For Almost 50 years Virginia’s Unemployment Rate Has Been Better Than the US Average

By Sam Stebbins Published Dec 27, 10:45AM EST

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For Almost 50 years Virginia’s Unemployment Rate Has Been Better Than the US Average — © Kyle Little / iStock via Getty Images

In an era of economic uncertainty, the U.S. job market remains resilient. After falling to 3.7% in November 2023, the national unemployment rate has been below 4% for 22 consecutive months, the longest streak in over 50 years.

Of course, if history is any guide, much of the economy is subject to boom and bust cycles — and the job market is no exception. Since the mid-1970s, the average annual unemployment rate in the U.S. has fluctuated between 3.6% and nearly 10%, according to the Bureau of Labor Statistics.

These same cyclical patterns are also evident in Virginia, where the job market is supported largely by the professional and scientific and retail trade industries. The annual unemployment rate in the state was 2.9% in 2022, only slightly higher than the state’s lowest on record annual jobless rate of 2.3%. However, conditions for job seekers have not always been so favorable.

According to historical BLS data going back to 1976, the annual jobless rate has been as high as 7.4% in Virginia. More than once, unemployment in the state has either matched or come close to that peak.

This is how Virginia’s job market has changed in each of the last 47 years.

1976: 5.9% unemployment

Avg. unemployment rate: 5.9% (7.7% nationwide)
Labor force participation rate: 65.4% (61.6% nationwide)
Unemployed population in Virginia: 138,261

1977: 5.5% unemployment

Avg. unemployment rate: 5.5% (7.1% nationwide)
Labor force participation rate: 65.5% (62.3% nationwide)
Unemployed population in Virginia: 130,967

1978: 5.3% unemployment

Avg. unemployment rate: 5.3% (6.1% nationwide)
Labor force participation rate: 66.2% (63.2% nationwide)
Unemployed population in Virginia: 131,093

1979: 4.7% unemployment

Avg. unemployment rate: 4.7% (5.8% nationwide)
Labor force participation rate: 66.2% (63.7% nationwide)
Unemployed population in Virginia: 119,908

1980: 5.2% unemployment

Avg. unemployment rate: 5.2% (7.1% nationwide)
Labor force participation rate: 65.9% (63.8% nationwide)
Unemployed population in Virginia: 130,561

1981: 6.0% unemployment

Avg. unemployment rate: 6.0% (7.6% nationwide)
Labor force participation rate: 66.0% (63.9% nationwide)
Unemployed population in Virginia: 155,509

1982: 7.4% unemployment

Avg. unemployment rate: 7.4% (9.7% nationwide)
Labor force participation rate: 66.4% (64.0% nationwide)
Unemployed population in Virginia: 198,076

1983: 6.4% unemployment

Avg. unemployment rate: 6.4% (9.6% nationwide)
Labor force participation rate: 66.8% (64.0% nationwide)
Unemployed population in Virginia: 172,599

1984: 5.1% unemployment

Avg. unemployment rate: 5.1% (7.5% nationwide)
Labor force participation rate: 67.7% (64.4% nationwide)
Unemployed population in Virginia: 142,557

1985: 5.5% unemployment

Avg. unemployment rate: 5.5% (7.2% nationwide)
Labor force participation rate: 68.0% (64.8% nationwide)
Unemployed population in Virginia: 155,189

1986: 5.0% unemployment

Avg. unemployment rate: 5.0% (7.0% nationwide)
Labor force participation rate: 67.9% (65.3% nationwide)
Unemployed population in Virginia: 144,482

1987: 4.3% unemployment

Avg. unemployment rate: 4.3% (6.2% nationwide)
Labor force participation rate: 68.3% (65.6% nationwide)
Unemployed population in Virginia: 125,312

1988: 3.9% unemployment

Avg. unemployment rate: 3.9% (5.5% nationwide)
Labor force participation rate: 68.8% (65.9% nationwide)
Unemployed population in Virginia: 120,274

1989: 3.9% unemployment

Avg. unemployment rate: 3.9% (5.3% nationwide)
Labor force participation rate: 69.2% (66.5% nationwide)
Unemployed population in Virginia: 122,211

1990: 4.5% unemployment

Avg. unemployment rate: 4.5% (5.6% nationwide)
Labor force participation rate: 69.5% (66.5% nationwide)
Unemployed population in Virginia: 142,633

