United States Congress Joint Economic Committee

Virginia

January 2025

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December Employment Update
Labor Market (BLS/Haver)
Most Recent Prior Month 12 Mo. Prior
Virginia Unemployment (U-3) 3.2% 3.2% 2.9%
U.S. Official Rate (U-3) 3.7% 3.7% 3.4%
U.S. "Real" Rate (U-6) 7.0% 7.1% 6.7%
Virginia Labor Force Participation Rate 65.6% 65.4% 64.6%
U.S. Labor Force Participation Rate 62.6% 62.7% 62.7%
Prices (BLS/Haver, AAA)
Most Recent Prior Month 12 Mo. Prior
CPI-U Inflation 3.4% 3.1% 6.5%
"Core" CPI Inflation 3.9% 4.0% 5.7%
National Gas/gal. Updated 1/22/25 12:00 AM $3.13 $3.04 $3.08
Virginia Gas/gal. $3.08 $2.89 $2.97
South Region: Loaf of Bread $1.83 $1.80 $1.70
South Region: Milk/gal. $4.06 $4.07 $4.22
Economic Growth (BEA, WSJ/Haver)
U.S. Real GDP
Q3/2024 (2nd Estimate)
2.8%
VA Real GDP
Q3/2024
3.2%
S&P 500 (YTD)
0.29% Updated 1/16/24 5:00 AM
Minimum Wage (DOL/WHD)
National Hourly Rate
$7.25
VA Hourly Rate
$11.00
Last Generated: 1/22/25 8:35 AM