RICHMOND—Governor Ralph Northam today announced that Virginia’s unemployment rate dropped to 3.6 percent in October, which is 2.5 percentage points below the rate from one year ago. Virginia’s seasonally adjusted unemployment rate continues to be below the national rate of 4.6 percent.
The Commonwealth’s labor force participation rate rose to 63.0 percent. This rate is above the national rate of 61.6 percent.
“Virginia’s economy is making great strides, with the lowest unemployment rate since the COVID-19 pandemic began,” said Governor Northam. “The positive trend is the result of careful fiscal management and our extensive work to make Virginia a welcoming and open place. This approach has served Virginia well and continuing it will deliver further economic gains for the Commonwealth.”
Total nonfarm payroll employment increased by 19,400 jobs in October. The labor force increased by 5,918 to 4,256,634, as the number of unemployed residents decreased by 7,566 to 154,126. The number of employed residents rose by 13,484 to 4,102,508. In October 2021, Virginia saw over-the-year job gains of 2.0 percent.
“The declining unemployment rate and growth across many industries suggest that Virginia’s economy is as dynamic as ever,” said Secretary of Labor Megan Healy. “Employers and employees are working together on our economic recovery, and we should all be proud of how far we have come.”
