Jobs coming back: Unemployment rate drops

Virginia’s adding jobs, and that’s good for the Commonwealth’s housing markets.

According to data released this week by the Virginia Employment Commission, from March to April the state’s unemployment rate dropped almost a full point to a reading of 6.7 percent. Even better: All 11 Virginia metro areas saw a decline in their regional unemployment rate.

Home prices in the Commonwealth are being dragged down by the foreclosure crisis, which is now being perpetuated by widespread joblessness created by the global recession. Experts agree that the housing market will stabilize and home values will increase as more people find jobs.

By comparison, the national unemployment rate is 9.7 percent.

Read more about Virginia’s employment numbers:

(photo credit)

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2 Responses to Jobs coming back: Unemployment rate drops

  1. Ben – Almost all of the job growth on a National level was from the hiring of temporary Census workers. I’d be curious to see what the percentages look like locally in markets like Virginia.

  2. Ginny says:

    I have friends that live in Virgina and yes they are doing a little better than us here in Michigan. This is far from over!

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