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Statement of Governor Bob McDonnell on Virginia Unemployment Rate Falling to 54 Month Low

Statement

By:
Date:
Location: Richmond, VA

Governor Bob McDonnell issued the following statement this morning following the release of official monthly unemployment data from the Federal Bureau of Labor Statistics showing Virginia's unemployment rate has fallen to 5.2%. That's the lowest unemployment rate in Virginia in 4 ½ years.

"Today's good news is the direct result of Virginians working together across party lines to get our economy back on track and more Virginians back to work. Over the past 3 years we've focused on putting in place innovative public policies that spur private-sector job creation and help every Virginian, in every community, find the good-paying job they need and deserve. We've budgeted conservatively. We've aggressively pursued new job-creating businesses. We've marketed the Commonwealth. We've passed the first major transportation funding plan in 27 years to ensure that businesses will have the infrastructure they need to open, grow and create good jobs. Those actions are working. Agricultural exports have hit record highs. We keep announcing new, exciting business relocations and expansions. And the unemployment rate has fallen from 7.3% during our first month in office to 5.2% today, the lowest mark in Virginia since November 2008. We've got a lot of work left to do before our economy will be fully recovered, but we've made tremendous progress. That's what happens when Virginians work together across regional and party lines to improve life in our wonderful Commonwealth. This is a great day for Virginia."

Fast Facts about Virginia's Falling Unemployment Rate

-Virginia's 5.2% April 2013 unemployment rate is the lowest in the state since November 2008

-Virginia's unemployment rate is 2.3% below the national average of 7.5%
Since February 2010 (the first full month of the Administration) over 160,000 net new jobs have been created in the state

-Virginia's 5.2% April 2013 unemployment rate is the lowest in the Southeast

-Virginia's 5.2% April 2013 unemployment rate is the second-lowest east of the Mississippi

-Virginia's 5.2% April 2013 unemployment rate is far below the Commonwealth's neighboring states:

1. 1.3% lower than Maryland

2. 2.8% lower than Tennessee

3. 3.7% lower than North Carolina

4. 1.4% lower than West Virginia

5. 2.7% lower than Kentucky


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