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Virginia

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Employment in Virginia increased by 100 jobs (0.0 percent) in December. The unemployment rate inched up 0.2 percentage point to 3.0 percent.

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Labor market icon showing three people Labor Market Conditions

  • Total payroll employment in Virginia rose by 100 jobs (0.0 percent), on net, in December. The most jobs were lost over the month in education and health services (1,200 jobs), while the most jobs were added in jobs labelled as other services (1,800 jobs).
  • Since December 2021, Virginia employment was up by 103,500 jobs (2.6 percent), on net. Employment was 0.1 percent higher than its pre-pandemic level from February 2020. Jobs were added over the year in all sectors except financial activities, which lost 5,000 jobs. The most jobs were added in education and health services (32,000 jobs).
  • The unemployment rate in Virginia increased 0.2 percentage point to 3.0 percent in December but was down 0.3 percentage point on a year-over-year basis. The unemployment rate was 0.3 percentage point higher than its pre-pandemic level from February 2020.

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

  • Residential permitting activity in Virginia was down 37.5 percent from October to November and was down 40.7 percent on a year-over-year basis.
  • According to the Federal Housing Finance Agency, home values in Virginia appreciated 14.3 percent from the third quarter of 2021 to the third quarter of 2022.
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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