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Virginia

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Total payroll employment in Virginia increased by 1,200 jobs (0.0 percent) in May. The unemployment rate edged up slightly by 0.1 percentage point to 3.4 percent.

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Labor market icon showing three people Labor Market Conditions

  • "Labor market conditions in Virginia were little changed in May. Payroll employment increased marginally in the month and the unemployment rate edged higher." – Joseph Mengedoth
  • Total payroll employment in Virginia increased by 1,200 jobs (0.0 percent), on net, in May. The largest job gains in the month came from professional and business services (3,500 jobs) and trade, transportation, and utilities (1,100 jobs). Total job gains were partially offset by sizeable losses in the government sector (2,700 jobs) and the construction industry (1,900 jobs).
  • On a year-over-year basis, payroll employment increased by 49,400 jobs (1.2 percent), on net. Since last May, the most jobs were added in education and health services (27,600 jobs) and the construction industry (8,400 jobs).
  • The unemployment rate in Virginia edged up slightly to 3.4 percent in May and is now 0.6 percentage point above the rate reported last May.

Housing Market icon showing a picture of a house Housing Market Conditions

  • New residential permits in May 2025 decreased 10.3 percent from April 2025. Compared to May 2024, the number of residential permits issued has decreased 23.3 percent.
  • According to the Federal Housing Finance Agency, home values in Virginia appreciated 1.4 percent in Q1 of 2025 when compared to Q4 of 2024. Furthermore, values appreciated 6.5 percent in Q1 of 2025 compared to Q1 of 2024.
Snapshot Resources
  • Term Definitions

    Payroll Employment
    The number of nonfarm jobs (persons on payrolls) according to where those jobs are located.

    Unemployment Rate
    The number of unemployed persons (those not employed but available and searching for work) as a percent of the civilian labor force (the total number of employed plus unemployed persons).

    Industry Structure
    A breakdown of total nonfarm jobs by industry. Percentages sum to 100 percent.

    Industry Growth
    The percentage change in jobs in each industry from a year ago.

    Building Permits
    The number of privately owned single-family and multi-family units authorized in permit-issuing places.

    House Price Index
    A repeat sales index, measuring average price changes in repeat sales or refinancings on the same single-family properties.

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Joseph Mengedoth