Northam announces Virginia’s unemployment lowest in over a decade

Posted at 2:18 PM, May 18, 2018
and last updated 2018-05-18 19:35:18-04

RICHMOND, Va. – Gov. Ralph Northam announced that Virginia’s unemployment rate hit 3.3 percent, the lowest the for the state since December 2007.

April’s unemployment assessment by Virginia matched the mark set in 2007. The commonwealth also has the lowest seasonally adjusted unemployment rate among the Southeast U.S. states.

“The continued decline we are seeing in Virginia’s unemployment rate is a clear sign that the work we are doing to grow and diversify our economy is paying off,” said Governor Northam.

According to Northam’s office, In April, the labor force expanded by 5,735, which was the third consecutive monthly increase, and at 4,331,079, set a new record high. Household employment increased by 8,738, which was the fourth consecutive monthly increase, and at 4,187,088, also set a new record high. The number of unemployed continued to drop, declining 3,003 to 143,991. Virginia’s seasonally adjusted unemployment rate continues to be below the national rate, which was down 0.2 percentage point in April to 3.9 percent.

“We must make every effort to maintain this momentum by investing in economic fundamentals like health care, education and workforce development. I am optimistic that we can work with the General Assembly to pass a budget that expands Medicaid and creates more opportunities for Virginians across the Commonwealth to thrive in their communities,” added Northam.

Virginia’s nonfarm payroll employment is 46,300 jobs higher when compared to April of 2017. Over-the-year employment growth in Virginia has been positive for 49 consecutive months.

For a greater statistical breakdown visit the Virginia Employment Commission’s website here.