Released September 20, 2024
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In August, among the 50 states and the District of Columbia unemployment fell in 5, rose in 32, and remained unchanged in 14.
The highest unemployment rate was 5.7 percent in District of Columbia, and the lowest was 2 percent in South Dakota. Nationally, the unemployment rate fell by 0.1 percentage point to 4.2 percent.
In August, payroll jobs rose in 32 states and fell in 18. The largest payroll job percent increase was 0.6 percent in Texas. The largest payroll job percent decline was 0.7 percent in South Dakota.
In August, Virginia lost 5,800 net payroll jobs and the unemployment rate rose by 0.1 percentage point to 2.8 percent. In the prior month, Virginia lost 4,500 net payroll jobs.
Over the past 12 months, Virginia added 61,600 net payroll jobs and the unemployment rate rose by 0.1 percentage point from 2.7 percent.
Nationally, nonfarm payrolls rose by 142,000 in August, or 0.1 percent. Virginia is tied for 19th in the nation for percentage gain in nonfarm payroll employment over the past 12 months.
In August, Virginia’s private sector lost 5,700 net private payroll jobs, and over the past 12 months it added 55,900 private payroll jobs. In the prior month, Virginia added 700 net private payroll jobs.
In August, employment in Virginia fell by 5,572, and over the past 12 months it rose by 8,435.
Virginia’s labor force participation rate fell to 66 percent in August from 66.1 percent and ranks 11th in the nation. In the past 12 months, the labor force participation rate has fallen by 0.3 percentage points.
Virginia lost 5,800 net payroll jobs, or -0.1 percent, on a seasonally adjusted basis during August. In the prior month, Virginia lost 4,500 jobs. Virginia nonfarm payroll employment has increased in 9 of the past 12 months.
Nationally, nonfarm payrolls rose by 142,000 in August, or 0.1 percent. Virginia is tied for 19th in the nation for percentage gain in nonfarm payroll employment over the past 12 months.
Virginia lost 5,700 private sector jobs, or -0.2 percent. on a seasonally adjusted basis during August. In the prior month, Virginia added 700 jobs. Virginia private sector payroll employment has increased in 10 of the past 12 months.
Nationally, private sector payroll jobs rose by 118,000 jobs in August, or 0.1 percent. Virginia is tied for 18th in the nation for percentage gain in private sector payroll employment over the past 12 months.
The best performing sectors on a seasonally adjusted basis during August were Leisure and Hospitality (3,200) and Construction (2,300).
The poorest performing sectors during the month were Education and Health Services (-3,100) and Professional and Business Services (-5,000).
The best performing sectors during the last 12 months were Education and Health Services (20,000) and Construction (11,800).
The poorest performing sectors during the last 12 months were Mining and Logging (-100) and Financial Activities (-3,300).
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 labor force participation rate in Virginia fell to 66 percent in August from 66.1 percent in the prior month.
Virginia ranks 11th in the nation.
The 10-year high for the labor force participation rate in Virginia was 66.6 percent occurring in February 2024, and the 10-year low was 63.4 percent occurring in February 2021.
The national labor force participation rate remained steady at 62.7 percent in August.