Virginia’s unemployment rate fell to 5.3% in October

Virginia’s unemployment rate fell to 5.3% in October
New unemployment numbers from the Virginia Employment Commission show the status of economic recovery in Virginia. (Source: WVIR)

RICHMOND, Va. (WWBT) - Virginia’s unemployment rate improved in October as the commonwealth gained thousands of jobs in hospitality, transportation and other industries.

The Virginia Employment Commission, or VEC, reported the state’s unemployment rate fell to 5.3% in October, a decrease from 6.2% in September. The 0.9% job growth rate represents 34,000 jobs.

The largest job gain — 13,300 jobs — was in the leisure and hospitality industry. An additional 8,400 jobs were reported in trade and transportation. Professional and business services, education and health services, and construction industries also saw increases.

Virginia’s seasonally-adjusted unemployment rate is below the national rate, which fell to 6.9 percent in October.

From October 2019 to October 2020, the VEC estimates establishments in Virginia lost 164,800 jobs, a decrease of 4.1%.

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