Overall unemployment rate moved up to 3.0% with the biggest shift in Government, which lost 2,500 roles, based on the most recently available information published in August 2022.
Total employment in the Blacksburg-Christiansburg-Radford, VA market declined by 2,305 jobs in June and the unemployment rate increased compared to the prior month by 10 bps to 3.0%. The national unemployment rate increased by 46 bps over the same time to 3.8%.
- Blacksburg-Christiansburg-Radford, VA unemployment rate is 84 bps below the national rate which is a positive sign.
- Unemployment in the market is 130 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in June versus prior month by 7.5% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -10.1%. Key sectors include:
- Government: 22,200; -2,500
Data is based on the most recent 12 months available, through June 2022 (Data published August 2022 and reports created on August 3, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.