State unemployment inches downward, leading Southeast

Virginia’s unemployment rate dropped to 2.9% in June, down from 3% the previous month, according to the Virginia Employment Commission. The seasonally adjusted number decreased by 0.1% from June 2018. It’s the 12th consecutive month the commonwealth’s labor market has shown growth.

“This report is a great sign that our efforts to build an inclusive and diverse economy are yielding positive results, whether reflected by the decrease in our unemployment rate, the continued growth of our labor force, or Virginia reclaiming the title of ‘Top State for Business’ in CNBC’s annual ranking announced earlier this month,” Gov. Ralph Northam said in a statement.

Virginia has the lowest seasonally adjusted unemployment rate among the Southeast states and the third-best percentage among states east of the Mississippi, along with Wisconsin. The commonwealth is ranked sixth-lowest in the nation for unemployment.

Megan Healy, the state’s chief workforce development advisor, says that “more Virginians than ever are earning skills that prepare them for quality jobs in high-demand industries.”

In June, the private sector in the commonwealth recorded a gain of 26,600 jobs over the last year, while employment in Virginia’s public sector increased as well, by 1,000 jobs.

“My administration will stay focused on attracting new capital investment,” Northam says, “supporting existing companies looking to expand in Virginia, creating well-paying jobs, and bolstering our workforce so that we can keep our economic momentum moving forward and ensure that all communities, and all Virginians have an opportunity to share in the commonwealth’s success.”