Virginia's unemployment rate in January remains at 3.3%

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Posted at 5:29 PM, Mar 14, 2022
and last updated 2022-03-14 17:29:14-04

RICHMOND, Va. – Virginia's unemployment rate in January remained unchanged at 3.3%.

Governor Glenn Youngkin announced Monday that the state's unemployment rate remained unchanged while total nonfarm payroll employment decreased by 4,900 jobs.

Virginia's seasonally adjusted unemployment rate of 3.3% is 1.5% less than the rate last year.

According to a release from Youngkin's administration, the labor force increased by 16,461 to 4,277,757, as the number of unemployed residents decreased by 1,892 to 139,261. The number of employed residents rose by 18,353 to 4,138,496.

Virginia’s unemployment rate continues to be below the national rate. Nationally, unemployment rates rose from 3.9 to 4% in January.

The state's labor force participation rate increased by 0.3% to 62.9% in January. The labor force participation rate measures the proportion of Virginians age 16 and older that is employed or actively looking for work.

“My administration is committed to boosting economic growth, creating jobs, attracting businesses, and lowering the cost of living for all Virginians,” said Governor Youngkin. “One of our top priorities is ensuring that Virginia’s economy serves and benefits Virginia’s workers, businesses, and families alike.”

From January 2021 to January 2022, the VEC estimates that establishments in Virginia gained 89,800 jobs, an increase of 2.3%.

In January, the private sector recorded an over-the-year gain of 83,400 jobs, while employment in the public sector gained 6,400 jobs. The largest over-the-year job gain occurred in leisure and hospitality, up 46,200 jobs The largest job decrease over the year occurred in manufacturing which lost 2,800 jobs.