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Virginia

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Employment in Virginia rose by 6,700 jobs (0.2 percent) in August. The unemployment rate remained at 2.5 percent.

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Labor market icon showing three people Labor Market Conditions

  • Total payroll employment in Virginia increased by 6,700 jobs (0.2 percent), on net, in August. The most jobs were added over the month in government (4,200 jobs), while the most jobs were lost in construction (1,400 jobs).
  • Since August 2022, Virginia employment was up by 65,700 jobs (1.6 percent), on net. Employment was 1.7 percent higher than its pre-pandemic level from February 2020. The most jobs were lost in transportation, trade, and utilities (700 jobs). The most jobs were added in government (22,900 jobs).
  • The unemployment rate in Virginia remained at 2.5 percent from July to August and was down 0.3 percentage point on a year-over-year basis. The unemployment rate was 0.4 percentage point below 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 up 32.2 percent from July to August, and up 4.3 percent on a year-over-year basis.
  • According to the Federal Housing Finance Agency, home values in Virginia appreciated 6.1 percent from the second quarter of 2022 to the second 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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