Job Change in 2020 & January 2021

Download Full Report as a PDF>> The Washington region lost 197,000 jobs in 2020 and the losses during the pandemic were larger than initially estimated by the Bureau of Labor Statistics. The Leisure & Hospitality sector had the largest percentage losses (-28.8%), followed by Retail Trade (-8.4%) and Other Services (-8.4%); these sectors also had

The Washington Region’s Economic Recovery: A 1Q 2021 Update

Download Full Report as a PDF>> Health Metrics The 2020 Recession has been the result of a health crisis and the health metrics will continue to determine the speed at which the Washington region’s economy recovers. Specifically, changes in consumer behavior in reaction to the abating health crisis will lead to increased economic activity. These

The Washington Region’s 2020 Recession & Near-Term Outlook

The 2020 economic recession is the result of the COVID-19 pandemic; activities that were previously safe became higher risk, or had higher uncertainty about their safety, and consumers and businesses changed their behavior in response. This health crisis is not yet resolved and its trajectory will continue to be the main factor in the economic recovery. Similarly, the improving understanding about which activities pose the highest risk and actions that can be taken to mitigate risk will continue to alter consumer and business preferences.

The Effect of the Coronavirus Pandemic on the Washington Region’s Economy

The coronavirus pandemic has ended the longest business expansion on record. Unlike prior business cycles, the Washington region’s economy is not disproportionately insulated from its effects and will mirror the trajectory of the U.S. Based on a scenario in which the coronavirus affects normal operations through May 2020, the national economy is projected to contract 0.2 percent in 2020 and the Washington region’s economy will stall, increasing by 0.1 percent for the year. The effects will be most pronounced for service industries that rely on discretionary spending and those that have strong international ties, especially business that rely on international manufacturing.

Long Bridge Expansion

The Long Bridge is a two-track railroad bridge crossing the Potomac River between Arlington County, VA and Washington, D.C. A new two-track rail bridge, a fourth track addition in Alexandria and station improvements to L’Enfant, Crystal City, and Alexandria are being examined (the Long Bridge projects). These improvements would allow an increase of the total number of daily trains crossing the Long Bridge by 80 trains compared to a no-build scenario. The addition of 80 daily trains crossing the Long Bridge will benefit the national economy and the economies of Virginia, Maryland and the District.