Virginia’s Seasonally Adjusted Unemployment Rate Increased 0.7 Percentage Point in March to 3.3 Percent

RICHMOND — Virginia’s seasonally adjusted unemployment rate increased 0.7 percentage point in March to 3.3 percent, which is 0.4 percentage point above the rate from a year ago. According to household survey data in March, the labor force declined, after twenty consecutive months of growth, by 32,709, or 0.7 percent, to end at 4,429,864, as the number of unemployed residents increased by 29,709. The number of employed residents decreased by 62,418 to end at 4,282,906. Virginia’s seasonally adjusted unemployment rate continues to be below the national rate, which was higher at 4.4 percent.

Virginia nonagricultural wage and salary employment, from the monthly establishment survey, decreased by 28,600 jobs in March to 4,071,300. February’s preliminary estimates were revised downward 6,900. In March, private sector employment decreased by 27,600 jobs to 3,338,400, while public sector payrolls decreased by 1,000 jobs to 732,900.

From February 2020 to March 2020, seasonally adjusted employment increased in three major industry divisions and decreased in eight. The largest job gain during March occurred in finance with a gain of 800 jobs to 218,200. Other employment gains included miscellaneous services (+300 jobs) to 202,900 and trade and transportation (+100 jobs) to 662,100. The largest loss during March occurred in leisure and hospitality (-14,800 jobs) to 408,600. The second largest loss was private education and health services (-7,100 jobs) to 554,500. The third largest employment loss was professional and business services (-4,700 jobs) to 772,700. Other job losses occurred in: government (-1,000 jobs) to 732,900, manufacturing (-1,000 jobs) to 240,700, information (-700 jobs) to 67,800, construction (-400 jobs) to 203,200, and mining, (-100 jobs) to 7,700. For total government, gains occurred in federal government (+400 jobs) and state government (+100 jobs) while local government declined 1,500 jobs.

Nonfarm Employment in Virginia*
Seasonally Adjusted

*Current month’s estimates are preliminary.

From March 2019 to March 2020, BLS estimates that establishments in Virginia added 22,700 jobs, or 0.6 percent. Over-the-year employment growth in Virginia has been positive for 72 consecutive months. In March, the private sector recorded an over-the-year gain of 17,000 jobs, while employment in the public sector added 5,700 jobs.

Compared to a year ago, on a seasonally adjusted basis, seven of the eleven major industry divisions experienced employment gains, while four experienced employment losses. The largest over-the-year job gain occurred in professional and business services, up 11,400 jobs (+1.5 percent). The next largest over-the-year job gain occurred in finance, up 7,300 jobs (+3.5 percent). Government experienced the third largest over-the-year job gain of 5,700 jobs (+0.8 percent). Within government, there were increases in federal government employment (2,400 jobs), state government employment (2,300 jobs), and local government employment (1,000 jobs). Other gains were in: private education and health services, up 2,300 jobs (+0.4 percent); trade and transportation, up 1,500 jobs (+0.2 percent); miscellaneous services, up 1,100 jobs (+0.5 percent); and construction, up 300 jobs (+0.1 percent). Job losses occurred in: manufacturing, down 3,700 jobs (-1.5 percent); leisure and hospitality, down 2,800 jobs (-0.7 percent); mining, down 300 jobs (-3.8 percent); and information, down 100 jobs (-0.1 percent).

Total Nonfarm Employment in Virginia*
Seasonally Adjusted

*Current month’s estimates are preliminary.

Seasonally adjusted total nonfarm employment data is produced for ten metropolitan areas. In March, one metropolitan areas experienced over-the-month job gains, and nine experienced job loss. The only absolute job gain occurred in Charlottesville (+200 jobs). The largest absolute job loss occurred in Northern Virginia (-15,300 jobs). The second largest job loss occurred in Richmond (-5,500 jobs). The third largest job loss occurred in Virginia Beach-Norfolk-Newport News (-4,100 jobs). Other job losses were: Winchester (-1,800 jobs), Blacksburg-Christiansburg-Radford (-1,200jobs), Staunton-Waynesboro (-900 jobs), Roanoke (-600 jobs), Harrisonburg (-300), and Lynchburg (-100 jobs).

Over the year, seasonally adjusted total nonfarm employment increased in four of the ten metropolitan areas. The Northern Virginia metropolitan area experienced the largest absolute job gain, up 12,100 jobs (+0.8 percent). Richmond ranked second, with a gain of 6,800 jobs (+1.0 percent). The other over-the-year job gains occurred in Charlottesville (+2,600 jobs), and Harrisonburg (+400 jobs). The largest job loss occurred in Blacksburg-Christiansburg-Radford (-1,600 jobs). The second largest job loss occurred in Virginia Beach-Norfolk-Newport News (-1,400 jobs). Other job losses occurred in: Lynchburg (-1,300 jobs), Roanoke (-1,100 jobs), Winchester (-600 jobs), and Staunton (-400 jobs).

Not Seasonally Adjusted Data

Virginia’s unadjusted unemployment rate rose 0.5 percentage point in March to 3.3 percent, and was up 0.3 percentage point from a year ago. Compared to a year ago, the number of unemployed increased by 15,046, household employment increased by 32,999, and the labor force increased by 48,045. Virginia’s not seasonally adjusted unemployment rate continues to be below the national unadjusted rate, which increased 0.7 percentage point in March to 4.5 percent.

Compared to last month, the March unadjusted workweek for Virginia’s 162,900 manufacturing production workers decreased by 0.2 hour to 39.4 hours, average hourly earnings increased $0.18 to $19.42, while average weekly earnings rose $3.25 to $765.15. Compared to last March, the unadjusted workweek decreased by 0.1 hour, average hourly earnings decreased by $0.26, and average weekly earnings were lower by $12.21.

Technical note: Estimates of unemployment and industry employment levels are obtained from two separate monthly surveys. Resident employment and unemployment data are mainly derived from the Virginia portion of the national Current Population Survey (CPS), a household survey conducted each month by the U.S. Census Bureau under contract with BLS, which provides input to the Local Area Unemployment Statistics (LAUS) program (often referred to as the “household” survey). Industry employment data is mainly derived from the Current Employment Statistics (CES) survey, a monthly survey of approximately 18,000 Virginia businesses conducted by BLS, which provides estimates of employment, hours, and earnings data broken down by industry for the nation as a whole, all states and most major metropolitan areas (often referred to as the “establishment” survey). Both industry and household estimates are revised each month based on additional information from updated survey reports compiled by the BLS.

Note that the March survey reference periods for both surveys predated many coronavirus-related business and school closures that occurred in the second half of the month.

The statistical reference week for the household survey this month was the week of March 8-14, 2020.

Files detailing March’s unemployment numbers are available below: