New Report documents the ongoing impact of the recession on Virginia workers and the economy RICHMOND, VA — The Great Recession may have ended over a year ago, but for many Virginians the economic devastation has been so massive that it will take years to clear out the debris left by the crisis. The...
New Report Shows Unemployment Compensation Fulfills Critical Role During Recessions October 4, 2010 RICHMOND, VA – Unemployment compensation fulfills a key economic role in Virginia during difficult economic times by providing a counter-cyclical source of income, according to a new study by The Commonwealth Institute for Fiscal Analysis. “Income from unemployment compensation increases during...
Census numbers also show dramatic losses in private insurance coverage RICHMOND, VA – One of the largest single-year increase in national poverty on record occurred in 2009, with poverty rates jumping to 14.3 percent from 13.2 percent in 2008, new Census Bureau data show. The Census Bureau also released preliminary state-level data showing that...
New report shows the higher the income, the wider the gap September 2, 2010 RICHMOND, VA – Women in Virginia earn an average of just 81 cents for every dollar men earn, and this difference is larger than in most other states, according to a new report by The Commonwealth Institute for Fiscal Analysis. ...
Despite Gains in Median Income, More Virginians Live in Poverty, and the Number of Uninsured Grows August 26, 2008 RICHMOND, VA – New data released by the Census Bureau today reveals that poverty and the number of uninsured in the state are growing and the incomes of Virginia’s families are no better off now...
New Study Reveals Sobering Unemployment Forecast RICHMOND — Virginia needs to add 12,000 jobs per month, every month, for the next two years in just to return to pre-recession employment level. That sobering statistic is among the numbers released today in a new and dramatic unemployment forecast from The Commonwealth Institute for Fiscal...
The State of Working Virginia in the Great Recession November 23, 2009 RICHMOND, VA – It’s bad, and it’s going to get worse. Since the Great Recession started in December 2007, Virginia’s growth in unemployment rate has been two- to three-times that of the 1981 and 2001 recessions. Substantial job losses have wiped...
Even in times of economic expansion, the number of Virginians living in poverty has remained at roughly the same levels for the last 20 years. Thus, addressing this issue in the current recession may seem daunting. However, in times such as these...
As Virginia’s recession worsens, thousands more children will be pushed into poverty One year into the recession, there are signs of mounting harm to Virginia families and children. Although unemployment and poverty in Virginia should remain somewhat lower than nationally, this will be of little comfort to the thousands of Virginians likely to be...
Study Reveals Virginia’s Workers are “Feeling the Pinch” RICHMOND – Despite above-average economic growth in recent years, Virginia’s economy appears to be slowing and many of the Commonwealth’s workers are feeling the strain. According to a new study released today by The Commonwealth...
