RICHMOND, Va. - Virginia's unemployment rate dropped to 4.5% in May, a decrease from last year.
Governor Northam announced that Virginia’s unemployment rate dropped 0.2 percentage points to 4.5% in May. This is a 4% decrease of the rate from one year ago.
According to Northam's administration, the state's seasonally adjusted unemployment rate continues to be below the national rate of 5.8%. Virginia has the 3rd lowest seasonally adjusted unemployment rate among Southeast states.
“More people are working in Virginia and our recovery is outpacing the rest of the country,” said Governor Northam. “This week, we reached the 70 percent vaccination benchmark, and we did it two weeks ahead of the nationwide July 4 target. In the weeks and months ahead, we will remain focused on helping the communities that COVID-19 hit hardest and making sure all Virginians have the resources they need to thrive.”
Total nonfarm payroll employment decreased by 3,500 jobs in May. The labor force increased by 4,042 to 4,229,852, as the number of unemployed residents decreased by 8,061.
The number of employed residents rose by 12,103 to 4,040,585. In May 2021, Virginia saw over-the-year job gains of 7%.
“With over 4.2 million Virginians fully vaccinated, we are reaching what looks like the final stages of this pandemic,” said Chief Workforce Development Advisor Megan Healy. “Our Administration is committed to helping Virginians return to work and make sure that they have the skills and support they need to thrive in the post-pandemic job market.”
For a breakdown on stats, click here.