunction still threaten our Commonwealth. As we prepare for another legislative session, my team and I are committed to continuing our progress by investing in education, health care, transportation and other essential elements of a new Virginia economy.”

“The continued improvement in the unemployment rate reflects the strong job growth in the private sector,” said Secretary of Commerce and Trade Maurice Jones added.  “We need to continue to make the investments and changes necessary to support that private sector growth.  Additionally, these numbers tell us that achieving balance and working on growth in all regions of the Commonwealth is still an opportunity we must seize for diversifying Virginia’s economy.”

From September of 2014 to September of 2015, Virginia’s seasonally adjusted total nonfarm employment was up 36,700 jobs. Over the year, employment grew 1.0 percent. For the past four months, employment has increased by 1.0 percent or slightly higher compared to a year ago. Over-the-year September job gains were recorded by both the private sector, which grew by 35,400 jobs, and the public sector, which grew by 1,300 jobs. Compared to a year ago, on a seasonally adjusted basis, 9 of the 11 major industry divisions experienced employment gains.

For a greater statistical breakdown visit the Virginia Employment Commission’s website atwww.vec.virginia.gov.

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