More West Virginians Have Jobs as Unemployment Edges Down

From The Governor’s Desk: A weekly column by Gov. Joe Manchin

Earlier this week, I received the Workforce West Virginia report for West Virginia’s June unemployment rate, which was 4.5 percent. I was extremely pleased that we had the lowest June rate on record and that total unemployment is down 5,500 for the first six months of 2007.

West Virginia’s seasonally adjusted unemployment rate dropped to 4.3 percent, which is lower than the national average of 4.5 percent. What’s even more encouraging is that the record-low unemployment for the month of June is not unique. For each month so far this year, the state’s unemployment rate has been the lowest on record, which puts us on track to have the lowest-ever overall unemployment rate for an entire year. We’re working hard to reach that goal.

Since 2005, total employment in West Virginia has risen by more than 19,000 jobs with approximately $3.73 billion worth of business investments being made in our economy. That’s a lot of companies putting their faith and dollars in our state and our citizens. With all those statistics, it’s easy to get lost in the figures, but the bottom line is that we are creating jobs, and businesses are taking notice of the sweeping changes we’ve been able to accomplish with this Legislature.

Among those changes that are making a difference and helping to create jobs are lower taxes for consumers and businesses. At the beginning of this fiscal year, we lowered the sales tax another 1 percent to 4 percent, which is one-third less than it was just two years ago. We’ve also reduced the corporate net income and business franchise taxes and gathered a broad statewide coalition of experts to look at comprehensive tax modernization.

What we’ve accomplished the last couple years toward improving our economy and creating jobs is remarkable. We’ve privatized a struggling government-run workers’ compensation system, enacted insurance reform that’s made it much easier for businesses and consumers to obtain liability insurance, paid down billions in unfunded debt and dramatically improved our state’s bond rating. But we also recognize we have many challenges ahead.

The No. 1 priority of our administration is to create good-paying jobs with benefits for our hard-working West Virginians. We have a great way of life here in the Mountain State, including our beautiful scenery, safe and friendly hometowns, low cost of living and variety of recreational activities.

We’re listening to employers and working to share the message that West Virginia is a great place not just to raise a family, but to grow a business. We’ve been fortunate this year to put a greater percentage of West Virginians to work than ever before, and we’re not slowing down in our efforts to ensure our citizens continue to have those opportunities.