Richmond, VA Jobs Report

July 2020 Jobs Report

Jobs Added

Metro +11,800
  • Month Over Month: +1.9%
  • 3 Month Average: -15,767
  • Year Over Year: -7.9%
State +63,500
  • Month Over Month: +1.7%
  • 3 Month Average: -105,633
  • Year Over Year: -7.6%
National +1,763,000
  • Month Over Month: +1.3%
  • 3 Month Average: 3,093,000
  • Year Over Year: -7.5%

Unemployment Rate

Metro 9.2%
  • Month Over Month: -0.2%
  • 3 Month Average: 9.93%
  • Year Over Year: +6.1%
State 8.4%
  • Month Over Month: -0.6%
  • 3 Month Average: 9.53%
  • Year Over Year: +5.6%
National 10.2%
  • Month Over Month: -0.9%
  • 3 Month Average: 11.53%
  • Year Over Year: +6.5%

Surprisingly, the unemployment rate fell to 10.2 percent this month. It is estimated that 42 percent of the jobs lost since the pandemic hit had now been recovered, but the remainder would be harder to make up.

The number of jobs added topped estimates, and the unemployment rate fell more than expected, but the number added was down from the record 4.8 million added during June.

Average hourly wages unexpectedly rose on a month over month basis by 0.2%, following a revised 1.3% decline in June due to the effects as low-wage workers reentered the workforce following shutdowns.

Sector Job Growth from the B.L.S.

Financial Activities +400
  • Month Over Month: +0.7%
  • 3 Month Average: 55
  • Year Over Year: +3.2%
Professional & Business Services -100
  • Month Over Month: -0.1%
  • 3 Month Average: 113
  • Year Over Year: -4.9%

Industry Job Growth from the B.L.S.

Finance & Insurance -1,600
  • Month Over Month: -1.0%
  • 3 Month Average: 159
  • Year Over Year: +1.2%
Real Estate & Rental & Leasing -1,700
  • Month Over Month: -3.2%
  • 3 Month Average: 53
  • Year Over Year: -8.5%
Accounting & bookkeeping services +900
  • Month Over Month: +0.1%
  • 3 Month Average: 1,010
  • Year Over Year: -1.7%
Employment Services -400
  • Month Over Month: -2.0%
  • 3 Month Average: 18
  • Year Over Year: -15.6%

Metropolitan Month-Over Month Job Growth by Sector

*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.

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