“The February employment report might have been soft, but business expectations for both demand and hiring in 2026 held up among respondents,” said Sonya Ravindranath Waddell, vice president and economist with the Richmond Fed. “Most firms expected demand to increase in the next 12 months and reported continued hiring, albeit more for replacement than for new positions. Very few firms expected declining demand or a need to lay off workers.”  View the full results >