Economic Update Labor Force Participation and In-Migration
JOHN DESKINS
One of the most significant economic development challenges West Virginia faces is a low rate of labor force participation. West Virginia’ s labor force participation rate is the second lowest in the country, and the state has been at or near the bottom for decades. This labor force participation deficit adversely affects many facets of the state’ s economy and virtually all industries. unemployment rate, this figure only provides a partial figure of labor market health. As such, one should examine the labor force participation rate, in conjunction with the jobless rate, for a more accurate depiction of West Virginia’ s labor market. The labor force participation rate captures the share of the adult population that wants to work, regardless of whether an individual holds a job currently or is looking for employment. The labor force participation rate is
Labor Force Participation by State( 2023)
Unemployment
A common misunderstanding is that unemployment is a widespread issue in West Virginia. However, this is not the case. The state’ s unemployment rate has been at or near historic lows for the past few years. It is key to remember that to be considered unemployed, one must be without a job and actively looking for work. For example, a person serving as a stay-at-home parent, someone in school full time or a retiree is not considered unemployed.
Labor Force Participation
While the state’ s labor market is tight in the short-run context of the
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