Governor McAuliffe Announces Highest Employment Level in History of the Commonwealth
Governor McAuliffe announced today that Virginia’s employment level reached 3,848,000 in November, the highest in the Commonwealth’s history. Virginia’s seasonally adjusted unemployment rate was unchanged in November at 4.2 percent, after declining the previous four months. Moreover, initial unemployment claims are at their lowest level in 41 years.
Virginia’s seasonally adjusted unemployment rate remains below the national rate, which was unchanged in November at 5.0 percent.
November was the 20th consecutive month of year-over-year employment growth in the Commonwealth.
Once again, in November, Virginia had the lowest seasonally adjusted unemployment rate among the Southeast states and third-best rate among states east of the Mississippi.
The average weekly wage for private employers was $940.75 in November, which is 3.4 percent above a year ago.
“These latest economic milestones are a clear sign that our efforts to build a new Virginia economy are paying off,” said Governor McAuliffe. “I am particularly pleased that our record employment is accompanied by an increase in the average weekly wage for Virginia workers. This is undeniably good news for Virginia, but we cannot afford to let up now. My administration is eager to continue our momentum both by bringing new jobs and investments here in the short term and by making smart investments and policy choices that will lay a foundation for economic growth for decades to come.”
“The private sector continues to lead impressive job growth in the Commonwealth,” said Secretary of Commerce and Trade Maurice Jones. “This is great news for Virginia, and we must not exhale. We still have many opportunities to spur more growth in all regions of the state.”
From November 2014 to November 2015, Virginia’s seasonally adjusted total nonfarm employment was up 52,100 jobs. Over the year, employment grew 1.4 percent. For the past six months, employment has increased by 1.0 percent or slightly higher compared to a year ago, and October and November’s over-the-year growth of 1.5 percent and 1.4 percent, respectively, were the strongest since December 2011’s over-the-year growth of 1.4 percent. Over-the-year November job gains were recorded by both the private sector, which grew by 51,300 jobs, and the public sector, which grew by 800 jobs. Compared to a year ago, on a seasonally adjusted basis, 9 of the 11 major industry divisions experienced employment gains.
For a greater statistical breakdown visit the Virginia Employment Commission’s website at www.vec.virginia.gov.