Tuesday, June 24 — Virginia’s Falls Church Area U.S. Congressman Don Beyer, who serves as the top House Democrat on the Congressional Joint Economic Committee, today expressed rising concern over Virginia’s economy, after monthly data from the Bureau of Labor Statistics (BLS) showed that the Commonwealth’s unemployment rate had risen for the fifth consecutive month. The increase brought Virginia’s unemployment rate to 3.4 percent, its highest level since August 2021. Today’s data marks the first time that Virginia’s unemployment rate has risen for five consecutive months since the sustained job losses of the Great Recession in 2008-09.

      Beyer said:

      “The sustained increase in Virginia’s unemployment rate is a growing concern, especially amid the uncertainty created by President Trump and Elon Musk’s indiscriminate and ill-conceived mass firings of federal workers and contractors.

       “Governor Youngkin inherited a strong economy that was rebounding from the pandemic downturn with strong growth and job gains, and a 2.7 percent unemployment rate that was the envy of much of the nation. To be clear, our Commonwealth is still a great place to do business, with job gains still coming and unemployment below the national average. But today’s data shows we are now clearly moving in the wrong direction: under current leadership, the unemployment rate has risen for five straight months for the first time since the Great Recession, and reached its highest level since Governor Youngkin took office.

       “These gathering economic storm clouds are unfortunate but not surprising for anyone who reads the news. Sustained damage to Virginia’s economy – including this Administration’s mass firings of workers, terminations of key contracts, freezes of medical research funding, and attacks on our educational and research institutions – is bound to have an impact. Unless courts intervene, some of the largest firings and cuts will take effect in months to come, which would worsen the damage for Virginians. Unfortunately, our Governor and his allies have not only failed to defend our Commonwealth from these hits to our economy, they have cheered them on. Putting politics and party loyalty over Virginians and our economic security is a failure of leadership.”

       Historical economic data, including unemployment rates for states including Virginia, is tracked by the Federal Reserve Bank of St. Louis (FRED).