RICHMOND VA – (ROCKTOWN NOW) – Governor Glenn Youngkin announced on Tuesday that Virginia’s labor force has seen a significant increase, according to a recent household survey. The labor force grew by over 3,600 individuals, bringing the total to more than 4.5 million. Despite this growth, Virginia’s seasonally adjusted unemployment rate remained steady at 2.9% in October, a figure that is a tenth of a percent lower than the same time last year. The mixed job growth for the month included an increase of over 1,400 employed Virginians, although non-farm payrolls experienced a slight decrease of around 3,000 jobs.

Governor Youngkin highlighted the positive economic outlook in his news release, noting that Virginia has secured over $85 billion in capital commitments from companies either based in or relocating to the state. “Job opportunities continue to abound,” Youngkin stated, emphasizing the state’s ongoing efforts to attract and retain businesses. The steady unemployment rate and the influx of capital commitments suggest a resilient job market in Virginia, despite the mixed job growth figures. The state’s economic development initiatives appear to be fostering a favorable environment for both job seekers and employers.

Find more details on the labor market and economic developments in Virginia here.