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Federal Reserve Bank of Richmond
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Virginia

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Payroll employment in Virginia increased by 7,800 jobs (0.2 percent) in September. The unemployment rate was unchanged at 3.6 percent.

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Labor market icon showing three people Labor Market Conditions

  • "Virginia's labor market improved somewhat in September. Total payroll employment increased and the unemployment rate was unchanged; however, the labor force continued to contract slightly in the month." – Joseph Mengedoth
  • Total payroll employment in Virginia increased by 7,800 jobs (0.2 percent), on net, in September. The most jobs were added in the month in education and health services (3,400 jobs), other services (1,300 jobs), and construction (1,200 jobs).
  • On a year-over-year basis, payroll employment in Virginia was down 25,600 jobs (0.6 percent), on net. Compared to last year, the most jobs were lost in professional and business services (15,300 jobs) and government (7,600 jobs).
  • The unemployment rate in Virginia was unchanged at 3.6 percent in September as the number of unemployed declined; however, the labor force contracted further in the month.

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

  • New residential permits in August 2026 increased 35.3 percent from July 2026. Compared to August 2025, the number of residential permits issued has increased 60.7 percent.
  • According to the Federal Housing Finance Agency, home values in Virginia appreciated 1.7 percent in Q2 of 2026 when compared to Q1 of 2026. Furthermore, values appreciated 3.8 percent in Q2 of 2026 compared to Q2 of 2025.
Snapshot Resources

  • 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