Governor Glenn Youngkin announced the labor force participation rate rose 0.3 of a percentage point to 66.2 percent in April, the highest rate since June 2014.
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According to the Bureau of Labor and Statistics Local Area Unemployment Statistics (“LAUS”, or “the household survey”), the labor force in Virginia increased this month by 21,687 individuals to 4,550,748.
In addition, over 25,000 more Virginians were employed in April than March, with further declines in the unemployment rate to 3.1 percent.
“On day one we declared that ‘Virginia is open for business’ and April’s strong employment numbers—the highest labor force participation rate in nearly a decade—are just the latest example that Virginia is on the move,” said Governor Glenn Youngkin.
“During this commencement season, as many graduate from high school and college, the high volume of job openings will be a huge help to young Virginians as they join the workforce and celebrate these momentous achievements.”
With the increase of Virginians moving back into the workforce, Virginia’s unemployment rate of 3.1 percent was a slight decrease from March and remained below the national rate, which decreased to 3.4 percent in April.
According to LAUS, the number of employed residents increased by 25,127 to 4,410,619 in April. Throughout the month, the number of unemployed residents decreased by 3,440 to 140,129.
Virginia CES employment rose by 1,400 jobs in April to 4,138,100 and has increased by 87,000 since April 2022.
Employment rose in seven of eleven major industry sectors, was unchanged in mining, and declined in three.
The largest job gain during April occurred in leisure and hospitality services with an increase of 2,700 jobs to 411,100.
The second largest increase occurred in finance (+2,300 jobs) to 216,200. Manufacturing was third with a gain of 1,100 jobs, rising to 246,700.
The largest job loss during April occurred in professional and business services (-4,600 jobs) to 810,200, followed by construction (-1,300 jobs) to 212,100, and trade, transportation, and utilities (-500 jobs) to 665,000.
Compared to a year ago, on a seasonally adjusted basis, nine of eleven major industry divisions experienced employment increases, while mining was unchanged, and trade, transportation and utilities experienced a loss.
The largest absolute over-the-year job gain occurred in leisure and hospitality services, up 24,400 jobs (+6.3%).
The second largest over-the-year job gain occurred in education and health services, up 23,500 jobs (+4.3%).
The third largest over-the-year job gain occurred in government, up 15,800 jobs (+2.2%). Trade, transportation, and utilities experienced the only job loss (-100 jobs). ■
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