By Jonathan AbermanFrom The Washington Post: Many in the greater Washington business community woke up this morning to a very uncertain work week. A federal […]
What Does a Shutdown Mean for the Washington Region’s Economy?
- Post author By SFI Admin
- Post date January 22, 2018
Events
Blog
During a shutdown, the federal government stops contributing to key components of the Washington region’s economy, including civilian and military wages and salaries, procurement and grants. Altogether, the federal government accounts for 29.9 percent of the regional economy and pays $2.5 billion each week for work being performed in the region. During the shutdown, a significant portion of this activity will stop. The key question, however, is how much of that lost spending and economic activity will be made up later and how much will be forgone entirely. Even if the majority of the spending is made up post-shutdown, losses in efficiency, distributional impacts, and increased uncertainty will have a modest economic costs, which will increase as the shutdown continues. Without back pay, the economic impact is projected to be significant and a three-week shutdown could cost the region upwards of 0.26 percent of its gross regional product.
The shutdown begins: D.C. stresses it remains open for business
- Post author By Keith Waters
- Post date January 21, 2018
Events
Blog
From The Washington Business Journal: Reaction started to pour in Saturday morning as Greater Washington woke up to its first government shutdown since 2013. Destination […]
‘It’s like the factory shut down’: for Washington region, furlough’s impact is acute
- Post author By Keith Waters
- Post date January 21, 2018
Events
Blog
From The Washington Post: On Monday morning, Steve Polkinghorn will start his difficult daily journey to work about 5 a.m. Polkinghorn, a manager with the U.S. […]
Greater Washington’s economy is on the upswing — but it still lags behind the national average
- Post author By Keith Waters
- Post date January 18, 2018
Events
Blog
From The Washington Business Journal: Greater Washington’s economy grew better than expected last year and is on track for a stronger 2018 — although it’s […]