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Virginia

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Payroll employment in Virginia increased by 4,900 jobs (0.1 percent) in December. The unemployment rate was unchanged at 3.0 percent.

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  • "Virginia's labor market improved slightly in December. Payroll employment increased slightly, the labor force expanded marginally, and the unemployment rate held at 3.0 percent." – Joseph Mengedoth
  • Total payroll employment in Virginia increased by 4,900 jobs (0.1 percent), on net, in December. The largest job gains in the month came from the education and health services sector (5,300 jobs) followed by leisure and hospitality (4,700 jobs) and the government sector (1,500 jobs). Those gains were partially offset by modest losses in many of the remaining industries.
  • On a year-over-year basis, payroll employment increased by 76,900 jobs (1.8 percent), on net. Since last December, the most jobs were added in education and health services (20,400 jobs), followed by government (17,800 jobs), and professional business services (14,000 jobs).
  • The unemployment rate in Virginia was unchanged at 3.0 percent in December and the labor force expanded slightly (0.1 percent) in the month.

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


  • New residential permits in December 2024 decreased by 20.1 percent from November 2024. Compared to December 2023, the number of residential permits issued has decreased by 12.6 percent.
  • According to the Federal Housing Finance Agency, home values in Virginia appreciated by 0.8 percent in Q3 of 2024 when compared to Q2 of 2024. Furthermore, values appreciated by 6.3 percent in Q3 of 2024 compared to Q3 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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