West Virginia’s acting unemployment secretary described job market figures as relatively stable he spoke to lawmakers this week.
Scott Adkins also told members of the Legislative Oversight Committee on Workplace Development that for every unemployed person in West Virginia there are about one and a half jobs available.
“We have about about 1.5 jobs for every unemployed West Virginian. So there’s currently more jobs than job seekers,” Adkins told lawmakers during legislative interim meetings.
The number of unemployed state residents rose 400 to 33,100 in West Virginia, according to the most recent state figures.
State figures show 48,000 job openings in West Virginia.
West Virginia’s seasonally adjusted unemployment rate has been stable over the past couple of years, Adkins told lawmakers on Tuesday — usually about 4.1% to 4.3%. The unemployment rate is simply the percentage of people in the labor force who are unemployed. To be considered unemployed, a person must be of working age, available for work and be taking steps to find a job.
The U.S. Bureau for Labor Statistics shows West Virginia’s unemployment rate for the most recent month, July, at 4.2 percent.
“It’s been pretty static the last two to three years,” Adkins said.
Through last Friday, Workforce West Virginia showed 10,772 West Virginians receiving unemployment benefits, Adkins said.
He said the state has 18,958 “first pays,” people determined to be eligible for unemployment and receiving their first week of benefits. “That’s up 15% over last year,” Adkins said.
The average duration across all employment sectors went from 12.9 weeks in the second quarter of 2023 to 13.4 weeks through this past June 30. “So we’re slightly up,” he said.
West Virginia’s workforce participation rate, long a drag on state economic activity, is 55.1 percent, Adkins said. In some counties, it’s worse. The national workforce participation rate is 62.7 percent. The workforce participation rate includes both people who are employed and those who are looking for work. To calculate the figure, the labor force is divided by the total adult population — so in West Virginia’s case the figure is always affected by the sheer number of retired or disabled people.
West Virginia’s unemployment trust fund balance is at more than $420 million, he said. “It’s pretty healthy right now.”