Economic Indicators Remain Mixed in October Employment Surveys

RICHMOND, VA — Virginia Governor Glenn Youngkin today announced the number of employed Virginians remained above 4.2 million workers in October 2022. According to BLS Local Area Unemployment Statistics (“LAUS”, or “the household survey”), the labor force in Virginia increased by 1,162 to 4,348,072. According to LAUS, the number of employed residents decreased in October by 2,503 to 4,231,191.

Since January, 92,673 more Virginians are employed. Virginia’s unemployment rate of 2.7 percent edged up 0.1 percent from September and is one percentage point below the national rate, which rose to 3.7 percent in October. Throughout the month, the number of unemployed residents increased by 3,665 to 116,881.

BLS publishes an additional employment figure from its Current Employment Statistics Survey (“CES” or “establishment survey”). Virginia CES employment rose by 6,900 jobs in October to 4,101,000.

The CES survey utilizes payroll records of establishment employers and is designed to provide a count of jobs under which the employer pays unemployment insurance. The LAUS survey is based on household interviews conducted each month for the Bureau of Labor Statistics and provides comprehensive data on the labor force, including those who are employed and unemployed.

The household survey only distinguishes between whether a person is employed or unemployed, whereas CES counts each employee that is on an employer’s payroll. CES excludes business owners, self-employed persons, unpaid volunteers and private household workers, and those on unpaid leave or not working because of a labor dispute.

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