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DC Economic Indicators

Labor & Industry (1)
-In May 2008, 21,900 people were out of work in D.C. In May 2009, that number jumped to 35,200, representing an increase of 4.1 percentage points from 6.6 percent to 10.7 percent.
-Despite D.C.’s high rate of jobless people, between April and May of this year, D.C. reported a rise in employment by 2,800, with payroll numbers in its government sector increasing by 900. That data is also seasonally adjusted by BLS economists.

Housing & Office Space (2)
-There were 248 condos sold in March 2009, up 11.2% from 1 year ago
-The year to date median price declined 30.8% from 1 year ago for single family homes, while condos experienced an increase of 1.5% in the year to date median price
-In the 1st quarter of 2009 vacant commercial office space increased by 1.3 million square feet over that of the 4th quarter of 2008.

Cash Collections (2)
-FY 2009 (Oct. – Mar.) Individual income tax collections down 9.1% from 1 year ago
-FY 2009 (Oct. – Mar.) All deed tax collections down 51.4% from 1 year ago
-FY 2009 (Oct. – Mar.) Total collections before earmarking down 9.4% from 1 year ago

Source (1): Bureau of Labor Statistics report, as reported in the Washington Business Journal, Friday, June 19, 2009 by Tierney Plumb “D.C. unemployment at 10.7%”
Source (2): D.C. Economic Indicators publication, May 2009, District of Columbia Government)

Posted Under: DC News