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Total payroll employment in Virginia decreased by 11,800 jobs (0.3 percent) in December. The unemployment rate rose 0.1 percentage point to 3.0.

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Labor market icon showing three people Labor Market Conditions

  • Total payroll employment in Virginia decreased by 11,800 jobs (0.3 percent), on net, in December. The most jobs were added over the month in education and health services (3,200 jobs), while the most jobs were lost in government (6,200 jobs).
  • Since December 2022, Virginia employment was up by 45,100 jobs (1.1 percent), on net. Employment was 1.7 percent higher than its pre-pandemic level from February 2020. In the past year, the most jobs were added in education and health services (20,500 jobs). Professional and business services saw the biggest job loss (2,700 jobs).
  • The unemployment rate in Virginia rose 0.1 percentage point to 3.0 percent from November to December but was down 0.1 percentage point on a year-over-year basis. The December unemployment rate was 0.1 percentage point above its pre-pandemic February 2020 reading.

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

  • Residential permitting activity in Virginia was down 19.1 percent from October to November but up 33.7 percent on a year-over-year basis.
  • According to the Federal Housing Finance Agency, home values in Virginia appreciated 6.2 percent from the third quarter of 2022 to the third quarter of 2023.
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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