Nonfarm Employment Increases
Governor Glenn Youngkin today announced that according to the BLS Current Employment Statistics Survey (“CES” or “establishment survey”) Virginia’s nonfarm employment grew by 2,100 jobs over the month and 63,500 over the year. Additionally, the Local Area Unemployment Statistics Survey (“LAUS”, or “the household survey”), the labor force increased by 2,677 to 4,571,505. With more Virginians seeking employment, Virginia’s seasonally adjusted unemployment rate in September increased by 0.1 percentage points to 2.9 percent, which is the same as the rate from a year ago.
“With the increase in nonfarm employment and in Virginia’s labor force, this is an overall encouraging report for the Commonwealth,” said Governor Glenn Youngkin. “As we compete with states across the country for business investment and talent, our focus remains on improving Virginia’s business-friendly environment, reducing the cost of doing business and lowering the cost of living so that everyone can pursue opportunity right here in the Commonwealth.”
“An increase in the civilian labor force is a promising sign of engagement and resilience among our workforce. Although we’ve observed a rise in unemployment, we see this as an opportunity to refine our strategies and continue to invest in training and support programs. Together, we will empower our citizens and strengthen our economy,” said Secretary of Labor Bryan Slater.
The Commonwealth’s labor force participation rate remained unchanged at 66.0 percent in September. The labor force participation rate measures the proportion of the civilian population age 16 and older that is employed or actively looking for work.
“The stability in our labor force participation rate indicates that Virginians are eager to seek new opportunities. While employment numbers may fluctuate, we are focused on fostering a dynamic business environment that attracts and retains talent,” said Secretary of Commerce Caren Merrick. “We remain optimistic about our path forward and are committed to driving job creation across the Commonwealth.”
The establishment survey uses payroll records of establishment employers and is designed to provide a count of jobs under which the employer pays unemployment insurance. According to the establishment survey, Virginia’s nonfarm employment grew by 2,100 jobs over the month and 63,500 over the year. The household survey is based on household interviews conducted each month for the Bureau of Labor Statistics and provides comprehensive data on the labor force, including those who are employed and unemployed. According to the household survey, the number of employed residents decreased by 317 to 4,440,179.
Virginia’s seasonally adjusted unemployment rate is 1.2 percentage points below the national rate, which decreased by 0.1 percentage points to 4.1 percent. Establishment survey data reflects changes for updated seasonal adjustment factors, and industry classification conversions (NAICS), as part of the annual benchmarking process. The household survey only distinguishes between whether a person is employed or unemployed, whereas CES counts each employee that is on an employer’s payroll. CES excludes business owners, self-employed persons, unpaid volunteers and private household workers, and those on unpaid leave or not working because of a labor dispute.
For more details, visit the Department of Workforce Development and Advancement website at https://virginiaworks.com/.
