ROANOKE TIMES
Copyright (c) 1996, Roanoke Times
DATE: Tuesday, May 7, 1996 TAG: 9605070043
SECTION: BUSINESS PAGE: C-8 EDITION: METRO
SOURCE: JEFF STURGEON STAFF WRITER
Roanoke Valley's unemployment fell to a record low 2.4 percent in March as the regional economy created 1,400 jobs over the last year, state labor officials said Monday.
The new rate dropped 0.3 percent from a year ago, according to the Virginia Employment Commission.
Driving the trend is the area's stable job growth. In the 12 months since March 1995, employers in Roanoke, Salem and Roanoke and Botetourt counties created 1,400 service jobs - including 600 in retail trade - which amounted to a 1 percent increase.
The region's vibrancy is tied to its being a center for health care, shopping and other essentials for the western third of the state.
The average hourly wage in manufacturing - the only industry where pay is tracked - rose during the year to $12.94 from $12.78. The figure combines both the wages of production workers and management personnel.
The latest jobless rate was based on 3,170 people in the Roanoke Valley communities classified as actively seeking work and 130,156 people who are employed. The state does not estimate the number of nonworking people who are not looking for work.
March's rate has never been as low as 2.4 percent in 22 years of using current recordkeeping methods. February's rate of 2.8 percent tied the lowest rate of the 22-year period for that month, and October's rate of 3.5 percent also set a record.
Roanoke County was one of only six localities in the state with a rate below 2 percent.
Joblessness was running somewhat higher in the New River Valley, where the rate was 4.5 percent, up from 4.3 percent in March 1995.
The state posted a rate of 3.8 percent, the lowest statewide figure in any month for nearly six years.
LENGTH: Short : 44 lines ILLUSTRATION: GRAPHIC: Charts by staff. Unemployment rates. 1. Roanoke area.by CNB2. New River Valley area. 3. State Metro areas. color.