Overall unemployment rate moved up to 2.9% with the biggest shift in Government, which lost 1,800 roles, based on the most recently available information published in June 2022.
Total employment in the Blacksburg-Christiansburg-Radford, VA market declined by 1,921 jobs in May and the unemployment rate increased compared to the prior month by 70 bps to 2.9%. The national unemployment rate increased by 4 bps over the same time to 3.4%.
- Blacksburg-Christiansburg-Radford, VA unemployment rate is 48 bps below the national rate which is a positive sign.
- Unemployment in the market is 60 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in May versus prior month by 10.9% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -6.8%. Key sectors include:
- Government: 24,700; -1,800
Data is based on the most recent 12 months available, through May 2022 (Data published June 2022 and reports created on June 29, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.