It keeps on dropping.
Virginia’s unemployment rate dropped again last month to its lowest level in ten years.
July’s seasonally adjusted rate was 3.1 percent. That’s down 0.6 percent from a year ago and the lowest rate since August, 2007. It’s also the sixth month in a row that the number of people working in Virginia increased. Nearly 7,800 jobs were added last month.
Virginia’s unemployment rate continues to be below the national rate, which dropped 0.1 percentage in July to 3.9 percent.
According to the Virginia Employment Commission, between June and July employment increased in seven major industries, held steady in one, and decreased in the remaining three. The largest job gain during July occurred in the professional and business services sector. Employment in this sector increased by 7,100 jobs to 747,800. The second largest over-the-month gain occurred in manufacturing, with a gain of 2,100 jobs to 241,600. Total government experienced the third largest over-the-month gain, increasing by 1,500 jobs to 714,300. The remaining employment gains were: 1,200 jobs in leisure and hospitality to 411,000; 1,000 jobs in miscellaneous services to 207,500; 800 jobs in finance to 211,800; and 100 jobs in mining to 8,400. Trade, transportation, and utilities held steady at 670,300.
The largest job loss during June occurred in private education and health services. Employment in this sector fell by 900 jobs to 537,900. The second largest job loss was in the information sector at 600 to a total of 66,700. The third largest job loss was in the construction sector at 300 jobs to a total of 200,100.