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Peer regions were chosen for their comparable size and composition. These same regions have been used for comparison in multiple other studies and reports.
Source: JobsEQ, Chmura Economic and Analytics, 3rd quarter 2017. U.S Bureau of Labor Statistics, Quarterly Census of Employment and Wages.
Year over year employment is measured using % change from 3rd quarter 2015 to 3rd quarter 2016.
The jurisdictions in the CRC-footprint include: the City of Richmond, the Town of Ashland, and the Counties of Charles City, Chesterfield, Goochland, Hanover, Henrico, New Kent, and Powhatan.
Source: JobsEQ, Chmura Economic and Analytics, 3rd quarter 2017. U.S Bureau of Labor Statistics, Quarterly Census of Employment and Wages.
Year over year employment is measured using % change from 2nd quarter 2015 to 2nd quarter 2016.
* Includes the Town of Ashland
Why It's Important
Employment growth is generally considered a more reliable indicator of a gauging the health of a local economy than the unemployment rate. Here we are looking at the overall employment rate of change in a 12-month cycle.
In the Richmond Region, year over year employment growth has decreased from 1.9% to 1.8% since 2015.