Economic Stats

RICHMOND – Virginia’s labor force increased by 1,162 in October, keeping the number of Virginia’s employed at more than 4.3 million. The numbers from the Bureau of Labor and Statistic’s Local Area Unemployment Statistics (LAUS) show the commonwealth’s labor force...

NEWPORT NEWS—HII recently reported third quarter 2022 revenues of $2.6 billion, up 12.3 percent from the third quarter of 2021. The figure was primarily driven by revenue attributed to the acquisition of Alion Science and Technology in the third...

NEWPORT NEWS-Experts from the Dragas Center For Economic Analysis and Policy at Old Dominion University’s Strome College of Business presented their annual State of the Region report for Hampton Roads to Peninsula business leaders during a meeting on Friday,...

YORK-The economy is “quite strange right now,” said Greg Grootendorst, chief economist with the Hampton Roads Planning District Commission, who presented a sobering update to the York County Board of Supervisors during its work session on Tuesday, October 4....

NEWPORT NEWS-Midway through 2022, inflation and worker shortages have had a negative impact on not only the nation, but the commonwealth of Virginia and the Hampton Roads region as well. The two will continue to take a toll on...

WILLIAMSBURG-Rising prices and a lack of workers will continue to affect the economy on both the national and local level throughout 2022. That’s what Peter McHenry, an associate professor of economics and public policy at the College of William &...

Old Dominion University recently released its annual survey detailing residents’ perceptions of life in the region, and it’s filled with interesting numbers. Regarding the economy, the Social Science Research Center’s “Life in Hampton Roads” survey showed 23.7 percent of the...

NEWPORT NEWS—Despite supply chain issues and labor shortages throughout the United States and the world, Ferguson posted strong first quarter results. “Our associates have continued to drive strong market share gains while navigating industry supply chain pressures, delivering particularly...

NEWPORT NEWS—The Virginia Peninsula Chamber of Commerce hosted the 2021 Mid-Year Economic Forecast Breakfast on Thursday, June 17 at Newport News Marriott at City Center. Dr. Vinod Agarwal and Dr. Robert McNab, economists from Old Dominion University’s Strome College...

After a 15-month hiatus precipitated by the covid-19 pandemic, the Virginia Peninsula Chamber of Commerce will host its first live event in partnership with Old Dominion University’s Stome College of Business. Economists from ODU’s Dragas Center for Economic Analysis...

On May 19, Governor Ralph Northam directed the Virginia Employment Commission (VEC) to invest $20 million to dramatically expand the agency’s ability to process complicated unemployment insurance claims. Executive Directive Sixteen required the agency to add 300 new adjudication...