Wednesday, February 05, 2020
Total nonfarm employment for the Richmond Metropolitan Statistical Area stood at 696,500 in December 2019, up 13,500, or 2.0 percent, over the year, the U.S. Bureau of Labor Statistics reported today. During the same period, the national job count increased 1.4 percent. Sheila Watkins, the Bureau’s regional commissioner, noted that the December increase marked almost 10 consecutive years of over-the-year employment gains 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, education and health services had the largest employment gain from December 2018 to December 2019, adding 5,400 jobs. The recent advance represented a 5.4-percent rate of job growth over the year in the local area, double the nationwide advance of 2.7 percent for this industry.
From December 2018 to December 2019, two other local supsersectors each added more than 1,000 jobs: leisure and hospitality (+4,400) and professional and business services (+1,900). Locally, the rate of job growth in leisure and hospitality (7.1 percent) was nearly triple that of the nation (2.5 percent), while professional and business services growth (1.6 percent) was lower than the national job growth rate (1.9 percent). (See chart 2.)
No supersector in the Richmond area had an employment decrease that exceeded 1,000 jobs. Two local area supersectors—manufacturing and information—had no change in jobs from December 2018 to December 2019.
Metropolitan area employment data for January 2020 are scheduled to be released on Monday, March 16, 2020, at 10:00 a.m. (EDT).
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 2017 version of the North American Industry Classification System.
Method of estimation. CES State and Area employment data are produced using several estimation procedures. Where possible these data are produced using a "weighted link relative" estimation technique in which a ratio of current-month weighted employment to that of the previous-month weighted employment is computed from a sample of establishments reporting for both months. The estimates of employment for the current month are then obtained by multiplying these ratios by the previous month's employment estimates. The weighted link relative technique is utilized for data series where the sample size meets certain statistical criteria.
For some employment series, the sample of establishments is very small or highly variable. In these cases, a model-based approach is used in estimation. These models use the direct sample estimates (described above), combined with forecasts of historical (benchmarked) data to decrease volatility in estimation. Two different models (Fay-Herriot Model and Small Domain Model) are used depending on the industry level being estimated. For more detailed information about each model, refer to the BLS Handbook of Methods.
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 surveys, administrative data, and modeling 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 the total nonfarm employment series are available for metropolitan areas and metropolitan divisions at www.bls.gov/sae/additional-resources/reliability-of-state-and-area-estimates.htm. Measures of sampling error for more detailed series at the area and division level are available upon request. Measures of sampling error for states down to the supersector level are available on the BLS website at www.bls.gov/sae/additional-resources/reliability-of-state-and-area-estimates.htm. Information on recent benchmark revisions is available online at www.bls.gov/sae/publications/benchmark-article/annual-benchmark-article.pdf.
Area definitions. The substate area data published in this release reflect the delineations issued by the U.S. Office of Management and Budget, dated April 10, 2018. A detailed list of the geographic definitions is available at www.bls.gov/lau/lausmsa.htm.
The Richmond, VA Metropolitan Statistical Area 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.
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. Detailed industry employment data for metropolitan areas from the CES program are available from the State and Area Employment databases at www.bls.gov/sae/data/home.htm.
Information in this release will be made available to sensory impaired individuals upon request. Voice phone: (202) 691-5200; Federal Relay Service: (800) 877-8339.
|Dec 2018 to|
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
Last Modified Date: Wednesday, February 05, 2020