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Jobless rate in Richmond region fell in November

January 5, 2012
By John Reid Blackwell / Richmond Times-Dispatch

Unemployment rates declined in the Richmond region and Virginia's other metropolitan areas in November.

In the Richmond area, the jobless rate fell to 6.6 percent in November from 6.8 percent in October, according to seasonally unadjusted figures released Wednesday by the Virginia Employment Commission. The seasonally unadjusted rate a year ago November was 7.5 percent.

The seasonally unadjusted statewide rate for November, which the commission reported two weeks ago, stood at 5.7 percent.

When adjusted to account for seasonal factors such as holiday hiring, the jobless rate declined to 7.1 percent in November from 7.5 percent in October, according to calculations by Chmura Economics & Analytics in Richmond.

The seasonally adjusted rate was down a full percentage point from November 2011.

"This is good news that the economy made some progress in terms of its recovery in November," said Christine Chmura, president of the research firm. "Similar to the nation, we are starting to see some improvement in the labor market, which bodes well for the overall economy."

Still, the government figures indicate the region remains in an uphill climb to recover lost jobs.

Total payroll jobs in the area fell about 6,000 from November 2010 to November 2011.

"Richmond has been struggling to recover," said Ann Lang, senior economist for the commission, noting that the gap in year-over-year payroll employment had been narrowing in the three months prior to November, but widened again during that month.

And while the total number of unemployed people declined year-over-year and from October to November, the region's labor force also shrank, indicating fewer people seeking work.

Among the 49 largest metropolitan areas in the nation, the Richmond area was tied with three others for the sixth-lowest jobless rate in November.

The city of Martinsville's jobless rate remained the highest in Virginia in November. The city's seasonally unadjusted unemployment rate was 15.6 percent, up from 15.2 percent in October and down from 17.5 percent a year ago, the commissions said.

Northern Virginia's Arlington County had the state's lowest jobless rate with 3.3 percent, followed by Loudoun County's 3.9 percent.

 

Copyright Richmond Times-Dispatch. Used by permission.

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