Planning for the Washington Region’s Future: Regionalism

3rd Annual Economic Forum Remarks by Bob Buchanan, Principal, Buchanan Partners, LLC; President, The 2030 GroupDownload remarks as a PDF>> As we transition from one decade to another and discuss where our region is now and where we’d like it to be in 10 years, I want to take this opportunity to give the perspective from one

National Jobs Revisions & Regional Jobs in July

On August 21, 2019, the U.S. Bureau of Labor Statistics (BLS) released the preliminary revision for national jobs data. According this preliminary adjustment, the U.S. added 501,000 (20.1%) fewer jobs between March 2018 and March 2019 than were initially reported. Despite this revision, revisions in March 2020 to local jobs data will not necessarily be as large, because the jobs being revised away from the national estimate were never allocated to any state-level data.

The Washington Region Added 29,800 Jobs between April 2018 & April 2019

The Washington region’s job growth in 2019 continues to be subdued and the average gain in the first four months was 28,200, 20.0 percent smaller than the gain in 2018. Job growth in the region has also been increasingly concentrated both by sector and geography, a trend that extends back to the 2014. The Professional & Business Services and Leisure & Hospitality sectors accounted for nearly all (99.9%) of the average growth in the first four months of 2019. Similarly, job growth has been disproportionately concentrated in Northern Virginia, which captured 91.3 percent of the year-to-date gains.