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Business Insider

Lindley Estes is a business writer for The Free Lance-Star and This blog is on Fredericksburg-area business. Send an e-mail to Lindley Estes.

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Local jobless rate at 5.3 percent

The Fredericksburg area had a 5.3 percent jobless rate in February, down from 5.6 percent year ago, according to Virginia Employment Commission data released Thursday.

The 5.3 percent figure matched the statewide rate in February. The Fredericksburg area usually outperforms the state rate by a small number. The U.S. rate was 7 percent.

The Fredericksburg area comprises the city and Caroline, King George, Spotsylvania and Stafford counties.

Stafford had the region’s lowest jobless rate in February at 5 percent followed by Spotsylvania (5.1 percent), Fredericksburg (5.2 percent), King George (6.2 percent) and Caroline (6.6 percent).

The city of Fredericksburg’s jobless rate has now come in significantly lower than it’s been historically for the past two reporting months. VEC Senior Economist Ann Lang attributes that to a change in the way the rate is calculated; she thinks the new benchmarking process is more accurate than what was previously used.