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Virginia’s unemployment rate dropped to 4.2% in July

The Commonwealth added 144,000 jobs over the past year in nearly every economic sector, according to officials

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RICHMOND – Gov. Ralph Northam announced Friday that Virginia’s unemployment rate fell to 4.2%, which is 3.7% lower than the rate from a year ago.

Officials say Virginia’s unemployment rate continues to be below the national rate of 5.4%.

“Our administration is focused on creating an economic climate that will help Virginia’s workers and businesses thrive,” said Northam. “The impressive gains in payroll employment and the downward trend of unemployment rates continue to show the strength and resiliency of our economy and our workforce as we recover from the pandemic.”

According to a press release sent out by Northam’s office, the labor force expanded by 7,818 to 4,241,686, as the number of unemployed residents decreased by 7,595. Meanwhile, the number of employed residents increased by 15,413, totaling 4,065,473.

“The continued decline in Virginia’s unemployment rate and the increase in payroll employment are all signs of a strong job market,” said Secretary of Labor Megan Healy.

The Commonwealth added 144,000 jobs over the past year in nearly every economic sector, according to officials.

In July, business news network CNBC named Virginia this year’s “Top State for Business.”

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About the Author:

Nicole Del Rosario joined WSLS 10 in August 2020.