2022 State of the Commonwealth Report
If the story of 2020 was the pandemic and the tale of 2021 was the recovery, then rising inflation and interest rates dominated the narrative of 2022. The economic recovery remained incomplete, with jobs returning to pre-pandemic levels but some Virginians remaining outside the labor force. Now, with the possibility of a recession in 2023 looming, we ask how Virginia fared over the last 12 months and what are the prospects for future growth?
Dragas Center for Economic Analysis and Policy, Old Dominion University, "Part 1: Inflation, Uncertainty, and Volatility Undermine Virginia's Recovery" (2022). State of the Commonwealth Reports. 66.