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State unemployment rate slid to 4.5% in May
Virginia’s seasonally adjusted unemployment rate was at 4.5% in May, dropping 0.2 percentage points below April’s jobless rate. May’s statewide unemployment rate was 4 percentage points below May 2020’s rate of 8.5% in the first months of the pandemic shutdowns. Virginia continued to trend lower than the nation; the U.S. unemployment rate for May was […]
Va. hotel revenues increased by 178% in May
Virginia hotel revenues for May 2021 increased by 178% compared with May 2020, according to data released Tuesday by STR Inc., a CoStar Group division that provides market data on the U.S. hospitality industry. During the same period, rooms sold went up by 96%. The average daily rate (ADR) paid for hotel rooms rose 42% […]
State program would incentivize new workers with up to $1,000
To combat Virginia’s tight labor market, the state plans to invest $3 million in a program to provide new employees of qualifying small businesses with up to $1,000 to support their transition back into the workforce, Gov. Ralph Northam announced Friday. The Virginia Return to Earn grant program will match up to $500 from eligible […]
New, continued jobless claims maintain decline in Va.
Virginia’s unemployment claims, both initial and continued, fell again last week, continuing the positive trend of the last few weeks, the Virginia Employment Commission reported Thursday. For the filing week ending June 5, 7,210 people filed new unemployment claims, a decrease of 880 claims since the previous week. Continued claims totaled 50,261 last week, a […]
Va. April unemployment rate at 4.7%, drops nearly half point
Virginia’s seasonally adjusted unemployment rate was at 4.7% in April, dropping 0.4 percentage points below March’s jobless rate. April’s statewide unemployment rate was 5.9 percentage points below April 2020’s rate of 10.6%, the first full month of pandemic-related job losses. Virginia contends to trend lower than the nation, however. The U.S. unemployment rate for April [[...]
Fed says Fifth District economy shows moderate growth
The economy has grown “moderately” in recent weeks, with strong production increases, employment rising and consumer spending up in the Federal Reserve’s Fifth District, which includes Virginia, North Carolina, South Carolina, West Virginia and Maryland, according to the latest edition of the Fed’s Beige Book, released Wednesday. The Beige Book, which is published eight times [&hel[...]
Va. unemployment fell to 5.3% in January
Virginia’s unemployment rate dropped from 5.6% in December 2020 to 5.3% in January, Gov. Ralph Northam announced Monday. The state saw a gain of 14,100 nonfarm payroll jobs during January. The seasonally adjusted unemployment rate was 6.3% in January, falling to 6.2% in February. Nevertheless, Virginia’s January unemployment rate was still significantly higher than in […]
757 economic recovery plan focuses on cooperation
At a Thursday news conference, Hampton Roads regional leaders unveiled a new economic recovery plan for the next two years that focuses on cooperation and resiliency. Hampton Roads Alliance President and CEO Doug Smith presented a report detailing multiple goals for the region to help it recover financially after the COVID-19 pandemic and resulting job […]
