For Release:
August 17, 2018
Contact:
Conrad Buckler
Economist
Economic Information & Analytics Division
(804) 786-8264 or (804) 786-7496

Virginia’s Seasonally Adjusted Unemployment Rate Was Down 0.1 Percentage Point in July to 3.1 Percent

~ Seasonally adjusted nonfarm employment was up 12,000 jobs between June 2018 and July 2018 ~

RICHMOND - Virginia's seasonally adjusted unemployment rate decreased in July to 3.1 percent and was down 0.6 percentage point from a year ago. July's seasonally adjusted unemployment rate, of 3.1 percent, is the lowest rate since the August 2007 rate of 3.1 percent. In July, the labor force expanded by 7,790, which was the sixth consecutive monthly increase, and at 4,356,623, set a new record high. Household employment increased by 12,146, which was the seventh consecutive monthly increase, and at 4,223,275, also set a new record high. The number of unemployed continued to drop, declining by 4,356 to 133,348. Virginia's seasonally adjusted unemployment rate continues to be below the national rate, which was down 0.1 percentage point in July to 3.9 percent.

Virginia's seasonally adjusted nonfarm employment increased by 12,000 jobs in July to 4,017,400, which was the seventh consecutive monthly increase and a new record high. June's initially reported gain of 1,300 jobs was revised upward by 3,500 jobs to an over-the-month gain of 4,800 jobs. In July, private sector employment increased by 10,500 jobs to 3,303,100, while public sector payrolls also increased by 1,500 jobs to 714,300.

From June 2018 to July 2018, seasonally adjusted employment increased in seven major industry divisions, held steady in one, and decreased in the remaining three. The largest job gain during July occurred in the professional and business services sector. Employment in this sector increased by 7,100 jobs to 747,800. The second largest over-the-month gain occurred in manufacturing, with a gain of 2,100 jobs to 241,600. Total government experienced the third largest over-the-month gain, increasing by 1,500 jobs to 714,300. For total government, the loss in state government employment (-100 jobs) was outweighed by the gains in local (+1,200 jobs) and federal (+400) government employment. The remaining employment gains were: 1,200 jobs in leisure and hospitality to 411,000; 1,000 jobs in miscellaneous services to 207,500; 800 jobs in finance to 211,800; and 100 jobs in mining to 8,400. Trade, transportation, and utilities held steady at 670,300.

The largest job loss during June occurred in private education and health services. Employment in this sector fell by 900 jobs to 537,900. The second largest job loss was in the information sector at 600 to a total of 66,700. The third largest job loss was in the construction sector at 300 jobs to a total of 200,100.

Nonfarm Employment in Virginia*
Seasonally Adjusted

Industry

Employment

June 2018 to
July 2018

July 2017 to
July 2018

July
2018

June
2018

July
2017

Change

% Change

Change

% Change

Total Nonfarm

4,017,400

4,005,400

3,954,800

+12,000

+0.3%

+62,600

+1.6%

Total Private Sector

3,303,100

3,292,600

3,237,600

+10,500

+0.3%

+65,500

+2.0%

Goods-Producing

450,100

448,200

434,600

+1,900

+0.4%

+15,500

+3.6%

  Mining

8,400

8,300

8,000

+100

+1.2%

+400

+5.0%

  Construction

200,100

200,400

192,600

-300

-0.1%

+7,500

+3.9%

  Manufacturing

241,600

239,500

234,000

+2,100

+0.9%

+7,600

+3.2%

Service-Providing

3,567,300

3,557,200

3,520,200

+10,100

+0.3%

+47,100

+1.3%

Private Service-Providing

2,853,000

2,844,400

2,803,000

+8,600

+0.3%

+50,000

+1.8%

  Trade, Transportation, and Utilities

670,300

670,300

663,300

+0

+0.0%

+7,000

+1.1%

  Information

66,700

67,300

67,600

-600

-0.9%

-900

-1.3%

  Finance

211,800

211,000

206,100

+800

+0.4%

+5,700

+2.8%

  Professional and Business Services

747,800

740,700

731,200

+7,100

+1.0%

+16,600

+2.3%

  Education and Health Services

537,900

538,800

529,200

-900

-0.2%

+8,700

+1.6%

  Leisure and Hospitality Services

411,000

409,800

402,800

+1,200

+0.3%

+8,200

+2.0%

  Miscellaneous Services

207,500

206,500

202,800

+1,000

+0.5%

+4,700

+2.3%

Government

714,300

712,800

717,200

+1,500

+0.2%

-2,900

-0.4%

  Federal Government

177,800

177,400

177,600

+400

+0.2%

+200

+0.1%

  State Government

159,900

160,000

159,500

-100

-0.1%

+400

+0.3%

  Local Government

376,600

375,400

380,100

+1,200

+0.3%

-3,500

-0.9%

*Current month's estimates are preliminary.

From July 2017 to July 2018, Virginia's seasonally adjusted total nonfarm employment was up 62,600 jobs, or 1.6 percent. Over-the-year employment growth in Virginia has been positive for 52 consecutive months, and over the last several months, growth has continued to strengthen. In July, the private sector recorded an over-the-year gain of 65,500 jobs, while employment in the public sector declined by 2,900 jobs. Nationally, total nonfarm employment was up 1.6 percent from a year ago.

