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Virginia’s “lowest unemployment rate in a decade” holds steady, Gov. Northam says

Virginia Gov. Ralph Northam announced today, July 20, that Virginia’s seasonally adjusted unemployment rate was unchanged in June at 3.2 percent, but was down 0.5 percentage point from a year ago.

The 3.2 percent seasonally adjusted unemployment rate in May and June is the lowest rate since the October 2007 rate of 3.2 percent.

In June, the labor force expanded by 10,407, which was the fifth consecutive monthly increase, and at 4,348,904, set a new record high. Household employment increased by 12,715, which was the sixth consecutive monthly increase, and at 4,211,176, also set a new record high.

The number of unemployed continued to drop, declining by 2,308 to 137,728. Virginia’s seasonally adjusted unemployment rate continues to be below the national rate, which was up 0.2 percentage point in June to 4.0 percent.

Northam was quoted in a news release as saying, “Virginia’s ranking as one of the top states in the country for business is due to one of our greatest economic assets: our first-class workforce. I am pleased to see the lowest unemployment rate in a decade holding steady, increased household employment, and record labor force expansion. My administration is committed to building on this momentum to ensure opportunity for every Virginian with 21st-century job training and by drawing additional jobs and investment to the Commonwealth.”

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