The Commonwealth Institute for Fiscal Analysis has unveiled the latest in a series of studies that identify issues in Virginia that hinder economic growth. The most recent study examines the labor force—and how well the state has rebounded since the economic recovery began in June, 2009. Michael Cassidy there says Virginia has a long way to go before it rebounds to pre-recession levels. Compared to past downturns, the number of job losses continued to grow.
“So unemployment, for example, rose by 14% in our state last year, and that was the largest jump in the whole South Atlantic region,” says Cassidy.
More than 1 in 3 unemployed workers looked for jobs for more than 27-weeks. The state remains 128,000 jobs below pre-recession levels .In addition, underemployment remains a problem …as some who obtain jobs work only part-time or below their skill levels. Cassidy says to help workers get back to pre-recession levels—the state could raise the minimum wage, provide training for new skills, and enact more earned income tax credits.
–Tommie McNeil
Virginia Public Radio 