Economic Indicators Report: April Unemployment Lowest since September 2008

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The latest Economic Indicators report is out and you can see what’s up and what’s down in our local economy. A highlight in this month’s report is that the April unemployment rate was at 2.6 percent, a decrease of 0.7 from March and the lowest since September 2008.

These monthly reports serve as one of the tools used by our budget staff and the Board of Supervisors to make decisions on the county’s budget. The Fiscal Year 2017 Budget  became effective on July 1.

Read the Latest Report

 

What’s Up

Jobs: The April unemployment rate in Fairfax County was 2.6 percent. The number of unemployed residents decreased over the month from 20,305 to 16,333.

Tax Revenue: For the first 11 months of FY 2016 (July 2015 to May 2016), sales tax receipts in our county were up 2 percent.

Homes Sold: In May, 1,683 homes were sold in Fairfax County, an increase of 10.2 percent over the 1,527 homes sold in May 2015.

What’s Down

Home Sales Prices: The average sales price of all homes sold in the county in May was $548,909, a decrease of 2.6 percent compared with the May 2015 average sales price of $563,267.

Home Listings: The number of active listings of homes for sale in the county decreased 8.9 percent in May from a year ago.

 

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