Gloucester County officials have been closely monitoring local economic indicators since onset of the COVID-19 pandemic and are pleased to report that, since the low point in March/April of last year, the county’s economy appears to have recovered well so far (relative to many other communities in Hampton Roads and across Virginia) despite ongoing pandemic related challenges, according to a news release.
The county’s unemployment rate has come down to 3.8 percent—less than half the number it was in May, and year-to-date excise (meals, sales and lodging) tax revenues show 9.3 percent growth over the same reporting period last year, with steady month-to-month trends. Meanwhile, Gloucester’s tax on-time payment rate remains steady, with current fiscal year real estate tax collections lagging less than half of a percentage point versus multi-year high points realized in the prior fiscal year.
Gloucester’s unemployment rate decreased more than 50-percent from May...
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