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Va. hotel revenues down 6.5% from Jan. 2019
Virginia hotel revenues in January were 6.5% below January 2019 levels, according to data released Monday by STR Inc., a CoStar Group division that provides market data on the U.S. hospitality industry. During the same period, hotel rooms sold decreased by 4% compared with 2019 levels. The average daily rate (ADR) paid for hotel rooms […]
Va. CEOs expect sales to increase despite omicron effects
About 84% of CEOs reported an impact on their businesses from the omicron variant of COVID-19, but almost 60% expect sales to increase over the next six months, according to the fourth quarter CEO Economic Outlook survey conducted by the University of Richmond’s Robins School of Business and the Virginia Council of CEOs (VACEOs). Of […]
Va. job openings, number of hires rebound from October 2021
Virginia had 301,000 job openings in November, a small rebound from October 2021, according to U.S. Bureau of Labor Statistics’ latest Job Openings and Labor Turnover Survey (JOLTS) data released Jan. 21. In October 2021, job openings in Virginia declined by about 28,000, which was the largest drop among states. The Virginia job openings rate […]
New Va. unemployment claims down 32%
Virginia’s new unemployment claims declined by almost 32%, the Virginia Employment Commission reported Thursday. For the filing week ending Jan. 22, Virginians filed 1,940 initial claims, down 909 from the previous week. Continued claims totaled 7,543, an increase of 484 claims from the week before. Compared to the same week last year, initial claims were […]
Va. economic growth will slow in 2022, ODU economists predict
Virginia’s economy is likely to grow at a slightly slower pace in 2022 than it did last year, with the COVID-19 pandemic continuing to make future predictions murky, according to the 2022 Annual Economic Forecast released Wednesday by Old Dominion University’s Dragas Center for Economic Analysis and Policy. “If we can control COVID-19, the economy […]
Hotel industry recovering, but unevenly
The hotel industry will continue its recovery from 2020 this year, but unevenly, according to the American Hotel & Lodging Association’s 2022 State of the Hotel Industry Report. “Hotels have faced enormous challenges over the past two years, and we are still a long way from full recovery. The uncertainty about the omicron variant suggests […]
Parsons lands $100M COVID testing contract
Centreville-based defense contractor Parsons Corp. has been awarded a task order to provide COVID-19 tests to Department of Homeland Security and Immigration and Customs Enforcement facilities across the United States, the company announced Jan. 19. Parsons will supply emergency-use authorized, portable, rapid molecular and rapid antigen test kits to DHS, as well as provide logistics, […]
Virginia ABC stores to change to noon opening
The Virginia Alcoholic Beverage Control Authority will change its daily opening hours to noon at its 395 stores starting Monday. Staffing stores has become difficult as “increasing numbers of ABC’s retail employees continue to be affected by COVID-19,” the authority said in a news release. Store closing times will remain the same. “Like other retailers […]
Va. new unemployment claims up 16%
New unemployment claims in Virginia increased 16% last week, the Virginia Employment Commission reported Thursday. For the filing week ending Jan. 15, Virginians filed 2,849 initial claims, an increase of 406 from the week before. Continued claims totaled 7,059, down 1,131 from the previous week. Compared to the same week last year, initials claims were […]
Roaring ’20s repeat possible, Richmond Fed president says
Federal Reserve Bank of Richmond President and CEO Thomas Barkin said he could visualize another round of the “roaring ’20s,” he said Thursday during the Virginia Bankers Association/Virginia Chamber 2022 Financial Forecast event. Driven by investment and real estate appreciation, the nation has seen a 28% boost in household net worth over the past two […]
Va. new unemployment claims up 35%
Virginia’s new unemployment claims increased by 34.9% last week, the Virginia Employment Commission reported Thursday. For the filing week ending Jan. 8, Virginians filed 2,446 initial claims, an increase of 633 from the week before. Continued claims totaled 7,895, down 3,367 from the previous week. Compared to last year, increased claims were almost 92% lower […]
Northam calls state of emergency to increase hospital staffing
With an all-time high number of Virginians hospitalized for COVID-19 on Friday, Gov. Ralph Northam issued a 30-day executive order Monday to expand the number of available hospital beds, increase staffing capacity at hospitals and nursing homes, and allow public health agencies greater flexibility. “It is painful to see the number of COVID cases rising,” […]
