Youngkin: Federal jobs cuts need to happen, Virginia has plenty of ‘good jobs’ available

Governor Glenn Youngkin continues to show support for the Trump administration’s federal job cuts while also remaining optimistic about the Virginia’s financial position and outlook.

Federal cuts needed

Explaining his position on CNBC, the governor said the reality is that running $37.5 trillion in debt and adding $2 trillion a year “is not just unsustainable. But I think it’s to the detriment of the future of the country.”

“So, this has to happen. We need to rein in spending and establish fiscal reality back into the federal government,” he stated.

Muted impact

Virginia is estimated to have 144,000 federal workers. But Youngkin pointed out that first-time unemployment claims have remained steady, and the state hasn’t really seen the impact of the federal job cuts yet.

“We are insulated a bit because of the disproportionate amount of jobs in Virginia are defense and national security and intelligence jobs,” he explained.

“But with that said, I expect we’ll see job losses,” he added.

Plenty of ‘Good Jobs’

Youngkin acknowledges when those jobs losses hit, it will be “disruptive and terrible for families.”

But, he continues to insist that Virginia’s economy is roaring and offers a path forward to those who will need it.

In late February, the governor held an event touting the abundance of opportunity in Virginia, which included 250,000 jobs with 100,000 of those in Northern Virginia. This week on CNBC, he reiterated that those jobs are still posted and unfilled.

The positions that are available are good, high-paying jobs, according to Youngkin. He acknowledged “they’re not perfect matches” so some retraining and reskilling will probably be required.

“It’s a great transition for folks to get in the private sector,” Youngkin said.

Meanwhile, the unemployment trust fund is “at record levels” with $1.5 billion, the governor pointed out.

“Virginia’s got jobs. And, listen, America’s got jobs,” he told the hosts on CNBC.

Opportunity keeps coming

The governor expects to the see the jobs keep rolling in because businesses want in.

Virginia’s economic pipeline has never been more full, and multinational companies are calling the governor daily saying they want to come to the Commonwealth, he claimed.

Asked about the paralysis that businesses are experiencing due to the uncertainty, Youngkin he’s not seeing paralysis in Virginia, he’s seeing “big moves.”

VA finances strong

Reporting from Youngkin’s administration also carries the tone that while there’s reason to monitor the economy, the state looks fine.

The March 2025 revenue report from Virginia’s Secretary of Finance makes statements, such as:

Year-to-date general fund revenue is up 5.8% compared to last year.
Employment decreased by 1,000, but is 1.3% higher than February 2024.
Retail sales continued to grow at a healthy pace in February.

“Virginia is in a very strong position from a financial and job opening standpoint and overall economic conditions and revenue collections to-date are consistent with our forecast,” Finance Secretary Stephen Cummings concluded.