THE VIRGINIAN-PILOT
Copyright (c) 1995, Landmark Communications, Inc.
DATE: Wednesday, March 15, 1995 TAG: 9503150479
SECTION: BUSINESS PAGE: D6 EDITION: FINAL
SOURCE: STAFF REPORT
LENGTH: Short : 43 lines
Hampton Roads' jobless rate increased in January, but remains lower than 1994 levels because of strong growth in retail, financial services and construction employment, the Virginia Economic Commission said Tuesday.
Local unemployment rose in January to 5.7 percent, or 41,030, compared with 5.0 percent, or 35,560, in December 1994. But January 1995's figure is lower than the same period last year, 6.3 percent.
Employment usually falls from December to January as retailers and other companies that geared up for the holiday season cut their work force, said William F. Mezger, chief economist at the commission.
But construction projects carried over from December, growth in retail and business services, and the slowdown in defense downsizing all contributed to the drop in jobless from January 1994 levels.
``Because of the weather being so mild, it wasn't as great a drop-off and, because the state's economy was so strong to begin with, there was a high level of activity that carried over in the new year,'' Mezger said.
Virginia's unemployment rate hit its lowest January rate in five years at 5.1 percent because mild weather allowed outside work to continue.
The state's jobless rate is well below the national rate of 6.2 percent.
Hampton Roads' job market should remain steady or improve in the second quarter of the year, according to an employment outlook survey by Manpower Inc., the world's largest temporary help firm. Most local executives, 67 percent, said they would maintain current levels of employment, and 23 percent said they will increase payrolls during April, May and June. ILLUSTRATION: UNEMPLOYMENT IN VIRGINIA
STAFF MAP
SOURCE: The Virgina Employment Commission
[For a copy of the graphic, see microfilm for this date.]
KEYWORDS: UNEMPLOYMENT JOBLESS RATE by CNB