Governor Glenn Youngkin Friday announced the number of employed Virginians expanded to more than 4.2 million workers in June 2022. Virginia has added nearly 94,000 employed residents since February 1st. Virginia’s unemployment rate fell to 2.8 percent in June. This continues to be below the national rate, which was unchanged at 3.6 percent.
According to BLS household survey data, the number of employed residents rose by 13,792 to 4,232,192. In 2022, employment growth has accelerated by averaging nearly 19,000 a month, over four times the 2021 average. The Commonwealth’s seasonally adjusted unemployment rate of 2.8 percent is 1.2 percentage points below the rate from a year ago. The labor force increased by 6,250 to 4,353,465 as the number of unemployed workers contracted by 7,542, the largest amount in a year.
The Commonwealth’s labor force participation rate, measuring the proportion of the civilian population age 16 and older that is employed or actively looking for work, was unchanged at 63.8 percent in June.
“The June unemployment rate dropping to 2.8% is promising news for Virginia’s economic health and is a welcome return to pre-pandemic unemployment levels,” said Governor Glenn Youngkin. “In such a competitive labor market, we remain committed to expanding workforce development opportunities for Virginians. While the 94,000 job additions is promising, we must remain vigilant regarding the workforce participation rate, which does continue to lag. I am focused on increasing Virginia’s participation rate across the commonwealth.”
Virginia nonfarm payrolls fell by 2,700 jobs in June to 4,045,100. From June 2021 to June 2022, the VEC estimates that establishments in Virginia gained 123,400 jobs, an increase of 3.1%. In June, the private sector recorded an over-the-year gain of 125,700 jobs, while employment in the public sector decreased 2,300 jobs.