RICHMOND, VA— Governor Glenn Youngkin announced today that, according to the Current Employment Statistics (“CES” or “the establishment survey”), nonfarm payroll employment in Virginia fell by 1,000 in February and Virginia’s labor force participation rate decreased by 0.1 percentage points to 65.7 percent. According to BLS Local Area Unemployment Statistics (“LAUS”, or “the household survey”), Virginia’s seasonally adjusted unemployment rate in February edged up by 0.1 percentage points to 3.1 percent, 1.0 percentage points below the national rate. Since February of 2024, more than 54,000 jobs have been added, an increase of more than 260,000 jobs since January of 2022.
“Job growth in February was down a little at -1000 and unemployment remains low at 3.1%, a full point lower than the national rate,” said Governor Glenn Youngkin. “Virginia’s economy remains strong with more than $100 billion in capital investment committed by companies growing in Virginia, 259,000 open jobs across the Commonwealth, and our ongoing workforce development initiatives connecting skilled workers to in-demand industries.”
“While February’s employment numbers show some fluctuation, our labor market remains competitive. The fact that our unemployment rate is still a full percentage point below the national average underscores the strength of our economy. Our outlook remains positive, and we remain committed to ensuring Virginians have the training and support needed to connect with high-quality jobs,” said Secretary of Labor Bryan Slater.
“Virginia remains a top destination for business and talent, and we continue to see companies invest in our state. We are working closely with businesses to create an environment where they can expand and where Virginians can access meaningful, high-paying careers,” said Secretary of Commerce and Trade Juan Pablo Segura.
Preliminary statistics from the BLS Local Area Unemployment Statistics (“LAUS”) Survey reveal a decrease of 8,200 jobs in February, following gains in December and January.
For more details, visit the Department of Workforce Development and Advancement website at https://virginiaworks.com/.
