The Special Subcommittee on Federal Impacts to Resources convened on April 2, 2025, at 9:30 AM in SR A (305) to discuss employment trends and economic growth in Virginia and surrounding states. The meeting highlighted significant employment growth in North Carolina and South Carolina since 2010, contrasting with Virginia's performance, which has shown robust growth in 2024 but a slowdown in 2025.

The discussion began with a presentation on employment trends, indicating that Virginia's employment growth has decelerated, particularly in professional business services and accommodation and food services, with a noted decline in federal government employment in February. The data presented indicated that while Virginia's employment levels are relatively stable, they are closely aligned with national trends.

Senator Saravo raised concerns regarding the accuracy of employment data, particularly in relation to the District of Columbia, which has not recovered to pre-pandemic employment levels. The senator pointed out that many Virginia residents work in D.C., which may skew employment statistics for Virginia. The data presented focused on place of work rather than place of residence, leading to potential discrepancies in understanding Virginia's economic health.

The committee discussed the implications of these trends, noting that while Virginia maintains a low unemployment rate, the lack of population recovery in D.C. could impact Virginia's economic landscape. The conversation emphasized the importance of accurately interpreting employment data to reflect the true economic conditions of Virginia and its residents.

In conclusion, the meeting underscored the need for continued monitoring of employment trends and the effects of federal employment on Virginia's economy. The subcommittee plans to further investigate these issues to ensure that data accurately represents the state's economic situation and to address any potential discrepancies in employment reporting.