Virginia’s unemployment rate drops to 2.7%

Virginia’s seasonally adjusted unemployment rate decreased to 2.7% in September, down 0.1% from last month and the same time a year ago, Gov. Ralph Northam announced on Friday.

The national unemployment rate for September was 3.5%. The commonwealth’s labor force expanded for the 15th consecutive month in September by 10,132 workers, or 0.2%, to set a new record of 4.41 million workers. The number of unemployed people in Virginia decreased by 3,555. Household employment in Virginia is also at a new high of 4.29 million workers.

Virginia has the lowest seasonally adjusted unemployment rate among Southeast states. Over-the-year employment growth in Virginia has been positive for 66 consecutive months.

“I am pleased to see the commonwealth’s unemployment rate drop to its lowest point in more than 18 years, a clear signal that our economy is strong and our efforts to attract 21st-century jobs to Virginia are paying off,” Northam said in a statement. “With more and more companies from diverse industries choosing to locate and invest in Virginia, we are showing the country and the world exactly why we are the best state for business. My administration will stay focused on creating economic opportunity so that every Virginian can share in our success, no matter who they are or where in the commonwealth they live.”