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another $3.6 million added on in t^e past three months.
Some of the improvement can be attributed to a decline in the unemployment rate in Rappahannock.
The jobless rate peaked last February at 14 percent, according to the Virginia Employment Commission’s monthly bulletin.
By July, unemployment had dropped to 7.4 percent, about half of the February peak figure. The unemployment rate held steady at 7.4 percent in August.
Jobless figures for September will not be available until one day after the Nov. 3 presidential election.
Rappahannock’s unemployment rate was about even with the national average of 7.6 percent, but well above the 6.1 percent rate posted for Virginia as a whole.
According to a recent report by the College of William and Mary, an upturn in residential construction is tied to the rising number of resident jobs and a rebound in retail sales.
“All three forces (jobs, housing and retail sales) are significantly stronger in Virginia than nationwide,” said Roy Pearson, who published the William and Mary report.
92.9%