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business23h ago
Northern Virginia’s slowdown weighs on state economy, amid federal workforce shifts - WTOP News
- Virginia’s economy is forecast to grow only 0.3% in 2026, marking a slowdown from 2025.
- Northern Virginia’s federal workforce presence is a key factor in the regional and state economic outlook.
- The University of Virginia center projects a statewide job loss of about 10,300 and an unemployment rise before 2027.
- Housing market slowdowns in Northern Virginia may continue amid federal workforce shifts.
- Experts say policy changes at state or federal levels could alter the forecast.
- Northern Virginia is expected to play a major role in Virginia’s recovery later in the year.
- The Weldon Cooper Center released its quarterly forecast detailing 2026 and 2027 projections.
- The forecast anticipates a rebound of about 1.6% in 2027 after 2026 slowdown.
- Officials highlight the sensitivity of Virginia’s economy to federal staffing decisions.
- The forecast emphasizes Northern Virginia’s housing market and job growth as critical to the state outlook.
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