Overall unemployment rate moved down to 2.9% with the biggest shift in Government, which lost 1,000 roles, based on the most recently available information published in August 2022.
Total employment in the Roanoke, VA market declined by 466 jobs in June and the unemployment rate decreased compared to the prior month by 10 bps to 2.9%. The national unemployment rate increased by 46 bps over the same time to 3.8%.
- Roanoke, VA unemployment rate is 94 bps below the national rate which is a positive sign.
- Unemployment in the market is 140 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 3.3% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -0.5%. Key sectors include:
- Transportation & Utilities: 32,000; +200
- Education & Healthcare: 28,200; +100
- Business Services: 21,800; -600
- Government: 21,800; -1,000
- Restaurants & Hotels: 15,700; +300
- Manufacturing: 15,400; no change
- Construction, Mining: 9,400; +200
- Financial Services: 7,200; -100
- Other Jobs: 6,600; +100
- IT & Development: 1,200; no change
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.