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Virginia unemployment rate drops to 4.2 percent

(Associated Press | AP)
Published: Aug. 20, 2021 at 2:46 PM EDT
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RICHMOND, Va. (WDBJ/Governor’s Office Release) - Virginia’s seasonally adjusted unemployment rate fell to 4.2 percent in July, 3.7 points below the rate from one year ago, according to Governor Ralph Northam.

The number of employed residents rose to 4,065,473, an increase of 15,413, Northam said. In July 2021, Virginia saw over-the-year job gains of 3.8 percent. Virginia’s rate is below the national rate of 5.4 percent.

“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.We believe that workers will continue to re-enter the labor force and that the strong job market will continue in the coming months.”

“It is exciting to see the unemployment rate in the Commonwealth significantly lower than it was at this time last year,” said Secretary of Commerce and Trade Brian Ball. “As our labor force keeps growing month-over-month, we are very optimistic about what the future holds for Virginia’s businesses.”

“Our administration is focused on creating an economic climate that will help Virginia’s workers and businesses thrive,” said Governor 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. Virginians have shown great resolve over the last year and a half, and it is evident in the numbers we are seeing in this report.”

Click here for a statistical breakdown.

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