Jobs in Virginia Continue to Grow
Although the national economy has many worried, jobs in Virginia continued to grow. Between October of 2007 and 2008, employers in the Hampton Roads metro area caused the number of jobs in the city to increase by 1.8 percent, according to the U.S. Bureau of Labor Statistics. This caused the metro to be rated as the 4th major city area as far as job growth goes in the nation. The top three regions were all in Texas (San Antonio, Houston and Austin).
During the month of October, only 4.4 percent of those who are able to work in the state could not find a job, said the Bureau. This marks only a small increase of 0.1 percent from the previous months 4.3 percent unemployment rate. Nationally, 6.5 percent of American’s were with out work during October.
Over the course of the last 12 months, employers in the educational and healthcare services industry have increased the number of jobs they provide by 2.6 percent. Throughout the nation, this sector has been responsible for the creation of many jobs. Due to the fact that many of the services it provides are necessary to life, this sector industry has proven itself to be fairly recession proof.
Other industries that have seen an increase in jobs in Virginia includes the professional and businesses services sector, the government sector and the catch-all category of ‘other services’.
The industry in Virginia that has been responsible for the larges percent of job losses in the last year is construction. Employers in this sector have decreased the number of positions they provide by 2.8 percent. This mirrors countrywide statistics. With the housing market struggling, fewer new homes are being built, which drastically effects the number of jobs the industry can provide.
Manufacturing, trade, transportation and utilities, information, financial activities and leisure and hospitality employers all cut the number of jobs they provide in Virginia during the course of the last 12 months ending in October.
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