Virginia labor force participation up

RICHMOND, VA – Governor Glenn Youngkin  announced the labor force participation rate increased by 0.3 percentage points to 66.5 percent in May, the highest rate since July 2013. According to BLS Local Area Unemployment Statistics (“LAUS,” or “the household survey”), the labor force in Virginia increased by 23,536 to 4,574,349. In addition, over 29,000 more Virginians were employed in May than April, with further decline in the unemployment rate to 2.9 percent.

“The labor force participation rate in the Commonwealth continues to grow as more Virginians get off the sidelines and find jobs,” said Governor Glenn Youngkin. “While we are encouraged by May’s strong employment numbers, we maintain our focus on creating a more competitive environment for business growth in the Commonwealth.”

With the continued increase of Virginians moving back into the workforce, Virginia’s seasonally adjusted unemployment rate of 2.9 percent was a slight decrease from April and remained below the national rate, which increased to 3.7 percent in May.

According to LAUS, the number of employed residents increased by 29,462 to 4,440,015 in May. Throughout the month, the number of unemployed residents decreased by 5,926 to 134,334.

“Virginia’s unemployment rate fell to 2.9% in May and remains below the national rate,” said Secretary of Labor Bryan Slater. “However, there remains uncertainty in the economy, which is why we are so focused on workforce development and individual advancement.”

“In May the labor force, labor force participation rate, and the number of employed Virginians all increased while the number of unemployed Virginians and the unemployment rate both decreased,” said Secretary of Commerce Caren Merrick. “We are pleased to see this continued growth and the impact of our economic development efforts.”