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While recent headlines tout the national unemployment rate dropping below 6% for the first time since 2008, the Washington area experienced an uptick in unemployment as the federal government continues to shed jobs in the region. In Northern Virginia, the unemployment rate increased during the third quarter by 0.4 percentage point (pp) to 4.7%. This figure also represents a slight increase from the same period last year. Despite fewer employment gains in Northern Virginia, the market continues to outperform the nation and the rest of the region.
Source : Cushman & Wakefield
