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Va. layoffs and discharges down in June
Virginia companies put the brakes on layoffs in June, even as workers continued to seek new opportunities, refueling the Great Resignation. Virginia had 28,000 layoffs and discharges in June, a decrease of 13,000 from May, according to U.S. Bureau of Labor Statistics’ Job Openings and Labor Turnover Survey (JOLTS) data released last week. That marked […]
Va. hotel revenues up slightly over 2019
Northern Virginia’s hotel market continues to be a drag on the lodging industry’s performance in the commonwealth as a whole, according to recently released data from STR Inc., a division of CoStar Group Inc. that provides market data on the U.S. hospitality industry. The latest data show rooms sold decreased by 4.6% in Virginia through […]
Va. CEOs worry about inflation
Inflation is bad for Virginia businesses. That was the biggest takeaway from a survey of Virginia CEOs in July. The University of Richmond’s Robins School of Business and the Virginia Council of CEOs administered the survey from July 7 to July 14, with 63 executives responding. “It is no surprise that inflation is hurting small […]
Guardians of the treasury
How’s this for an anxiety recipe? Serious supply-chain woes. A worsening labor shortage. Historic inflation. Rising lending rates. Soaring fuel and energy costs. An exceptionally volatile stock market. Growing cybersecurity threats. Global instability. Oh, and the pandemic that started more than two years ago is still with us. Can you imagine a tougher time to […]
Prince George County hires economic development director
Prince George County has appointed Panayiotis “Yoti” Jabri its director of economic development, effective Aug. 1. Jeff Stoke, who became the county’s administrator on April 12, selected Jabri as his successor. “We are very pleased to be able to appoint Mr. Jabri to this very important county position,” Stoke said in a statement. “He has […]
Virginia ranks 3rd in CNBC’s Top States for Business
After two consecutive years at the top, Virginia slipped to third place in CNBC’s 2022 America’s Top States for Business rankings, the business news channel announced Wednesday morning. North Carolina achieved the coveted No. 1 ranking this year. “A great education system is building a smart workforce,” CNBC said about Virginia this year. “But migration […]
Higher gas prices are needed
The U.S. inflation rate, which reached 8.6% in May, is at its highest point in 40 years. In 1982, it was just over 6%. Since then, the U.S. inflation rate has hovered mostly in the 2% to 4% range. The inflation rate is determined by changes in the cost of a fixed basket of 80,000 […]
Barkin: Inflation high, but Fed has tools to contain it
Tom Barkin agrees — inflation is too high. But he also says the Fed has the authority to get it back on the right track. That’s what the president and CEO of the Federal Reserve Bank of Richmond told the Richmond chapter of the Risk Management Association on Tuesday at Triple Crossing Beer, a brewery […]
Economic growth to continue slowing, ODU experts say
The U.S. economy will continue to slow in the second half of 2022 and a recession is increasingly likely, according to the Old Dominion University’s Dragas Center for Economy Analysis and Policy’s mid-year economic forecast released Friday. Increases in inflation are expected to slow as well but harden, leaving costs elevated, report Robert McNab and […]
April Va. hotel revenues down slightly from pre-pandemic
Virginia hotel revenues in April were down 3.5% compared with pre-pandemic April 2019 revenues, largely due to the lagging Northern Virginia market, according to data released Wednesday by STR Inc., a division of CoStar Group Inc. that provides market data on the U.S. hospitality industry. Hotel rooms sold decreased by 4.7% last month, compared with […]
Rainmaker-in-chief
On Aug. 29, 2005, Jason El Koubi’s first day as research and policy director for Louisiana’s Baton Rouge regional chamber of commerce, Hurricane Katrina slammed into the state, resetting El Koubi’s and the state’s trajectory. It was a fast lesson in crisis management, but also one in economic transformation. That job was among his first […]
A diversified portfolio
In a city where tourism reigns, nothing could be more welcome than a post-pandemic world. And though we’re not quite there yet, Virginia Beach is licking its chops over the prospect of maskless visitors pouring into town. The city, with fingers crossed in hopes that new coronavirus variants don’t arrive before the tourists do, is […]
