HAMPTON ROADS, Va. — According to the Hampton Roads Alliance, the February unemployment rate in Hampton Roads has dropped to 3.2%, which is below the first quarter national average of 3.8%.
"We've worked hard to create an environment that is conducive to economic growth and job creation, and this drop in the unemployment rate is a testament to the regions collective efforts," said Doug Smith, president and CEO of Hampton Roads Alliance.
Smith says that the Alliance's collaboration with the Hampton Roads Workforce Council on workforce development will be a key driver of economic growth in the region.
"We believe that regional workforce development is essential to economic development," Smith said. "By investing in our workforce, we are not only helping to create jobs but also building a strong, sustainable and resilient economy for the future."
Jared Chalk, chief business development officer at the Hampton Roads Alliance, says their talent pipeline comes from the Hampton Roads region having a competitive edge over almost every other region when it comes to recruiting businesses.
"Each year, roughly 14,000 military personnel leave service and enter the private sector, roughly 7,000 of them stay here in Hampton Roads, which offers businesses in the region an abundance of skilled, experienced, and highly disciplined workers," Chalk said.
According to President and CEO of the Hampton Roads Workforce Council Shawn Avery, they are ready to help businesses and anyone looking for a job.
"It is an exciting time for our regional workforce, and the Hampton Roads Workforce Council is poised and more equipped than ever to provide the support that our businesses and job seekers demand as our economy continues to recover and adapt to the changing work environment," Avery said.
Hampton Roads Alliance says by collaborating and leveraging their collective resources, Hampton Roads leaders believe they can develop comprehensive workforce programs that address regional needs and fuel economic growth.
The collaboration effort continues on Friday, April 14 when the Hampton Roads Alliance and the Hampton Roads Workforce Council hosts an in-depth investor discussion about the skills young adults need to successfully enter the 21st century workplace.
The panel will feature leaders from industry, higher education and military.
The Hampton Roads Alliance, in collaboration with the Hampton Roads Workforce Council, says they've been working closely with businesses and community leaders to identify workforce needs and develop programs to meet them.
"We believe that a strong workforce is the foundation of a strong economy, and we are proud to be playing a key role in the economic success of Hampton Roads," said Smith.
