The Washington, D.C., metropolitan areas is one of the best-performing during the post-recession era, according to MetroMonitor, a quarterly report by Brookings Institute’s Metropolitan Policy Program.
By the second quarter of 2010, Washington was one of the 10 best overall cities nationwide in terms of improvements in employment, gross metropolitan area product, and housing prices since the beginning of the recession.
Washington also was one of 10 metropolitan areas in the country that regained more than a quarter of the jobs it had lost between its pre-recession high and post-recession low. According to the U.S. Bureau of Labor statistics, Washington has an unemployment rate of only 6.3 percent compared to the national average of 9.6 percent. Job postings in the D.C. area are up 6 percent as of last year, according to the Monster Employment Index.
Lawrence Mishel, president of the Economic Policy Institute told World News Heard Now that “The stability that D.C. has shown throughout this recession is building confidence with businesses around here.”