The Virginian-Pilot
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Hampton Roads' jobless rate jumped in August amid falling employment in several sectors of the economy, the Virginia Employment Commission reported Wednesday.
The region's jobless rate climbed to 7.3 percent last month from 6.9 percent in July, while unemployment in several Hampton Roads localities matched or surpassed their year-earlier levels.
The latest rate for Hampton Roads came close to the 7.4 percent rate for August 2010, according to the VEC. The rates were not adjusted for seasonal factors.
The number of payroll jobs in the region fell by 3,900 between July and August, with the greatest decline in professional and business services. That sector lost 2,300 jobs last month, while the number of leisure-and-hospitality jobs dropped by 1,000.
However, some employment numbers, especially those for private-sector jobs since August 2010, are likely to be revised upward in coming months because of unusual fluctuations, said Vinod Agarwal, an economics professor at Old Dominion University. The numbers for private-sector employment in July proved to be better than first reported and were revised, he noted.
"The trend is that the private sector has been creating jobs while the local government sector has been shedding jobs," said Agarwal, a member of the university's Economic Forecasting Project. That pattern is likely to continue, he said, because of cities' heavy reliance on tax revenue from residential real estate and the decline in property values.
The financial sector, which added 400 jobs, was one of the few areas in the regional economy to generate jobs in August. The retail sector added 300 jobs last month, but retail employment was still down by 3,800 from a year earlier.
Virginia's jobless rate rose in August to 6.5 percent from 6.2 percent. The rate hikes for Hampton Roads and Virginia came at a time when the national rate dipped to 9.1 percent last month from 9.3 percent in July.
Tom Shean, (757) 446-2379, tom.shean@pilotonline.com
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the headlines talk about new jobs in sufolk
More Minimal wage jobs at a warehouse, just like Lillian Vernon, OMG. Sounds like Rick Perry’s answer
Job Creators and Taxes
Tthe so-called "job creators" have been given $3 trillion in Bush tax cuts while the unemployment rate sky rocketed to levels unseen since the Great Depression. What gives?
It keeps on giving
Obama-care! It increases taxes and the cost of hiring workers. And wait until 2013 to see how it totally screws up health care. Yes, the same people that ruined our schools will now turn their attention to your medical care.
Actually no
That's insurance industry propaganda, the insurance reform will not add to taxes or the deficit and will create jobs in health care as more people will be covered. On the other hand, GOP attacks on the Postal Service does result in job losses around the country:
http://www.commondreams.org/view/2011/09/29-5
Trickle Down Never Did Work!
Even Reagan's economic advisor says so many years after the fact.
It's more like trickle up!
P.S. Obama did not do this mess in less than three years... The greatest recession started in April 07 under the "progressive" Bush.
You're right
Republicans created this mess and are doing everything they can to add to it. The richest have never been richer and the other 99% of us can argue over the crumbs. It's a stacked game that has nowhere to go but down. Though the Pilot and other business media are ignoring it, there are growing protests on Wall Street, in Chicago, and other cities. Many have had enough of it and recognize that our future has been bought out from under us. The only choice may be to take our country back from the big banks and big business so the rest of us can live.
Oooh!
Someone is trying to do real journalism! Here's a ling to the Wall Street Occupation: https://occupywallst.org/
exactly
Trickle up poverty....still cant come to grips that Obama implemented his plan,his 11 trillion in new debt, Czar- fest,picked his own people consisting of tax cheats,self proclaim marxist and socialist ....hows that hope and change working out for you? It seems you Obama worshipers would be thanking Obama for his two years of hard work instead of crying its Bush's fault. You voted for a man that never ran anything but his mouth..... enjoy that unemployment check!
yea,mr.obama and all you
yea,mr.obama and all you members of congress his plan is really working.here's a hint when the unemployment rate keeps going up your plan isn't working.
His plan
hasn't gotten through Congress yet and my guess is Republicans are already manning the barricades against it, just like they do with everything from health care reform to emergency aid to victims of natural disasters.