Overall unemployment rate moved down to 4.6% with the biggest shift in Government, which lost 4,300 roles, based on the most recently available information published in September 2021.
Total employment in the Virginia Beach-Norfolk-Newport News, VA-NC market rose by 9,864 jobs in July and the unemployment rate decreased compared to the prior month by 40 bps to 4.6%. The national unemployment rate decreased by 43 bps over the same time to 5.7%.
- Virginia Beach-Norfolk-Newport News, VA-NC unemployment rate is 106 bps below the national rate which is a positive sign.
- Unemployment in the market is 490 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in July versus prior month by 2.3% and are up compared to last year at this time in the market.
Month over Month Unemployment Change
Year over Year Unemployment Change
For key employment segments of the market, total jobs declined by -0.3%. Key sectors include:
- Government: 151,200; -4,300
- Transportation & Utilities: 132,000; -500
- Business Services: 117,100; -300
- Education & Healthcare: 104,800; -200
- Restaurants & Hotels: 89,600; +3,200
- Manufacturing: 55,300; -500
- Construction, Mining: 40,800; +200
- Financial Services: 38,500; -100
- Other Jobs: 32,600; no change
- IT & Development: 9,100; no change
Employment Change by Key Sector
Data is based on the most recent 12 months available, through July 2021 (Data published September 2021 and reports created on September 1, 2021). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.