The State of the Region: Hampton Roads 2021
The COVID-19 pandemic shook the Hampton Roads economy. One in 10 workers were unemployed at the height of the pandemic, 4 in 10 small businesses were forced to reduce hours and thousands of residents left the labor force entirely. Yet, in the midst of the pandemic, housing prices and trade volumes through the Port of Virginia continued to rise. We explore the economic recovery and discuss whether Hampton Roads can rely on defense spending in the coming decade.
Dragas Center for Economic Analysis and Policy, "Part 1: Shock and Awe? COVID-19, Vaccines, and the Recovery" (2021). State of the Region Reports: Hampton Roads. 184.