November Economic Indicators Remain Mixed

RICHMOND, VA - Virginia Governor Glenn Youngkin today announced the number of employed residents dropped by 7,426 in November and according to BLS Local Area Unemployment Statistics (“LAUS”, or “the household survey”), the labor force in Virginia showed little change, decreasing by 519 to 4,347,555. 

According to LAUS, the number of employed residents was 4,223,765 in November and since January 2022, over 85,000 more Virginians are employed. Virginia’s unemployment rate of 2.8 percent edged up 0.1 of a percentage point from October but remained below the national rate, which was unchanged at 3.7 percent. For November, the number of unemployed residents increased by 6,907 to 123,790 which is 15,000 lower than January. 

BLS publishes an additional employment figure from its Current Employment Statistics Survey (“CES” or “establishment survey”). Virginia CES employment fell by 2,200 jobs in November to 4,095,100, which is 102,000 more jobs than in January.

The CES survey uses payroll records of establishment employers and is designed to provide a count of jobs under which the employer pays unemployment insurance. The LAUS survey is based on household interviews conducted each month for the Bureau of Labor Statistics and provides comprehensive data on the labor force, including those who are employed and unemployed.

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