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Commonwealth's unemployment rate drops to 2.7%

Virginia has the lowest seasonally adjusted unemployment rate among the Southeast states.

RICHMOND, Va. — Governor Ralph Northam on Friday announced that Virginia’s seasonally adjusted unemployment rate decreased 0.1 percentage point in September to 2.7 percent.

It's down 0.1 percentage point from a year ago. 

Northam said in September, the labor force expanded for the fifteenth consecutive month by 10,132, or 0.2 percent, to set a new record high of 4,414,521, as the number of unemployed decreased by 3,555. Household employment increased by 13,687 to set a new high of 4,295,502. Virginia’s seasonally adjusted unemployment rate continues to be below the national rate, which decreased to 3.5 percent. 

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Virginia has the lowest seasonally adjusted unemployment rate among the Southeast states. Virginia has the third-best rate among the states east of the Mississippi. Virginia is ranked third in the nation for the seasonally adjusted unemployment rate along with Colorado, Hawaii, and Utah. 

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“I am pleased to see the Commonwealth’s unemployment rate drop to its lowest point in more than 18 years, a clear signal that our economy is strong and our efforts to attract 21st-century jobs to Virginia are paying off,” said Governor Northam. “With more and more companies from diverse industries choosing to locate and invest in Virginia, we are showing the country and the world exactly why we are the best state for business. My administration will stay focused on creating economic opportunity so that every Virginian can share in our success, no matter who they are or where in the Commonwealth they live.”

Click here for a greater from the Virginia Employment Commission.

Credit: artisteer