Covered Employment in Virginia
VACEMPLOY • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,873,450.00
Year-over-Year Change
-0.86%
Date Range
6/10/2006 - 8/2/2025
Summary
The Covered Employment in Virginia trend measures the total number of jobs covered by the state's unemployment insurance program. This metric is a key indicator of overall economic activity and labor market conditions in the Commonwealth.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
Covered employment data represents the number of workers who are covered by the state's unemployment insurance system, which includes most private-sector employees as well as some public-sector workers. This metric provides insight into the health and size of Virginia's labor force and serves as an important gauge of economic performance.
Methodology
The data is collected through employer reports to the Virginia Employment Commission.
Historical Context
Covered employment figures are closely monitored by policymakers, economists, and businesses to assess the broader economic environment and inform decision-making.
Key Facts
- Virginia's covered employment reached a record high of over 3.9 million jobs in 2019.
- The COVID-19 pandemic led to a 10% decline in covered employment in Virginia during 2020.
- Manufacturing accounts for about 8% of covered employment in the state.
FAQs
Q: What does this economic trend measure?
A: The Covered Employment in Virginia metric tracks the total number of jobs covered by the state's unemployment insurance program, providing insight into the size and health of the Commonwealth's labor force.
Q: Why is this trend relevant for users or analysts?
A: Covered employment data is a key indicator of economic activity and labor market conditions in Virginia, making it an important metric for policymakers, businesses, and economists to monitor.
Q: How is this data collected or calculated?
A: The data is collected through mandatory employer reports to the Virginia Employment Commission.
Q: How is this trend used in economic policy?
A: Covered employment figures are closely tracked by state and federal policymakers to assess the broader economic environment and inform decision-making, particularly around labor market and economic development policies.
Q: Are there update delays or limitations?
A: The covered employment data is published on a monthly basis, with a typical release lag of 2-3 months.
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Citation
U.S. Federal Reserve, Covered Employment in Virginia (VACEMPLOY), retrieved from FRED.