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Virginia unemployment rate drops to 4.3%

By DAVID GRAVELY

editor@southwesttimes.com

Unemployment in the Commonwealth dropped to 4.3% for the month of June, compared to 8.8% one year ago. The new rate also represents a 0.2% drop in unemployment since the numbers were released in May.

The seasonally adjusted unemployment rate in Virginia also continues to be below the national rate of 5.8%.

“Virginia’s falling unemployment rate and expanding labor force show the strength of our economy and business climate,” said Governor Ralph Northam. “We continue to be recognized as best place in America to do business because we are building a Commonwealth where both workers and employers can thrive. We can all be optimistic about what the future holds as we move beyond this pandemic.”

Locally the news has also been positive as the strike at Volvo Trucks ended last week and Xaloy announced their return to Pulaski County. Other plans are also in the works to bring more jobs to Pulaski County in the near future.

The Commonwealth was recently recognized for a second year in a row as “America’s Top State for Business” according to CNBC. That title was earned after an extensive study of 85 district metrics across 10 competitive categories.

Virginia was also the recipient of this award in 2007, 2009, 2011 and 2019, passing Texas for earning the award for the most years of any state.

Pulaski County leaders have remained focused on drawing new businesses from around the country and from the international market. Currently there are businesses from nine international companies operating within Pulaski County, which also hosts an International Port of Entry and a Foreign Trade Zone located at the New River Valley Regional Airport in Dublin.

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