Civilian Labor Force for Virginia
CIVLFVA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,530,200.00
Year-over-Year Change
5.55%
Date Range
10/1/2003 - 7/1/2024
Summary
The Civilian Labor Force for Virginia measures the total number of people aged 16 and older who are either employed or actively seeking work in the state. It is a key indicator of the overall health and size of Virginia's workforce.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Civilian Labor Force for Virginia represents the total civilian non-institutional population in Virginia who are either employed or unemployed but actively seeking work. This metric is closely watched by economists and policymakers to gauge the strength of the state's labor market and broader economic conditions.
Methodology
The data is collected through the Current Population Survey conducted by the U.S. Census Bureau.
Historical Context
The civilian labor force is an important input for analyzing state-level employment, unemployment, and workforce participation trends.
Key Facts
- Virginia's civilian labor force totaled over 4.3 million in 2022.
- The labor force participation rate in Virginia was 62.3% as of 2022.
- Virginia's unemployment rate was 3.1% in 2022, below the national average.
FAQs
Q: What does the Civilian Labor Force for Virginia measure?
A: The Civilian Labor Force for Virginia measures the total number of people aged 16 and older who are either employed or actively seeking work in the state.
Q: Why is the Virginia civilian labor force metric relevant?
A: The civilian labor force is a key indicator of the overall health and size of Virginia's workforce, which is closely watched by economists and policymakers.
Q: How is the data for this trend collected?
A: The data is collected through the Current Population Survey conducted by the U.S. Census Bureau.
Q: How is the Virginia civilian labor force trend used in economic policy?
A: The civilian labor force is an important input for analyzing state-level employment, unemployment, and workforce participation trends, which inform economic policymaking.
Q: Are there any limitations or delays in the data?
A: The civilian labor force data for Virginia is published monthly with minimal delays, providing timely insights into the state's workforce.
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Citation
U.S. Federal Reserve, Civilian Labor Force for Virginia (CIVLFVA), retrieved from FRED.