Virginia

Total payroll employment in Virginia increased by 5,900 jobs (0.1 percent) in March. The unemployment rate edged up slightly to 3.2 percent.

Labor Market Conditions

"Reports on Virginia's labor market were mixed in March. Payroll employment increased slightly in the month, but the labor force contracted and the unemployment rate edged higher." – Joseph Mengedoth
Total payroll employment in Virginia increased by 5,900 jobs (0.1 percent), on net, in March. The largest job gains in the month came from construction (7,200 jobs) and education and health services (2,200 jobs). Those gains and other smaller gains in some industries were largely offset by declines in professional and business services (4,400 jobs) and government (2,400) jobs.
On a year-over-year basis, payroll employment increased by 48,300 jobs (1.1 percent), on net. Since last March, the most jobs were added in education and health services (30,000 jobs) and the government sector (11,300 jobs).
The unemployment rate in Virginia edged up slightly to 3.2 percent in March, as the number of unemployed increased by 5,000 people and the labor force contracted 0.2 percent.

New residential permits in March 2025 increased by 6.6 percent from February 2025. Compared to March 2024, the number of residential permits issued has increased by 7.7 percent.
According to the Federal Housing Finance Agency, home values in Virginia appreciated by 0.7 percent in Q4 of 2024 when compared to Q3 of 2024. Furthermore, values appreciated by 6.9 percent in Q4 of 2024 compared to Q4 of 2023.

Snapshot Resources

Joseph Mengedoth