By Michelle Lancaster. You can follow her and let her know your news on Twitter @MichLancaster. Email her at michellel[AT]borderstan.com.
Yes, newcomers, “DMV” stands for DC, Maryland and Virginia…
While the Obama Administration has all but broadcasted the lowered unemployment rate from the top of the White House, you may be unaware of our little bubble within DC, Maryland and Virginia.
Throughout the economic crisis, residents have been relatively blessed with fewer than average foreclosures, steady value on their homes and a lower unemployment rate. Nationwide, the unemployment rate is 8.3% – the same it was in January. In Maryland, unemployment fell to 6.5%; Virginia was lower still at 5.8% and the District was a little higher at 9.9%. The Washington Business Journal gives us the facts; you can give us the rationale in the comments below.
I am also reminded of Scott Thompson’s “Neverland” post from last week. While DC’s overall rate is still higher than the national rate, that’s note the case here in large parts of Northwest. For example, the unemployment rate in Ward 2 (Dupont-Logan-Georgetown, NoMa) was only 5% in January — and 2.6% in Ward 3.