Univ Virginia: Job Losses for the State Through 2Q26

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The most recent quarterly report from the University of Virginia’s Weldon Cooper Center for Public Service forecasts minimal state economic growth and declining employment through at least the first half of 2026. The forecast calls for Virginia’s real GDP to increase 0.6% in 2025 and 1.0% in 2026, before increasing to 1.9% in 2027. Similarly, employment in the state is projected to decline through the second quarter of 2026 before recovering modestly in the third quarter. Still, the Center forecasts that the state’s unemployment rate will increase from an estimated 4.1% in 2025 to 4.8% in 2026 but then decrease to 3.9% in 2027.

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