The unemployment rate in the Nation Capital Region increased for the third straight month, reaching 6.9% in August. The region’s jobless rate has now almost matched the national unemployment rate which currently sits at 7.1%. There is some good news in that most industry sectors reported steady employment levels and the region overall had a net increase of 1,900 jobs to reach 693,300. The increase in the unemployment rate was a result of approximately 3,400 job seekers entering the workforce.
When examined year-over-year, the most significant changes that have occurred in specific sectors becomes more apparent. For example the number of federal government employees in the region has fallen to 131,400 in August 2013, down by 10,600 compared to August 2012. Other sectors that have experienced marked declines in year-over-year employment numbers include retailing, construction, and information and culture.
Source : Cushman & Wakefield