Monday, December 5, 2022

Economic Stats

Virginia’s October Economic Stats Offer Optimism

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...

HII Reports Third Quarter 2022 Results

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...

Hampton Roads Economy Full Of Ups and Downs

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,...

Regional Economic Forecast is Mostly Cloudy With A Chance of Recession

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....

Economic Experts Predict Hampton Roads Will Continue To Be Affected By Inflation And Labor Shortages

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...

Inflation And Shortage Of Workers Will Continue To Impact The Economy In 2022

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 &...

Almost Half Of Hampton Roads Residents Say Economy Is Excellent Or Good

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...

Ferguson Reports First Quarter Results Of Fiscal Year

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...

Economic Forecast Shows Improvements Following The Pandemic

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...

Virginia Peninsula Chamber Hosts Economic Forecast Breakfast

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...

Northam Wants To Speed Processing Of Unemployment Claims

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...

Latest news

York County Seeking Citizen Input On Water Street Area Master Plan

YORK-York County is seeking input from community members about the future of the Water Street area. Citizens will have the opportunity to offer their feedback regarding the Water Street Area Master Plan during the Christmas Market on Main event...

Hampton Mayor Delivers State Of The City Address

HAMPTON—On Thursday, December 1, more than 500 people gathered at the Hampton Roads Convention Center in Hampton to hear the State of the City Address. This marked the first time since 2019 the address was delivered in front of...

Warwick Moose Lodge To Hold Merry Market Craft And Vendor Fair December 4

NEWPORT NEWS—Warwick Moose Lodge, in conjunction with Giving Hope in Hampton Roads, will host a Merry Market Craft and Vendor Show on Sunday, December 4 from 9am to 4pm at 1711 Warwick Moose Ln. in Newport News. The event is...