Overall unemployment rate moved down to 2.9% with the biggest shift in Government, which gained 6,900 roles, based on the most recently available information published in April 2023.
Total employment in the Washington-Arlington-Alexandria, DC-VA-MD-WV market rose by 29,171 jobs in February and the unemployment rate decreased compared to the prior month by 10 bps to 2.9%. The national unemployment rate increased by 3 bps over the same time to 3.9%.
- Washington-Arlington-Alexandria, DC-VA-MD-WV unemployment rate is 99 bps below the national rate which is a positive sign.
- Unemployment in the market is 70 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in February versus prior month by 2.2% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.4% . Key sectors include:
- Business Services: 803,900; +5,200
- Government: 727,200; +6,900
- Education & Healthcare: 451,900; +4,600
- Transportation & Utilities: 396,000; -6,000
- Restaurants & Hotels: 299,300; +1,100
- Other Jobs: 194,500; +900
- Construction, Mining: 161,900; +1,000
- Financial Services: 153,100; +1,100
- IT & Development: 78,200; -100
- Manufacturing: 55,900; -1,100
Data is based on the most recent 12 months available, through February 2023 (Data published April 2023 and reports created on April 10, 2023). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.