RICHMOND, Va. (WDBJ/Youngkin Team Release) – Gov. Glenn Youngkin’s team said Tuesday that Virginia’s job growth was 28% higher than before the 2019 pandemic.
The governor’s team says average job growth in 2022 was 9,000 a month.
“Throughout our first year of administration, Virginia’s job growth has been overwhelmingly led by the private sector — which provided 86 percent of annual job growth — with our valuable defense and public sectors also continuing to be strong contributors,” Gov. Glenn Youngkin said.
An employment report from the Bureau of Labor Statistics Local Area Unemployment Statistics showed that the number of employed Virginia residents increased by more than 4,400 to a total of 4,228,407 in December and the employed population in Virginia increased by 9,611 to a total of 4,357,319.
“This encouraging report showed thousands of Virginians are leaving the sidelines and returning to the workforce. We remain focused on improving Virginia’s competitive profile among states competing for jobs and businesses. As Virginia businesses continue to raise their payrolls and boost our economy, we must keep moving forward to lower the cost of living and the cost of doing business in the Commonwealth,” Governor Youngkin said.
The Commonwealth labor force participation rate rose to 63.7 percent in December. The labor force participation rate measures the proportion of the civilian population aged 16 and over who is employed or actively looking for work.
“Nearly 10,000 Virginians entered the workforce in December,” Labor Secretary Bryan Slater said. “This was the biggest increase since May last year and a promising sign that more people are returning from the sidelines into the workforce as the new year begins.”
From January 2022 to December 2022, the VEC estimates that Virginia operations added 104,300 jobs, an increase of 2.6 percent. The private sector recorded an increase of 82,100 jobs, while public sector employment increased by 22,200 jobs.
In the same period from January 2022 to December 2022, ten out of eleven major industries recorded a seasonally adjusted recovery in employment levels, while one industry recorded a decline. The largest increases during this period were in education and healthcare with 26,900 jobs (+4.9%). The second increase was in government with an increase of 22,200 jobs (+3.1%). The third largest increase was in the leisure and hospitality sector with an increase of 20,500 jobs (+5.3%). There were further job gains in professional and business services (+10,300 jobs), trade, transport and utilities (+6,400 jobs), construction (+6,000 jobs), other services (+5,200 jobs), manufacturing (+5,100 jobs), information (+3,300 jobs) and mining and logging (+400 jobs). The only job cuts were in finance (-2,000 jobs).
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