Governor Glenn Youngkin Announces the Commonwealth’s April Unemployment Rate Unchanged from March at Three Percent

RICHMOND, VA – Governor Glenn Youngkin right now introduced Virginia’s unemployment price held regular at 3 p.c in April, whereas whole nonfarm payroll employment elevated by 13,600 jobs. The Commonwealth’s seasonally adjusted unemployment price of three p.c is 1.3 share factors beneath the speed from a yr in the past. The labor power elevated by 18,281 to 4,329,907, because the variety of unemployed residents decreased by 1,324 to 129,771. The variety of employed residents rose by 19,605 to 4,200,136.

In keeping with BLS family survey knowledge, Virginia’s labor power expanded to over 4.3 million staff in April 2022. Since February of this yr, the labor power grew by over 52,000. The typical month-to-month progress within the dimension of the labor power from February by way of April of 2022 was 17,352, whereas the 2021 common was -1,653. Labor power progress March’s labor power progress was the second-largest month-to-month improve whereas April’s was the third-largest going again to 1976.

The Commonwealth’s labor power participation price rose by 0.2 of a share level to 63.5 p.c in April. The labor power participation price measures the proportion of the civilian inhabitants age 16 and older that’s employed or actively searching for work. 

“We’ve got greater than 60,000 Virginians working right now than after I took workplace,” mentioned Governor Glenn Youngkin. “Our state continues so as to add jobs month after month as we develop alternatives for companies and households in each nook of the Commonwealth. There’s extra work to be accomplished, Virginia remains to be hundreds of jobs wanting pre-pandemic ranges. Our mission stays clear, proceed making Virginia the perfect place to reside, work and lift a household.” 

“The variety of employed residents has risen a complete of almost 62,000 and by a mean of 20,500 throughout February, March, and April in 2022, in comparison with averaging beneath 5,000 a month in 2021,” mentioned Secretary of Commerce and Commerce Caren Merrick. “Additionally, the labor power participation price rose to 63.5 p.c — almost a full share level increased than on the finish of 2021. This is a sign that many Virginians are getting off the sidelines and again into the sport.”

“The unemployment price has not risen in two years and is a 3rd decrease than a yr in the past,” mentioned Secretary of Labor Bryan Slater. “Whereas the unemployment price can generally go down even when jobs are misplaced, VEC knowledge for April confirmed whole employment went up whereas unemployment went down. These traits point out that Virginia’s restoration from the newest recession is transferring ahead.”

Virginia payroll employment elevated by 13,600 to 4,037,800 in April. From April 2021 to April 2022, the VEC estimates that institutions in Virginia gained 124,500 jobs, a rise of three.2 p.c. In April, the non-public sector recorded an over-the-year achieve of 115,700 jobs, whereas employment within the public sector gained 8,800 jobs.

In comparison with a yr in the past, on a seasonally adjusted foundation, 9 of 11 main trade divisions skilled employment will increase whereas two noticed employment decreases. The most important over-the-year job achieve occurred in leisure and hospitality, up 62,400 jobs (+18.4%). The second-largest over-the-year job achieve occurred in skilled and enterprise providers, as much as 18,600 jobs (+2.4%). The following largest over-the-year job achieve occurred in training and well being providers, as much as 18,000 jobs (+3.4%). Different job positive factors occurred in commerce and transportation (+11,200 jobs), authorities (+8,800 jobs), miscellaneous (+6,400 jobs), data (+2,300 jobs), building (+300 jobs), and mining (+200 jobs). Inside authorities, native (+2,500 jobs) and state authorities (+700 jobs) each gained jobs over the yr whereas the federal authorities noticed a lower in employment (-700 jobs). The most important job loss throughout April occurred in finance (-2,700 jobs) to 207,500. The second-largest lower occurred in manufacturing with a lower of 1,000 jobs to 235,900.

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