Media Release

###

 

From: Caroline County Board of Supervisors

Date: June 6, 2008

Re: Caroline Lowers Unemployment Rate, Adds Jobs

Percy Ashcraft, Caroline County Administrator

 

 

Unemployment in Caroline went down from 4.6% in March to 4% in April, the last month reported by the Commonwealth.

 

Even though national economic news shows increased unemployment, and dollar devaluation against foreign currencies continuing (which contributes to higher oil prices), Caroline County remains in an employment growth trend.

 

Caroline has now posted two consecutive months of a Civilian Labor Force over 14,000. This is an all time high and suggests a steady addition of workers in the County, even if population growth has slowed.

 

Caroline also has posted job growth in the first quarter of 2008: 155 jobs since the end of 2007.

 

New business openings have added jobs through small business ventures and also with the opening of VSE’s newest expansion of 40,600 sq. ft. and 100 jobs in Ladysmith.

 

Caroline County remains a low cost, high profit location for business and industry with taxes that are the lowest in the Interstate 95 corridor from Richmond to Maine.

 

Below is the official employment data from the Commonwealth:

Year

Period

Civilian Labor Force

Employment

Unemployment

Unemployment Rate (%)

2008

April

14,049

13,491

558

4.0

2008

March

14,096

13,442

654

4.6

2008

February

13,959

13,316

643

4.6

2008

January

13,994

13,328

666

4.8

2007

December

13,916

13,336

580

4.2

Source: LAUS Unit and Bureau of Labor Statistics

Contact:

 

Gary R. Wilson

Director, Caroline County

Department of Economic Development

804.633.4074

gwilson@co.caroline.va.us