Jobless rate remains at 4.2 percent in November

Virginia’s unemployment rate remained unchanged at 4.2 percent in November, but total unemployment set a record during the month.
 
The Virginia Employment Commission said Friday that the commonwealth’s jobless rate didn’t budge last month after declining for four months.

The unemployment rate is seasonally adjusted, meaning it takes into account fluctuations in the labor market.

The governor’s office said Virginia’s employment level reached 3,848,000 in November, the highest in the commonwealth’s history.

In addition, initial unemployment claims during the month reached their lowest level in 41 years.

Virginia’s 4.2 percent jobless rate represents a decrease of six tenths of a percentage point from 12 months before. The national unemployment rate last month was 5 percent, also unchanged from October.

The November 2016 rate for Virginia is the lowest among Southeast states and third-best rate among states east of the Mississippi.

Employment rose in eight major industry sectors in November, with gains of 1,000 or more jobs in seven industries. Employment fell in another two industry divisions while total government employment remained unchanged at 708,200 jobs.

The biggest job increase occurred in the leisure and hospitality industry, with a gain of 4,400 jobs. The biggest loss of jobs occurred in finance, which saw a decline of 700 positions to 198,600.