Virginia’s unemployment rate drops

Virginia’s Employment Commission today released figures regarding the Commonwealth’s unemployment outlook in January. Virginia’s unemployment rate took a drop and remains below national rates.

March 13, 2012; 1:41 PM • by RVANews staff

Virginia’s unemployment rate dropped to 5.8% in January. The lowest rate in the Commonwealth in two years, the current unemployment rate remains below January’s national unemployment rate of 8.3% The announcement came today from the Virginia Employment Commission and reflects seasonally-adjusted figures (PDF).

At it’s peak in January 2010 (7.3%), the Commonwealth’s unemployment rate has steadily declined over the last two years, with the exception of slight upticks in June and July 2011. The number of Virginians receiving regular unemployment benefit payments in January 2012 was 65,508, down from 81,851 in January 2011.

The seasonally-adjusted figures do not take into account those unemployed as a result of their seasonal positions ending. Taking those individuals into account, the state’s unemployment rate is 6.0%, which is still below the national unadjusted unemployment rate of 8.8%.

stock photo by Mel Kobran