Jen Kiggans: Virginia’s Economy Was Negatively Affected By DOGE Cuts Leading To Rising Unemployment Rates In The Virginia Beach-Norfolk-Newport News Area And Statewide
Virginia’s Economy, Which Was Affected By DOGE Cuts, Was A Contributing Reason Why Virginia Dropped In CNBC’s Annual Competitiveness Ranking For America’s Top States For Business
CNBC Headline: “Virginia Drops In America’s Top States For Business Rankings. Federal Job Cuts Are A Big Reason.” [CNBC, 7/10/25]
CNBC: Virginia’s Economy Was Cited As Why Virginia Dropped In CNBC’s Annual Competitiveness Ranking For America’s Top States For Business. “In the process, he has shaken up CNBC’s annual competitiveness ranking, America’s Top States for Business. Virginia, last year’s No. 1 state and a top three finisher in each of the last five years, slips to fourth place in 2025 — its worst showing since 2018 — and cedes the No. 1 spot to North Carolina. A major reason is a drop in the state’s Economy ranking, to No. 14 in 2025 from No. 11 last year. Economy is the heaviest weighted category in the study under this year’s methodology as more states pitch themselves as safe havens in a potential downturn.” [CNBC, 7/10/25]
In August 2025, Experts Forecasted The Outlook For Virginia’s Economy In “2026 Is Now Increasingly Unfavorable” And “Employment Is Expected To Decline”
The University Of Virginia’s Weldon Cooper Center For Public Service: The Outlook For Virginia’s Economy In “2026 Is Now Increasingly Unfavorable.” “Key findings for the remainder of FY2025 1. Despite the labor market strain, Virginia’s GDP will remain in positive territory, but growth will slow, and the outlook for 2026 is now increasingly unfavorable.” [The University Of Virginia’s Weldon Cooper Center For Public Service, Economic Forecast for Virginia Quarterly Report, August 2025]
The University Of Virginia’s Weldon Cooper Center For Public Service: “Virginia’s Labor Market Performed Better Than Expected, But A Contraction Is Expected Later This Year— Employment Is Expected To Decline.” “Key findings for the remainder of FY2025 […] 2.Virginia’s labor market performed better than expected, but a contraction is expected later this year— employment is expected to decline by 11,700 in 2025, a 0.3% decline in comparison with December 2024.” [The University Of Virginia’s Weldon Cooper Center For Public Service, Economic Forecast for Virginia Quarterly Report, August 2025]
2025: Unemployment In The Virginia Beach-Norfolk-Newport News Area Increased From 3.6% To 4% Between March and August, And It Was Expected To Continue Rising
March 2025: According To The U.S. Bureau Of Labor Statistics, Unemployment In The Virginia Beach-Norfolk-Newport News Area Was 3.6%. [U.S. Bureau Of Labor Statistics, accessed 10/21/25]
August 2025: According To The U.S. Bureau Of Labor Statistics, Unemployment In The Virginia Beach-Norfolk-Newport News Area Was 4%. [U.S. Bureau Of Labor Statistics, accessed 10/21/25]
2025: Unemployment In Virginia Increased From 3.2% To 3.6% Between March and August
March 2025: According To The U.S. Bureau Of Labor Statistics, Unemployment In Virginia Was 3.2%. [U.S. Bureau Of Labor Statistics, accessed 10/21/25]
August 2025: According To The U.S. Bureau Of Labor Statistics, Unemployment In Virginia Was 3.6%. [U.S. Bureau Of Labor Statistics, accessed 10/21/25]
In July 2025, It Was Reported That Virginia Was One Of Only Three States Whose Unemployment Rate Rose From The Prior Month
CNBC: Virginia Was One Of Only Three States Whose Unemployment Rate Rose From The Prior Month. “In May, Virginia was one of only three states whose unemployment rate rose from the prior month, according to the U.S. Bureau of Labor Statistics. The state is still adding jobs each month, albeit at a slower pace than last year, and Virginia’s 3.4% unemployment rate in May was still below the national average.” [CNBC, 7/10/25]
August 2025: Experts Forecasted That “The Unemployment Rate In Virginia Will Rise As Job Losses Accumulate”
The University Of Virginia’s Weldon Cooper Center For Public Service: “The Unemployment Rate In Virginia Will Rise As Job Losses Accumulate And Will Reach 4.2% In 2025 And 4.6% In 2026, The Highest Rate Since 2021.” “Key findings for the remainder of FY2025 […] 3. The unemployment rate in Virginia will rise as job losses accumulate and will reach 4.2% in 2025 and 4.6% in 2026, the highest rate since 2021.” [The University Of Virginia’s Weldon Cooper Center For Public Service, Economic Forecast for Virginia Quarterly Report, August 2025]