The 411 on the 202

D.C. Economic Indicators*

Labor and Industry:
– Jobs in D.C. for November 2009, up 3,600 (0.5%) from November 2008
– District resident employment for November 2009, down 11,900 (-3.9%) from November 2008

Revenue:
-Total tax revenue before earmarks declined 5.5% in FY2009 and is expected to grow 1.0% in FY2010
-Real property tax revenue increased 8.0% in FY2009 and is expected to decline 1.1% in FY2010
-Individual income tax revenue declined 16.1% in FY2009 and is expected to grow 4.2% in FY2010
– General sales tax revenue declined 5.1% in FY2009 and is expected to increase 4.0% in FY2010

People and the Economy
-D.C. unemployment rate for November: 11.8%, down 0.1% from last month & 3.8% higher than 1year ago
-The share of filers with income less than $30,000 declined by 3.5% between 2006 and 2007, while the share of filers with income $500,000 and over increased by 6.7%

Housing and Office Space:
-There were 220 condos sold in November 2009, up 38.4% from 1 year ago
-The year to date median price declined 20.4% from 1 year ago for single family homes, while condos experienced a decline of 1.4% in the year to date median price
-In the 3rd quarter of 2009 vacant commercial office space increased by 1 million square feet over that of the 2nd quarter of 2009

*Source: Office of the CFO, Office of Revenue Analysis, DC Economic Indicators, January 2010