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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[...]
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, incr[...]
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 [...]
Va. new unemployment claims up 51%
Virginia’s new unemployment claims increased by almost 51% last week, the Virginia Employment Commission reported Thursday. For the filing week ending Jan. 1, Virginians filed 1,813 new claims, an increase of 609 from the previous week. Continued claims totaled 11,262, an increase of 6,358 claims from the week before. Compared[...]
Va. had fewer job openings in October
Virginia had 308,000 job openings in October, the largest drop in openings among U.S. states, as well as 108,000 quits, according to U.S. Bureau of Labor Statistics’ latest Job Openings and Labor Turnover Survey (JOLTS) data released Dec. 17. In September, Virginia had a record-setting 336,000 job openings, but in October, openings declined by 28,000, […]
Va. hotel revenues down 19% from Nov. 2019 levels
Virginia hotel revenues in November were 19% below November 2019 levels, according to data released Wednesday 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 12% compared with 2019 levels. The average daily rate (ADR) paid for [...]
Va. unemployment rate dropped to 3.4% in November
In November, Virginia’s unemployment rate fell to 3.4%, 0.2 points below October’s rate, marking 18 straight months of declines, Gov. Ralph Northam announced Friday. In November 2020, the jobless rate was 2.4 points higher than last month. The labor force increased by 2,706 to almost 4.26 million, and the number of unemployed residents decreased by 8,627 […]
Va. new unemployment claims drop 47%
Virginia’s new unemployment claims dropped by 47% last week, the Virginia Employment Commission reported Thursday, following a drop of 50% in the week ending Nov. 27. For the filing week ending Dec. 4, Virginians filed 3,450 initial claims, a decrease of 3,096 from the week before. Continued claims totaled 14,598, an increase[...]
New Va. unemployment claims fall by 50%
The state’s new unemployment claims for the filing week ending Nov. 27 fell by about 50% from the previous week, while continued claims rose by more than 7,000 filings. The Virginia Employment Commission installed a new unemployment insurance system in November, and it missed two weeks of reports during that period. Accord[...]
Va. had record 328,000 job openings in September
Virginia had 328,000 job openings in September and 123,000 quits, 4,000 fewer quits than the April 2021 peak, according to U.S. Bureau of Labor Statistics’ latest Job Openings and Labor Turnover Survey (JOLTS) data released Nov. 19. The September job openings number set a record previously set in July, when there were 320,000 openings. The […]
Va. hotel revenues continue to lag from 2019 levels
Virginia hotel revenues for October were 20% below pre-pandemic levels in October 2019, according to newly released data from 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 13% compared with 2019 levels. The average daily rate (A[...]
Va. unemployment rate dropped to 3.6% in October
In October, Virginia’s unemployment rate fell to 3.6%, 0.2 points below September’s rate, Gov. Ralph Northam announced Friday. The state’s unemployment rate has declined for 17 months straight. In October 2020, the jobless rate was at 5.3%, 2.5 points higher than last month. The labor force increased by 5,918 to almost 4.26 million, and the number […]
