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Virginia

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Employment in Virginia was little changed in April, up 1,400 jobs (0.0 percent). The unemployment rate came in 0.1 percentage point lower at 3.1 percent.

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Labor market icon showing three people Labor Market Conditions

  • Total payroll employment in Virginia was little changed on net in April, gaining 1,400 jobs (0.0 percent). The most jobs were added over the month in leisure and hospitality (2,700 jobs) and financial activities (2,300 jobs), while the most jobs were lost in professional and business services (4,600 jobs).
  • Since April 2022, Virginia employment was up by 87,000 jobs (2.1 percent), on net. Employment was 1.2 percent higher than its pre-pandemic level from February 2020. Jobs were added over the year in all sectors except trade, transportation, and utilities, which lost 100 jobs. The most jobs were added in leisure and hospitality (24,400 jobs) and education and health services (23,500 jobs).
  • The unemployment rate in Virginia edged down 0.1 percentage point to 3.1 percent from March to April but was up 0.5 percentage point on a year-over-year basis. The unemployment rate was 0.2 percentage point higher than 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 down 19.7 percent from March to April and was down 22.6 percent on a year-over-year basis.
  • According to the Federal Housing Finance Agency, home values in Virginia appreciated 9.3 percent from the first quarter of 2022 to the first 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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