Economic growth slowing slightly in Hampton Roads, report says

HAMPTON ROADS, Va. (WVEC) -- New data from the Bureau of Labor Statistics shows the overall size of the civilian labor force in Hampton Roads has declined.

The civilian labor force in the region went from 832,766 in October 2015 to 831,473 in October 2016 -- a decline of 1,293 workers.

Officials from the Center for Economic Analysis and Policy at Old Dominion University say the unemployment rate of 4.6 percent for the Hampton Roads region in October 2016 shows a slight increase from 4.5 percent in October 2015. The number of unemployed workers increased from 37,539 in October 2015 to 38,411 in October 2016.

In a report released earlier by the Bureau of Labor Statistics, data showed a slow recovery in jobs in Hampton Roads, according to the Center for Economic Analysis and Policy. The total number of jobs, in the region in October 2016 was estimated at 774,000 compared to 769,700 in October 2015. This shows a growth of 4,300 jobs or a yearly growth rate of 0.56% in total nonfarm payrolls from October 2015 to October 2016.

Officials say the data shows a slowing of economic growth in Hampton Roads in the second half of 2016.

ODU Center for Economic Analysis and Policy Unemployment and Labor Force Data by 13News Now on Scribd


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