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Virginia’s current unemployment rate is lowest in more than 10 years

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Posted at 11:38 AM, Sep 21, 2018
and last updated 2018-09-21 11:38:00-04

RICHMOND, Va. — Virginians are showing up for work in greater numbers than ever, according to an announcement by Gov. Northam made Friday.

The state’s seasonally-adjusted unemployment rate is currently three percent – the lowest rate in more than 10 years.  The labor force – defined as all Virginians who are able to work – hit a record high of 4,356,189 in August while household employment increased by 3,284, pushing the household employment rate to record highs.

The Commonwealth’s unemployment rate continues to stand below the national rate which was unchanged at 3.9 percent.

“The Commonwealth’s economy continues to grow as more Virginians join the workforce and more companies choose us for investment,” Governor Northam said. “As the unemployment rate declines, we are remaining laser-focused on bringing quality, well-paying jobs to every corner of Virginia and ensuring our workforce has the 21st-century, in-demand skills employers are seeking.”

Virginia has the lowest seasonally adjusted unemployment rate among the Southeast states and is ranked tenth in the nation for the seasonally adjusted unemployment rate along with South Dakota and Wisconsin.

“The sustained drop in Virginia’s unemployment rate is great news for the Commonwealth,” said Secretary of Commerce and Trade Brian Ball. “We will continue working diligently to bring investment and create wage-sustaining jobs in all regions for all Virginians.”