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Governor Youngkin Announces Continued Job Growth / Lower Unemployment Rate

Governor Glenn Youngkin has announced continued job growth in Virginia according to BLS Local Area Unemployment Statistics (“LAUS”, or “the household survey”), Virginia’s seasonally adjusted unemployment rate remained below 3.0 percent at 2.8 percent in April, which is 0.1 percentage points below the rate from last month and 1.1 percentage points below the national rate, which increased by 0.1 percent 3.9 percent. Non-farm payroll employment in Virginia grew by 3,400 in the month.

“Our goal since day one has been for more Virginians to hear the words ‘you are hired,’ and each new job created represents a step toward a stronger Commonwealth and a promising future for all Virginians,” said Governor Glenn Youngkin. “It is our strong job growth that enabled us to pass and sign a bipartisan budget this week, making historic investments in areas important to our workforce, such as childcare for working families, behavioral health, and education. We will keep Virginia on a winning path and strengthen our economic vitality and our communities.”

The number of employed Virginians increased by 517 to 4,455,081, and over 204,000 more Virginians employed since January 2022. The labor force decreased by 4,375 to 4,584,350, and the labor force participation rate decreased to 66.4 percent, while the number of unemployed residents decreased by 4,892 to 129,269. The labor force participation rate measures the proportion of the civilian population age 16 and older that is employed or actively looking for work.

“Continued employment growth and a sustained low unemployment rate signals resilience in our economy, paving the way for more robust job creation ahead,” said Secretary of Labor Bryan Slater.

“Our focus remains on creating a strong labor market where every Virginian can find opportunities to thrive and contribute,” said Secretary of Commerce Caren Merrick. “We continue to be aggressive in attracting and expanding and supporting new businesses in the Commonwealth.”

BLS publishes an additional employment figure from its Current Employment Statistics Survey (“CES” or “establishment survey”). The CES survey uses payroll records of establishment employers and is designed to provide a count of jobs under which the employer pays unemployment insurance. The LAUS 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. 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 Virginia Works LMI website at virginiaworks.com.

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