Wednesday, August 05, 2015
Total nonfarm employment for the Richmond Metropolitan Statistical Area stood at 639,200 in June 2015, up 3,400, or 0.5 percent, over the year, the U.S. Bureau of Labor Statistics reported today. During the same period, the national job count increased 2.1 percent. Sheila Watkins, the Bureau’s regional commissioner, noted that the June increase was the 60th consecutive month of over-the-year increases in the Richmond metropolitan area. (See chart 1 and table 1. The Technical Note at the end of this release contains the metropolitan area definition. All data in this release are not seasonally adjusted; accordingly, over-the-year analysis is used throughout.)
In the greater Richmond metropolitan area, government recorded the largest employment gain from June 2014 to June 2015, adding 1,600 jobs. The recent advance represented a 1.5-percent employment increase over the year in the local area compared to the nationwide increase of 0.2 percent for this industry.
Financial activities was the only other industry in the Richmond area to record a job gain of more than 1,000, adding 1,100 jobs over the year. The local growth rate for the industry, at 2.3 percent, was faster than the 2.0-percent national rate. (See chart 2.)
In the Richmond area, one industry—professional and business services—lost more than 1,000 jobs since June 2014. The recent loss of 1,500 jobs was the local industry’s fifth consecutive month of over-the-year decreases. Nationwide, professional and business services employment advanced 3.5 percent since June 2014.
Metropolitan area employment data for July 2015 are scheduled to be released on Tuesday, September 1, 2015, at 10:00 a.m. (EDT).
This release presents nonfarm payroll employment estimates from the Current Employment Statistics (CES) program. The CES survey is a Federal-State cooperative endeavor between State employment security agencies and the Bureau of Labor Statistics.
Definitions. Employment data refer to persons on establishment payrolls who receive pay for any part of the pay period which includes the 12th of the month. Persons are counted at their place of work rather than at their place of residence; those appearing on more than one payroll are counted on each payroll. Industries are classified on the basis of their principal activity in accordance with the 2007 version of the North American Industry Classification System (NAICS).
Method of estimation. The employment data are estimated using a "link relative" technique in which a ratio (link relative) of current-month employment to that of the previous month is computed from a sample of establishments reporting for both months. The estimates of employment for the current month are obtained by multiplying the estimates for the previous month by these ratios. Small-domain models are used as the official estimators for approximately 39 percent of CES published series which have insufficient sample for direct sample-based estimates.
Annual revisions. Employment estimates are adjusted annually to a complete count of jobs, called benchmarks, derived principally from tax reports which are submitted by employers who are covered under state unemployment insurance (UI) laws. The benchmark information is used to adjust the monthly estimates between the new benchmark and the preceding one and also to establish the level of employment for the new benchmark month. Thus, the benchmarking process establishes the level of employment, and the sample is used to measure the month-to-month changes in the level for the subsequent months.
Reliability of the estimates. The estimates presented in this release are based on sample survey and administrative data and thus are subject to sampling and other types of errors. Sampling error is a measure of sampling variability—that is, variation that occurs by chance because a sample rather than the entire population is surveyed. Survey data are also subject to nonsampling errors, such as those which can be introduced into the data collection and processing operations. Estimates not directly derived from sample surveys are subject to additional errors resulting from the special estimation processes used. The sums of individual items may not always equal the totals shown in the same tables because of rounding.
Employment estimates. Measures of sampling error for state CES data at the supersector level are available on the BLS Web site at www.bls.gov/sae/790stderr.htm. Information on recent benchmark revisions for states is available at www.bls.gov/sae/.
More complete information on the technical procedures used to develop these estimates and additional data appear in Employment and Earnings, which is available online at www.bls.gov/opub/ee/home.htm. Industry employment data for states and metropolitan areas from the Current Employment Statistics program are also available in the above mentioned news releases and from the Internet at www.bls.gov/sae/.
Information in this release will be made available to sensory impaired individuals upon request. Voice phone: 202-691-5200; Federal Relay Service: 1-800-877-8339.
Area definitions. The substate area data published in this release reflect the standards and definitions established by the U.S. Office of Management and Budget, dated December 1, 2009. A detailed list of the geographic definitions is available at www.bls.gov/lau/lausmsa.htm.
The Richmond, Va. Metropolitan Statistical Area (MSA) includes Amelia, Caroline, Charles City, Chesterfield, Cumberland, Dinwiddie, Goochland, Hanover, Henrico, King and Queen, King William, Louisa, New Kent, Powhatan, Prince George, and Sussex Counties and Colonial Heights, Hopewell, Petersburg, and Richmond cities in Virginia.
|Jun 2014 to|
Jun 2015 (1)
Mining and logging
Trade, transportation, and utilities
Professional and business services
Education and health services
Leisure and hospitality
Richmond Metropolitan Statistical Area
Mining, logging, & construction
Trade, transportation, & utilities
Professional & business services
Educational & health services
Leisure & hospitality
SOURCE: Current Employment Statistics - National - State and Metropolitan Area
Last Modified Date: Wednesday, August 05, 2015