Wednesday, July 26, 2023
Total nonfarm employment for the Richmond, VA, metropolitan area rose by 19,900 over the year in June, the U.S. Bureau of Labor Statistics reported today. (See chart 1 and table 1.) Regional Commissioner Alexandra Hall Bovee noted that the local rate of job gain, 2.9 percent, compared to the 2.4-percent national increase. (All data in this release are not seasonally adjusted; accordingly, over-the-year analysis is used throughout.)Industry employment
In Richmond, VA, leisure and hospitality had the largest gain (+5,800) among the metropolitan area’s private-industry supersectors. (See chart 2.) The local area’s 8.5-percent increase compared to the 4.7-percent rise on a national level.
Trade, transportation, and utilities added 5,400 jobs over the year in the metropolitan area. The metropolitan area had a 4.3-percent increase compared to the 0.7-percent rise for the nation.
The Metropolitan Area Employment and Unemployment release for July 2023 is scheduled to be released on Wednesday, August 30, 2023, at 10:00 a.m. (ET).
Effective with the release of January 2023 data, all nonfarm payroll employment estimates in this release have been adjusted to 2022 benchmark levels. Not seasonally adjusted data beginning with April 2021 and seasonally adjusted data beginning with January 2018 were subject to revision. Some not seasonally adjusted and seasonally adjusted series have been revised as far back as 1990.
In addition, the basis for industry classification in the establishment survey has been revised from the 2017 North American Industry Classification System (NAICS) to NAICS 2022. Implementation of NAICS 2022 resulted in revisions reflecting content and coding changes within the retail trade, information, and financial services sectors. The majority of the changes associated with the NAICS 2022 implementation impact levels of detail not published by CES State and Area. For more information about updated industry titles and new, discontinued, and collapsed industries resulting from the NAICS 2022 implementation, see the CES State and Area benchmark article.
This release presents nonfarm payroll employment estimates from the CES program. The CES survey is a Federal-State cooperative endeavor between State employment security agencies and the U.S. Bureau of Labor Statistics. More information about the CES data is available in the State Employment and Unemployment Summary and the Metropolitan Area Employment and Unemployment Summary.
Definitions. Employment data refer to persons on establishment payrolls who receive pay for any part of the pay period which includes the 12th of the month. Persons are counted at their place of work rather than at their place of residence; those appearing on more than one payroll are counted on each payroll. Industries are classified on the basis of their principal activity in accordance with the 2022 version of the North American Industry Classification System.
Method of estimation. CES State and Area employment data are produced using several estimation procedures. Where possible these data are produced using a "weighted link relative" estimation technique in which a ratio of current-month weighted employment to that of the previous-month weighted employment is computed from a sample of establishments reporting for both months. The estimates of employment for the current month are then obtained by multiplying these ratios by the previous month's employment estimates. The weighted link relative technique is utilized for data series where the sample size meets certain statistical criteria. For some employment series, the estimates are produced with a model that uses direct sample estimates (described above) combined with other regressors to compensate for smaller sample sizes.
Annual revisions. Employment estimates are adjusted annually to a complete count of jobs, called benchmarks, derived principally from tax reports which are submitted by employers who are covered under state unemployment insurance (UI) laws. The benchmark information is used to adjust the monthly estimates between the new benchmark and the preceding one and also to establish the level of employment for the new benchmark month. Thus, the benchmarking process establishes the level of employment, and the sample is used to measure the month-to-month changes in the level for the subsequent months. Information on recent benchmark revisions is available in the CES State and Area benchmark article.
Reliability of the estimates. The estimates presented in this release are based on sample surveys, administrative data, and modeling and, thus, are subject to sampling and other types of errors. Sampling error is a measure of sampling variability—that is, variation that occurs by chance because a sample rather than the entire population is surveyed. Survey data also are subject to nonsampling errors, such as those which can be introduced into the data collection and processing operations. Estimates not directly derived from sample surveys are subject to additional errors resulting from the specific estimation processes used. The sums of individual items may not always equal totals shown in the same tables due to rounding.
Employment estimates. Changes in metropolitan area nonfarm payroll employment are cited in the analysis of this release only if they have been determined to be statistically significant at the 90-percent confidence level. Reliability of state and area estimates for the total nonfarm employment series are available for metropolitan areas and metropolitan divisions.
Area definitions. The substate area data published in this news release reflect the delineations issued by the U.S. Office of Management and Budget on April 10, 2018. The 12 metropolitan areas discussed in this release are the metropolitan areas with the largest population according to the U.S. Census Bureau.
The Richmond, VA Metropolitan Statistical Area includes Amelia, Caroline, Charles City, Chesterfield, Cumberland, Dinwiddie, Goochland, Hanover, Henrico, King and Queen, King William, Louisa, New Kent, Powhatan, Prince George, and Sussex Counties and Colonial Heights, Hopewell, Petersburg, and Richmond cities in Virginia.
Employment data from the CES program are available on the BLS website at www.bls.gov/sae/.
Information in this release will be made available to individuals with sensory impairments upon request. Voice phone: (202) 691-5200; Telecommunications Relay Service: 7-1-1.
|Jun 2022 to|
Mining and logging
Trade, transportation, and utilities
Professional and business services
Education and health services
Leisure and hospitality
Richmond Metropolitan Statistical Area
Mining, logging, & construction
Trade, transportation, & utilities
Professional & business services
Educational & health services
Leisure & hospitality
Last Modified Date: Wednesday, July 26, 2023