Compared to a year ago, on a seasonally adjusted basis, nine of the eleven major industry divisions experienced employment gains, while the other two experienced employment losses. The largest over-the-year job gain occurred in professional and business services, up 16,600 jobs (+2.3 percent). The next largest over-the-year job gain occurred in private education and health services, up 8,700 jobs (+1.6 percent). Leisure and hospitality experienced the third largest over-the-year job gain, up 8,200 jobs (+2.0 percent). Other gains were in manufacturing, up 7,600 jobs (+3.2 percent); construction, up 7,500 jobs (+3.9 percent); trade, transportation, and utilities, up 7,000 jobs (+1.1 percent); finance, up 5,700 jobs (+2.8 percent); miscellaneous services, up 4,700 jobs (+2.3 percent); and mining, up 400 jobs (+5.0 percent).

Compared to a-year-ago July, total government fell by 2,900 jobs (-0.4 percent), with the losses in local (-3,500 jobs) government employment outweighing the gains in state (+400 jobs) and federal (+200 jobs) government employment. In addition, employment in information was down 900 jobs (-1.3 percent).

Total Nonfarm Employment in Virginia*
Seasonally Adjusted

Area

Employment

June 2018 to
July 2018

July 2017 to
July 2018

July
2018

June
2018

July
2017

Change

% Change

Change

% Change

Virginia

4,017,400

4,005,400

3,954,800

+12,000

+0.3%

+62,600

+1.6%

Blacksburg-Christiansburg-
Radford MSA

77,200

77,200

76,900

+0

+0.0%

+300

+0.4%

Charlottesville MSA

121,700

121,000

116,900

+700

+0.6%

+4,800

+4.1%

Harrisonburg MSA

68,200

68,200

67,600

+0

+0.0%

+600

+0.9%

Lynchburg MSA

105,000

105,400

103,800

-400

-0.4%

+1,200

+1.2%

Northern Virginia MSA

1,487,100

1,484,800

1,460,600

+2,300

+0.2%

+26,500

+1.8%

Richmond MSA

681,600

677,000

674,200

+4,600

+0.7%

+7,400

+1.1%

Roanoke MSA

161,800

161,700

160,000

+100

+0.1%

+1,800

+1.1%

Staunton-Waynesboro MSA

50,600

50,600

49,700

+0

+0.0%

+900

+1.8%

Virginia Beach-Norfolk-
Newport News,
Virginia/North Carolina MSA

785,200

784,600

780,700

+600

+0.1%

+4,500

+0.6%

Winchester,
Virginia/West Virginia MSA

65,200

65,200

63,500

+0

+0.0%

+1,700

+2.7%

*Current month's estimates are preliminary.

Seasonally adjusted total nonfarm employment data is being produced for ten metropolitan areas. In July, five metropolitan areas experienced over-the-month job gains, one experienced job losses, while employment in the Blacksburg-Christiansburg-Radford, Harrisonburg, Staunton-Waynesboro, and Winchester metropolitan areas remained the same. The largest absolute job gain occurred in Richmond, with a gain of 4,600 jobs. The other metropolitan areas that experienced gains were: Northern Virginia (+2,300); Charlottesville (+700 jobs); Virginia Beach-Norfolk-Newport News (+600 jobs); and Roanoke (+100 jobs). The only absolute job loss was Lynchburg (-400 jobs).

Over the year, seasonally adjusted total nonfarm employment increased in all of the ten metropolitan areas. The Northern Virginia metropolitan area experienced the largest absolute job gain, up 26,500 jobs (+1.8 percent). Richmond was ranked second, with a gain of 7,400 jobs (+1.1 percent), and Charlottesville was ranked third, with a gain of 4,800 jobs (+4.1 percent). The other over-the-year job gains occurred in: Virginia Beach-Norfolk-Newport News (+4,500 jobs); Roanoke (+1,800 jobs); Winchester (+1,700 jobs); Lynchburg (+1,200 jobs); Staunton-Waynesboro (+900 jobs); Harrisonburg (+600); and Blacksburg-Christiansburg-Radford (+300).

Not Seasonally Adjusted Data

Virginia's unadjusted unemployment rate was down 0.4 percentage point in July to 2.9 percent, but was down 1.0 percentage point from a year ago. Compared to a year ago, the number of unemployed decreased by 39,918; household employment increased by 92,761; and as a result, the labor force rose by 52,843. Virginia's not seasonally adjusted unemployment rate continues to be below the national unadjusted rate, which was down 0.1 percentage point in July to 4.1 percent.

Compared to last month, the July unadjusted workweek for Virginia's 172,400 manufacturing production workers decreased by 1.4 hours to 39.3 hours, average hourly earnings decreased by $0.07 to $19.47, and average weekly earnings decreased by $30.11 to $765.17. Compared to last July, the unadjusted workweek decreased by 1.9 hours, average hourly earnings decreased by $0.08, and average weekly earnings were down by $40.29.

The statistical reference week for the household survey this month was the week of July 8-14, 2018.

The Virginia Employment Commission plans to release the July local area unemployment rates on Wednesday, August 29, 2018. The data will be available on our website, www.VirginiaLMI.com.

The August statewide unemployment rate and employment data for both the state and metropolitan areas are scheduled to be released on Friday, September 21, 2018.

Files detailing July's unemployment numbers are available below: