Sign In
Free Newsletter
Va. new unemployment filings up last week, VEC reports
The number of initial unemployment claims filed during the week ending March 27 were 75% lower than they were this week a year ago, when the COVID-19 pandemic‘s impact was fully reflected in Virginia‘s unemployment statistics. However, the number of new filers increased from the previous week. The Virginia Employment Commission reported Thursday that 28,244 […]
Better times ahead
Back in the early 1980s, a co-worker of mine and his wife became first-time homeowners. They felt pretty good about getting their new house and signing a mortgage note at a whopping 18% interest rate! By today’s standards, that’s pretty unthinkable. While much time has passed since those days, we’ve had only six new presidents […]
A bend in the river
An out-of-town trip to visit colleges with her daughter gave Christie Wall an idea that several years later she hopes will benefit her and her hometown. For fun, Wall and her daughter tried out an escape room — an interactive adventure game that requires participants to solve a themed puzzle or challenge in order to […]
Va. new unemployment claims 60% lower than 1 year ago
The number of initial unemployment claims filed during the week ending March 20 were 60% lower than they were this week a year ago when the COVID-19 pandemic‘s impact first began to be reflected in Virginia‘s unemployment statistics. The Virginia Employment Commission reported Thursday that 17,560 people filed initial claims last week, an increase of […]
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 […]
New jobless claims increased last week in Va.
Initial unemployment claims increased across the state last week, while continued claims dropped slightly, the Virginia Employment Commission reported Thursday. For the filing week ending March 6, 13,736 people filed new claims for unemployment insurance, up from 12,155 the previous week. Meanwhile, 62,269 people filed continued claims, marking a 2.7% decrease from the previous week […]
Labor market recovery slowed during early February
Labor market recovery slowed during the week of Feb. 7 through Feb. 13, according to Virginia Commonwealth University and Arizona State University economists. Between early January and early February, employment held constant at 68.6%, which is 5.2% lower than it was in February 2020, according to the Real-Time Population Survey conducted by Virginia Commonwealth University […]
Newport News Shipbuilding lays off 314 employees
Newport News Shipbuilding has laid off 314 salaried employees and demoted 119 managers in its first workforce reduction since the shipyard laid off 1,218 employees in 2015, according to a letter sent to employees by the company’s president, Jennifer Boykin. “Today is a tough day as we say goodbye to 314 fellow shipbuilders as part […]
V-shaped? K-shaped? Va. experts predict economic recovery
What will the economic recovery from the pandemic look like and when will it take place? Ask Virginia‘s economic experts and they’ll tell you it depends on a number of factors, including the continued rollout of vaccines, the next round of stimulus and which sector of the economy we’re talking about. Often, economists brand the […]
Va. saw nearly 20% drop in initial jobless claims last week
Initial jobless claims filed last week fell 19.8% from the previous week, according to figures released Thursday by the Virginia Employment Commission but continued claims slightly increased. During the week ending Feb. 20, 11,944 Virginians filed initial unemployment claims, compared to 14,901 from the week prior. Last week, 64,575 Virginians remained unemployed; that represents 42,082 [&hellip[...]
Hotel revenues down 27% for January
Virginia hotel revenues for January 2021 were down 27% compared with January 2020, continuing the industry’s slow climb back to recovering from the economic impact of the coronavirus pandemic, according to data released Thursday from STR Inc., a CoStar Group division that provides market data on the U.S. hospitality industry. For the same period, rooms […]