1991: 5.9% unemployment

Avg. unemployment rate: 5.9% (6.8% nationwide)
Labor force participation rate: 70.4% (66.2% nationwide)
Unemployed population in Virginia: 192,112

1992: 6.3% unemployment

Avg. unemployment rate: 6.3% (7.5% nationwide)
Labor force participation rate: 70.6% (66.4% nationwide)
Unemployed population in Virginia: 208,791

1993: 5.2% unemployment

Avg. unemployment rate: 5.2% (6.9% nationwide)
Labor force participation rate: 69.4% (66.3% nationwide)
Unemployed population in Virginia: 174,372

1994: 4.9% unemployment

Avg. unemployment rate: 4.9% (6.1% nationwide)
Labor force participation rate: 69.4% (66.6% nationwide)
Unemployed population in Virginia: 164,850

1995: 4.5% unemployment

Avg. unemployment rate: 4.5% (5.6% nationwide)
Labor force participation rate: 69.2% (66.6% nationwide)
Unemployed population in Virginia: 153,290

1996: 4.4% unemployment

Avg. unemployment rate: 4.4% (5.4% nationwide)
Labor force participation rate: 68.1% (66.8% nationwide)
Unemployed population in Virginia: 149,190

1997: 3.8% unemployment

Avg. unemployment rate: 3.8% (4.9% nationwide)
Labor force participation rate: 67.7% (67.1% nationwide)
Unemployed population in Virginia: 128,363

1998: 2.9% unemployment

Avg. unemployment rate: 2.9% (4.5% nationwide)
Labor force participation rate: 67.7% (67.1% nationwide)
Unemployed population in Virginia: 97,456

1999: 2.7% unemployment

Avg. unemployment rate: 2.7% (4.2% nationwide)
Labor force participation rate: 67.8% (67.1% nationwide)
Unemployed population in Virginia: 95,927

2000: 2.3% unemployment

Avg. unemployment rate: 2.3% (4.0% nationwide)
Labor force participation rate: 68.0% (67.1% nationwide)
Unemployed population in Virginia: 81,909

2001: 3.2% unemployment

Avg. unemployment rate: 3.2% (4.7% nationwide)
Labor force participation rate: 68.4% (66.8% nationwide)
Unemployed population in Virginia: 121,438

2002: 4.2% unemployment

Avg. unemployment rate: 4.2% (5.8% nationwide)
Labor force participation rate: 68.6% (66.6% nationwide)
Unemployed population in Virginia: 162,969

2003: 4.1% unemployment

Avg. unemployment rate: 4.1% (6.0% nationwide)
Labor force participation rate: 68.4% (66.2% nationwide)
Unemployed population in Virginia: 163,214

2004: 3.8% unemployment

Avg. unemployment rate: 3.8% (5.5% nationwide)
Labor force participation rate: 67.9% (66.0% nationwide)
Unemployed population in Virginia: 156,108

2005: 3.6% unemployment

Avg. unemployment rate: 3.6% (5.1% nationwide)
Labor force participation rate: 68.5% (66.0% nationwide)
Unemployed population in Virginia: 149,962

2006: 3.1% unemployment

Avg. unemployment rate: 3.1% (4.6% nationwide)
Labor force participation rate: 68.7% (66.2% nationwide)
Unemployed population in Virginia: 132,218

2007: 3.0% unemployment

Avg. unemployment rate: 3.0% (4.6% nationwide)
Labor force participation rate: 69.0% (66.0% nationwide)
Unemployed population in Virginia: 132,788

2008: 3.9% unemployment

Avg. unemployment rate: 3.9% (5.8% nationwide)
Labor force participation rate: 69.7% (66.0% nationwide)
Unemployed population in Virginia: 175,866

2009: 6.7% unemployment

Avg. unemployment rate: 6.7% (9.3% nationwide)
Labor force participation rate: 68.9% (65.4% nationwide)
Unemployed population in Virginia: 282,835

2010: 7.1% unemployment

Avg. unemployment rate: 7.1% (9.6% nationwide)
Labor force participation rate: 67.8% (64.7% nationwide)
Unemployed population in Virginia: 304,827

2011: 6.6% unemployment

Avg. unemployment rate: 6.6% (8.9% nationwide)
Labor force participation rate: 67.4% (64.1% nationwide)
Unemployed population in Virginia: 276,176

2012: 6.1% unemployment

Avg. unemployment rate: 6.1% (8.1% nationwide)
Labor force participation rate: 66.7% (63.7% nationwide)
Unemployed population in Virginia: 250,378

