Job growth in the Charlottesville and Central Virginia area has topped that of the rest of the state with significant growth coming from the public sector -- specifically, from the University.
According to a report from the Charlottesville Regional Chamber of Commerce, the number of jobs in Charlottesville has jumped 21.5 percent over the last 11 years. However, while the job market remains steady in the area, the private sector market has declined over the past few years.
Bill Megzer, chief economist at the Virginia Employment Commission, attributes the private sector slowdown to the decline of manufacturing markets that once dominated the U.S.
"A lot of the somewhat traditional manufacturing industries, like textiles, are relatively low wage, and many of those types of manufacturing have left the U.S. for other places where wages are lower," Megzer said.
Despite this decline, however, Charlottesville remains among the twelve cities with the lowest unemployment rate, according to Megzer. This can be attributed to the rise in professional industry jobs and Charlottesville's proximity to Washington, D.C., which is one of the four leading technology areas in the country, Megzer said.
"The [jobs] that require a higher skill level or higher education level away from the labor intensive industries, like manufacturing, put Charlottesville a little farther along on that progression than many other areas in the country," he said.
The University's in Charlottesville location also has a significant impact on other Central Virginia industries. University economics Prof. Leora Freidberg said she believes that the needs of students, faculty and locals contribute to the Charlottesville job market.
"The University brings in a lot of well-paid faculty and a lot of students who demand local services and buy local products," Freidberg said. "And it also attracts other people who want to live in a small city with a university. So, it really is the driver of growth here, even if it is not creating all of the jobs directly."
Megzer said he believes that the Charlottesville job industry will continue to grow because of the University's continued growth and influence on the market.
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