Richmond Region’s 2015 job growth outpaces state, nation by 50%

Richmond Region’s 2015 job growth outpaces state, nation by 50%

 Professional services cluster sees 10,400 new jobs

RICHMOND, VA – Job growth in the Richmond Metro Statistical Area (MSA) picked up significantly during 2015, outpacing the state’s growth by nearly 50 percent and growing at over twice the national rate. Employment in Richmond increased by 4.1 percent, compared to 2.7 percent in Virginia and 2.0 percent across the nation.

According to data provided by the Richmond Times-Dispatch, the US Bureau of Labor Statistics, and Chmura Economics & Analytics, Richmond’s 2015 increase resulted in 26,121 net new jobs, with the largest gains in Professional Services (+10,400 jobs), Transportation & Utilities (+5,000 jobs), and Education & Health Services (+3,700 jobs).

“The Richmond Region is seeing tremendous growth in the Professional and Creative Services cluster — and that doesn’t include the 1099 contract employees who also fill this employment category,” said Chuck Peterson, Vice President of Business Information at the Greater Richmond Partnership.

Companies that helped drive 2015’s growth include Elephant Insurance (announcing plans to add over 1,100 new jobs at its Henrico headquarters), Amazon (adding 500 new jobs to its fulfillment centers in Chesterfield and Dinwiddie), and Cuore (adding 200 jobs to its Chesterfield call center).

“The Partnership has either recruited or helped many of these companies and it has paid off,” said Barry Matherly, President/CEO of the Partnership. In addition to Elephant, Amazon and Cuore, companies such as Mavalerio, AvePoint and Detectamet have impacted employment numbers recently.

Job growth has been steady, with Richmond’s annual employment growth averaging 1.1 percent between 2010 and 2014.

Industries in Richmond that shed jobs during 2015 included Government (-4,600 jobs), Manufacturing (-2,000 jobs) and Information (-100 jobs), although the Partnership has seen recent prospect activity from each of these professional clusters.

-Posting from the Greater Richmond Partnership, http://www.grpva.com, April 2016.