2013: 5.7% unemployment

Avg. unemployment rate: 5.7% (7.4% nationwide)
Labor force participation rate: 66.4% (63.2% nationwide)
Unemployed population in Virginia: 236,320

2014: 5.2% unemployment

Avg. unemployment rate: 5.2% (6.2% nationwide)
Labor force participation rate: 66.1% (62.9% nationwide)
Unemployed population in Virginia: 217,948

2015: 4.5% unemployment

Avg. unemployment rate: 4.5% (5.3% nationwide)
Labor force participation rate: 65.2% (62.7% nationwide)
Unemployed population in Virginia: 185,900

2016: 4.1% unemployment

Avg. unemployment rate: 4.1% (4.9% nationwide)
Labor force participation rate: 65.0% (62.8% nationwide)
Unemployed population in Virginia: 169,526

2017: 3.7% unemployment

Avg. unemployment rate: 3.7% (4.4% nationwide)
Labor force participation rate: 65.7% (62.9% nationwide)
Unemployed population in Virginia: 159,687

2018: 3.0% unemployment

Avg. unemployment rate: 3.0% (3.9% nationwide)
Labor force participation rate: 65.3% (62.9% nationwide)
Unemployed population in Virginia: 130,779

2019: 2.8% unemployment

Avg. unemployment rate: 2.8% (3.7% nationwide)
Labor force participation rate: 65.7% (63.1% nationwide)
Unemployed population in Virginia: 122,471

2020: 6.2% unemployment

Avg. unemployment rate: 6.2% (8.1% nationwide)
Labor force participation rate: 64.2% (61.7% nationwide)
Unemployed population in Virginia: 280,533

2021: 3.9% unemployment

Avg. unemployment rate: 3.9% (5.3% nationwide)
Labor force participation rate: 63.7% (61.7% nationwide)
Unemployed population in Virginia: 168,742

2022: 2.9% unemployment

Avg. unemployment rate: 2.9% (3.6% nationwide)
Labor force participation rate: 64.9% (62.2% nationwide)
Unemployed population in Virginia: 127,053

Year	Virginia unemployment rate	U.S. unemployment rate	Unemployed population in Virginia
1976	5.9	7.7	138,261
1977	5.5	7.1	130,967
1978	5.3	6.1	131,093
1979	4.7	5.8	119,908
1980	5.2	7.1	130,561
1981	6.0	7.6	155,509
1982	7.4	9.7	198,076
1983	6.4	9.6	172,599
1984	5.1	7.5	142,557
1985	5.5	7.2	155,189
1986	5.0	7.0	144,482
1987	4.3	6.2	125,312
1988	3.9	5.5	120,274
1989	3.9	5.3	122,211
1990	4.5	5.6	142,633
1991	5.9	6.8	192,112
1992	6.3	7.5	208,791
1993	5.2	6.9	174,372
1994	4.9	6.1	164,850
1995	4.5	5.6	153,290
1996	4.4	5.4	149,190
1997	3.8	4.9	128,363
1998	2.9	4.5	97,456
1999	2.7	4.2	95,927
2000	2.3	4.0	81,909
2001	3.2	4.7	121,438
2002	4.2	5.8	162,969
2003	4.1	6.0	163,214
2004	3.8	5.5	156,108
2005	3.6	5.1	149,962
2006	3.1	4.6	132,218
2007	3.0	4.6	132,788
2008	3.9	5.8	175,866
2009	6.7	9.3	282,835
2010	7.1	9.6	304,827
2011	6.6	8.9	276,176
2012	6.1	8.1	250,378
2013	5.7	7.4	236,320
2014	5.2	6.2	217,948
2015	4.5	5.3	185,900
2016	4.1	4.9	169,526
2017	3.7	4.4	159,687
2018	3.0	3.9	130,779
2019	2.8	3.7	122,471
2020	6.2	8.1	280,533
2021	3.9	5.3	168,742
2022	2.9	3.6	127,053

About the Author Sam Stebbins →

Sam Stebbins is a writer at a673b.bigscoots-temp.com where his primary focus is on government policy, politics, companies, and broad social and economic trends. Sam has been writing in the money and news verticals for over 8 years and holds a bachelor's degree from Hobart College, which he earned in 2010. Sam resides in upstate New York and enjoys hiking, biking, canoeing, and skiing in the Adirondack Mountains and across the Northeast.