Richmond, VA Jobs Report
This month of job gains missed predictions, adding 245,000 jobs this month. November’s unemployment rate also improved slightly to 6.7% from the 6.9% reported in October. With the rise of COVID-19 cases, there have been renewed restrictions that are weighing on the rate of recovery in the labor market.
712,000 workers filed jobless claims last week, the Department of Labor said Thursday, as the coronavirus pandemic continues to take a toll on the labor market. “While a repeat of the spring crash is unlikely, it revealed how quickly economic damage can accumulate,” said Glassdoor senior economist Daniel Zhao. The labor force participation rate declined to 61.5 percent last month, down from 61.7 percent in October.
*The following chart displays the latest local job growth by sector compared to the previous month. Note that if a sector experienced losses or flat growth, it will not be displayed as part of the graphic.
BLS.gov cannot vouch for the data or analyses derived from these data after the data have been retrieved from BLS.gov.