Overall unemployment rate moved down to 2.7% with the biggest shift in Restaurants & Hotels, which gained 9,700 roles, based on the most recently available information published in May 2023.
Total employment in the Washington-Arlington-Alexandria, DC-VA-MD-WV market rose by 44,695 jobs in March and the unemployment rate decreased compared to the prior month by 20 bps to 2.7%. The national unemployment rate decreased by 27 bps over the same time to 3.6%.
- Washington-Arlington-Alexandria, DC-VA-MD-WV unemployment rate is 92 bps below the national rate which is a positive sign.
- Unemployment in the market is 40 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in March versus prior month by 1.3% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.5% . Key sectors include:
- Business Services: 805,100; +2,100
- Government: 728,400; -400
- Education & Healthcare: 455,900; +3,100
- Transportation & Utilities: 395,100; -800
- Restaurants & Hotels: 309,400; +9,700
- Other Jobs: 195,100; +1,100
- Construction, Mining: 163,300; +1,400
- Financial Services: 153,500; +800
- IT & Development: 79,000; +600
- Manufacturing: 55,900; +200
Data is based on the most recent 12 months available, through March 2023 (Data published May 2023 and reports created on May 9,2023). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.