Virginia’s opioid crisis has a well-known human cost. But what’s the financial cost? A new study shows how much it is hurting our economy.
A new report from Old Dominion University’s Center for Economic Analysis and Policy details how Virginia’s opioid crisis is undermining labor force participation. Robert McNab is deputy director at the center, and he says the problem hits different parts of the commonwealth in different ways.
“Prescription opioid overdoses are much higher in southwestern Virginia while illegal opioid overdoses are much higher what we would call the urban crescent of Northern Virginia, Richmond and Hampton Roads.”
The study estimates that the labor force participation rate data in Virginia has declined about 3 percent because of opioid addiction.
“And this suggests that the opioid crisis is not only costing Virginia in terms of lives, in terms of individuals no longer actively participating in society, but is also undermining economic performance in the commonwealth.”
Put another way, that’s about $6 billion in lost productivity.
Click here to read more about CEAP's report
This report, provided by Virginia Public Radio, was made possible with support from the Virginia Education Association.
