Job, wage, business levels hit multi-year highs in Fredericksburg
Three important indicators showing the City of Fredericksburg’s economic health hit multi-year highs in the fourth quarter of 2017, according to recently released data from the Virginia Employment Commission (VEC).
The number of business establishments, average employment and average weekly wages in Fredericksburg were all up significantly year-over-year, according to the VEC’s Quarterly Census of Employment and Wages (QCEW) report.
There were 1,679 business establishments in the City during the three months ending December 31, which was up 31 year-over-year and the most since the fourth quarter of 2009. The average number of jobs in the City was 25,152 during the quarter, up more than 1,000 year-over-year and a five-year high. And the average weekly wage of $896 was the highest in at least 10 years.
“We are pleased with the data,” said Fredericksburg City Manager Tim Baroody. “It speaks to our progress in achieving City Council’s top priority of Fredericksburg becoming a regional employment epicenter where people can live, work and play.”
Baroody noted that more job growth could be coming soon with significant projects in the pipeline or being pursued such as Liberty Place, the Department of Veterans Affairs outpatient clinic, the redevelopment of The Free Lance-Star property and more.
Below are the fourth-quarter data from the QCEW for the past five years:
|Fredericksburg jobs, wage, business data|
|Based on Quarterly Census of Employment and Wages (QCEW) from VEC|
|Based on Total, All Industries|
|Time period||Establishments||Avg. Employment||Avg. Weekly Wage|