Virginia’s unemployment rate hits lowest level in 11 years

Virginia’s unemployment rate fell for the third month in a row, hitting the lowest number since 2007, Gov. Ralph Northam’s administration announced.

“The September 2018 seasonally adjusted unemployment rate for Virginia was down 0.7 percentage point from a year ago and is the lowest rate since the June 2007 rate of 2.9 percent,” Northam’s office said in a statement.

According to a report from the Virginia Employment Commission, the labor force contracted by 3,574, or -0.1 percent in September, as the number of unemployed dropped by 3,482. But the estimated gains in jobs in August were revised up to reflect more jobs in employment in private education and health services, trade and transportation, professional and business services, information and miscellaneous services.

“I’m pleased to see the unemployment rate decrease for a third consecutive month, a key indication that Virginia’s economy is strengthening and the work we’re doing to attract new business and investment is paying off,” Northam said. “But even as we add jobs and see record-low unemployment in the commonwealth, we must also concentrate on enhancing our workforce development system and building the necessary infrastructure to sustain this growth long-term.”

Virginia has the lowest seasonally adjusted unemployment rate in the Southeast.