January 25, 2022
Summary
Virginia added 12,300 net payroll jobs and the unemployment rate fell by 0.2 percentage point to 3.2 percent in December, according to Bureau of Labor Statistics (BLS) data released at 10:00am on January 25, 2022.
Over the past twelve months, Virginia added 107,000 payroll jobs and the unemployment rate fell by 2.4 percentage points from 5.6 percent.
In December, Virginia’s private sector added 13,300 net private payroll jobs and over the past twelve months it added 90,000 private payroll jobs in the establishment survey.
In the household survey, the number of unemployed fell by 9,033 on net in December, and over the past year employment rose by 106,103.
Virginia’s labor force participation rate remained steady at 63 percent in December . Since last year, the labor force participation rate fell by 0.2 percentage point.
The national unemployment rate fell by 0.3 percentage point in December to 3.9 percent. State employment and unemployment data for January is scheduled for release March 14, 2022. The national employment situation report for January will be released February 04, 2022.
Virginia Payroll Employment
Virginia added 12,300 net payroll jobs, or 0.3 percent, on a seasonally adjusted basis during December. In the prior month, Virginia added 18,700 jobs. Over the past twelve months, Virginia added 107,000 payroll jobs, or 2.8 percent. Virginia nonfarm payroll employment had increased in 10 of the past 12 months.
Nationally, nonfarm payrolls rose by 199,000 in December, or rose by 0.1 percent. Over the 12-month period ending with December, nonfarm payrolls rose by 6,448,000 jobs, or 4.5 percent. Virginia is tied for 31st among the 50 states and the District of Columbia for percentage gain in nonfarm payroll employment over the past 12 months.
During December, Virginia’s private-sector added 13,300 jobs, or approximately 0.4 percent. The private-sector in Virginia added 18,700 jobs in the prior month. Over the past twelve months, private-sector payrolls in Virginia added 90,000, or 2.8 percent. Virginia private-sector payroll employment has increased in 10 of the past 12 months.
Nationally, private-sector payroll jobs rose by 211,000 jobs in December, or 0.2 percent. Over the past 12 months, the national payroll rose by 5,996,000 jobs in the private sector, or 5 percent. Virginia is tied for 37th among the 50 states and the District of Columbia for a percentage gain in private-sector payroll employment over the past 12 months.
The best performing sectors on a seasonally adjusted basis during December were Leisure and Hospitality (6,000) and Professional and Business Services (3,400). The poorest performing sectors during the month were Information (-500) and Government (-1,000).
The best performing sectors during the last twelve months were Leisure and Hospitality (34,900) and Professional and Business Services (23,300). The poorest performing sectors during the last twelve months were Construction (-2,000) and Financial Activities (-3,800).
Virginia Labor Force Statistics
Labor Force Participation
The labor force participation rate in Virginia remained unchanged at 63 percent in December . At a labor force participation rate of 63 percent, Virginia ranks 20th in the nation. The labor force participation rate in Virginia fell by 0.2 percentage point from a year earlier. The labor force participation rate is the percentage of the civilian noninstitutionalized population age 16 and older who are employed or actively looking for work.
The 10-year high for the labor force participation rate in Virginia was 67.3 percent in December 2011. The series high for the labor force participation rate in Virginia last occurred in June 1992 when the labor force participation rate hit 70.9 percent. The 10-year low for the labor force participation rate was 62.7 percent , last occurring in June 2021. This also represents the series low for the labor force participation rate in Virginia.
The national labor force participation rate remained steady at 61.9 percent in December. That rate rose by 0.4 percentage point from a year earlier. The all-time high for the national labor force participation rate was 67.3 percent in April 2000. The 10-year high for the national labor force participation rate was 63.8 percent in October 2012. The recent 10-year low occurred in April 2020 at a level of 60.2 percent. The series low for the national labor force participation rate was 58.1 percent in December 1954.
Employment-to-Population Ratio
The employment-to-population ratio, or the percentage of the Virginia civilian noninstitutionalized population 16 years and older counted as employed, in December rose to 61 from 60.8 percent in the prior month. At 61 percent, Virginia is tied for 15th among state employment-to-population ratios in the nation. The employment-to-population ratio in Virginia rose by 1.4 percentage points from a year earlier.
The 10-year high for the employment-to-population ratio in Virginia was 64.8 percent last occurring in December 2019. The series high for the employment-to-population ratio in Virginia occurred in April 2008 when the employment-to-population ratio hit 67 percent. The 10-year low for the employment-to-population ratio was 58 percent in April 2020. This also represents the series low for the employment-to-population ratio in Virginia.
The national employment-to-population ratio rose by 0.2 percentage point over the month to 59.5 percent in December. That rate rose by 2.1 percentage points from a year earlier. The all-time high for the national employment-to-population rato was 64.7 percent in April 2000. The 10-year high for the national employment-to-population ratio was 61.2 percent in February 2020. The recent 10-year low occurred in April 2020 at a level of 51.3 percent. The series low for the employment-to-population ratio was 51.3 percent in April 2020.