Stat du jour: Richmond's post-pandemic job recovery
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Illustration: Eniola Odetunde/Axios
Metro Richmond added just over 6,000 jobs between 2019 and 2023, according to an analysis from the New York Times.
Why it matters: Virginia fared better than most states and is recovering jobs at the same pace as the nation as of this year, according to the Federal Reserve of Richmond.
The big picture: America lost 9.4 million jobs in 2020, the largest calendar-year decline in payroll employment in recent history, according to the Bureau of Labor Statistics..
- As of last year, around 43% of U.S. counties hadn't fully recovered those lost jobs, NYT found using BLS' quarterly census employment stats.
Three of the four localities that make up metro Richmond had recovered from pandemic jobs losses, and in fact, had more jobs in 2023 compared to 2019, per the NYT's interactive database.
Yes, but: The industries Richmonders work in have changed since the pandemic.
Zoom in: Hanover had 4,620 more jobs in 2023 than 2019, a 9% increase. The county saw the biggest jump in trade, transportation and utilities, construction and finance sector jobs. It lost some in education, health, information and business services.
- Chesterfield saw 5,798 more jobs, up 4.2 %. Construction, manufacturing, and education jobs accounted for the county's greatest gains, while finance and business services showed its biggest losses.
- Richmond had 1,667 more jobs, an 1% increase. The city added the most jobs in the finance sector and business services, while dropping some in manufacturing and construction.
- Only Henrico had fewer jobs in 2023 vs. 2019 — 5,897 less, a 3.1% drop. It lost the most jobs in finance, information, and leisure and hospitality, but added them in construction and manufacturing.
Of note: The jobs totals cover public and private employers, but the industry breakdowns for jobs growth only includes the private sector.
- The public sector is the Richmond region's largest employer and Virginia overall has an "outsized share" of government employees, per the Federal Reserve.