by James A. Bacon

The latest Bureau of Labor Statistics data highlight significant gains in employment and labor-force growth in the Commonwealth, said the Governor’s Office in a press release this morning. The data, said the statement, underscores Virginia’s “resilient and dynamic labor market.”
Unemployment dipped slightly to 3.0%, 1.1 percentage points below the national rate of 4.1%. The labor-force participation rate of 66.0% remained significantly higher than the 62.5% national participation rate.
โVirginiaโs labor market continues to demonstrate resilience and growth, with a strong increase in nonfarm payrolls, a growing labor force, and low unemployment,โ said a statement attributed to Governor Glenn Youngkin. โOur commitment to business-friendly policies, reducing costs, and fostering innovation has created an environment where both Virginia companies and Virginians can thrive.โ
Look, this is modestly good news, and I don’t want to rain on anyone’s parade. I think Youngkin’s pro-business policies are beneficial. I would love to credit them for the positive economic results. And if I had to wager, I would bet that the numbers would support the proposition that Youngkin has been a better steward of the economy than his predecessor Ralph Northam.
But these numbers by themselves don’t prove anything.
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