State jobless rate is falling, workforce still catching up

RICHMOND, Va. — Virginia’s unemployment rate has fallen significantly since the coronavirus pandemic had shut down much of the economy last year. But the state’s labor force is still slightly smaller than what it was before the pandemic began. The Richmond Times-Dispatch reports that Virginia’s unemployment rate peaked at 11.3% in April 2020. The rate fell to 3.4% by November of this year. At the same time, the number of people who are working or actively looking for work has not fully recovered. A report from Old Dominion University said numerous factors are likely at play. They include child care availability and health concerns regarding the coronavirus. More people are transitioning from one type of work to another. And there’s been an uptick in retirements. 

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