October 2024
Released November 19, 2024
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United States Employment Snapshot
In October, among the 50 states and the District of Columbia unemployment fell in 8, rose in 22, and remained unchanged in 21.
The highest unemployment rate was 5.7 percent in District of Columbia and Nevada, and the lowest was 1.9 percent in South Dakota. Nationally, the unemployment rate remained unchanged in October.
In October, payroll jobs rose in 21 states and fell in 30. The largest payroll job percent increase was 0.4 percent in Idaho. The largest payroll job percent decline was 1 percent in Washington.
Virginia Employment Snapshot
In October, Virginia lost 3,000 net payroll jobs and the unemployment rate remained unchanged at 2.9 percent. In the prior month, Virginia added 4,500 net payroll jobs.
Over the past 12 months, Virginia added 67,800 net payroll jobs and the unemployment rate fell by 0.1 percentage point from 3 percent.
Nationally, nonfarm payrolls rose by 12,000 in October, or 0 percent. Virginia is tied for 14th in the nation for percentage gain in nonfarm payroll employment over the past 12 months.
In October, Virginia’s private sector lost 3,700 net private payroll jobs, and over the past 12 months it added 56,300 private payroll jobs. In the prior month, Virginia lost 1,200 net private payroll jobs.
In October, employment in Virginia rose by 1,404, and over the past 12 months it rose by 7,263.
Virginia’s labor force participation rate remained steady at 66 percent in October and ranks 11th in the nation. In the past 12 months, the labor force participation rate has fallen by 0.5 percentage points.
Virginia Payroll Employment
Virginia lost 3,000 net payroll jobs, or -0.1 percent, on a seasonally adjusted basis during October. In the prior month, Virginia added 4,500 jobs. Virginia nonfarm payroll employment has increased in 10 of the past 12 months.
Nationally, nonfarm payrolls rose by 12,000 in October, or 0 percent. Virginia is tied for 14th in the nation for percentage gain in nonfarm payroll employment over the past 12 months.
Virginia lost 3,700 private sector jobs, or -0.1 percent. on a seasonally adjusted basis during October. In the prior month, Virginia lost 1,200 jobs. Virginia private sector payroll employment has increased in 9 of the past 12 months.
Nationally, private sector payroll jobs fell by 28,000 jobs in October, or 0 percent. Virginia is tied for 14th 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 October were Financial Activities (900) and Government (700).
The poorest performing sectors during the month were Other Services (-1,700) and Professional and Business Services (-2,600).
The best performing sectors during the last 12 months were Education and Health Services (16,000) and Construction tied with Professional and Business Services (12,500).
The poorest performing sectors during the last 12 months were Mining and Logging (100) and Financial Activities (-700).
Virginia Labor Force
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 remained unchanged at 66 percent in October.
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 fell by 0.1 percentage points to 62.6 percent in October.