Governor Youngkin announces unemployment rate drop

There were 7,500 less unemployed Virginians in the month of June, according to the Governor’s release

(AP Photo/Steve Helber) (Copyright 2022 The Associated Press. All rights reserved)

RICHMOND, Va. – Unemployment rates dropped in the month of June, Governor Youngkin said on Friday.

Youngkin said that the number of employed Virginians has expanded to more than 4.2 million workers in June of this year and that Virginia’s unemployment rate fell to 2.8%.

According to BLS household survey data provided in the release, employment growth has increased by averaging nearly 19,000 a month, over four times the rate that it was in 2021.

The release also said that the labor force increased by 6,250, and the number of unemployed workers dropped by 7,542, which is the largest amount in a year.

The Commonwealth’s labor force participation rate, which measures the number of people 16 or older that have a job or actively looking for one, remained at 63.8 percent in June, according to the release.

Youngkin explained his thoughts and focus on Virginia’s workforce and employment rates.

“The June unemployment rate dropping to 2.8% is promising news for Virginia’s economic health and is a welcome return to pre-pandemic unemployment levels,” said Governor Glenn Youngkin. “In such a competitive labor market, we remain committed to expanding workforce development opportunities for Virginians. While the 94,000 job additions is promising, we must remain vigilant regarding the workforce participation rate, which does continue to lag. I am focused on increasing Virginia’s participation rate across the commonwealth.”

The release said that nine of the eleven major industry divisions had increases in employment, while two had decreased.

This is how the employment rates of the major industries compared to those from a year ago, according to the release:

  • Leisure and hospitality, up 62,300 jobs (+17.9%)
  • Education and health services, up 26,200 jobs (+4.9%)
  • Professional and business services, up 16,400 jobs (+2.1%)
  • Trade, transportation, and utilities (+9,200 jobs)
  • Miscellaneous services (+4,600 jobs)
  • Manufacturing (+4,200 jobs)
  • Information (+3,200 jobs)
  • Construction (+500 jobs)
  • Mining and logging (+400 jobs)
  • Government (-2,300 jobs)
  • Finance (-1,300 jobs).

For more information on Virginia employment rates, you can visit the Virginia Employment Commission’s website.

About the Author:

Alli Graham came aboard the digital team as an evening digital content producer in June 2022.