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Virginia unemployment rate drops to 2.9 percent, lowest since June 2007

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Posted at 6:30 PM, Oct 19, 2018
and last updated 2018-10-19 18:30:38-04

RICHMOND, Va. – Virginia’s unemployment rate dropped to 2.9 percent in September, Governor Ralph Northam announced Friday.

This marks the third consecutive monthly decline in the unemployment rate, and also marks the lowest rate since June 2007.

Virginia’s seasonally-adjusted unemployment rate decreased by 0.1 percentage point in September.

The 2.9 percent unemployment rate is well below the national rate, which was down by 0.2 percentage point to 3.7 percent.

Virginia is ranked eighth in the nation for the seasonally adjusted unemployment rate along with Vermont, according to a release by Governor Northam’s office.

“I’m pleased to see the unemployment rate decrease for a third consecutive month, a key indication that Virginia’s economy is strengthening and the work we’re doing to attract new business and investment is paying off,” said Governor Northam.

Despite the latest numbers, Northam says his administration will concentrate on enhancing the workforce development system and building the “necessary infrastructure to sustain this growth long-term.”

For more information on the unemployment rate, click here.