Federal Reserve Bank of Richmond

Our work to support the nation’s economy includes a focus on the economic well-being of our District, which covers North and South Carolina, Maryland, Virginia, Washington, D.C., and most of West Virginia. Learn more about our research and engagement in our communities:

Small Town &
Rural Initiative

Understanding the economic challenges facing our smaller towns and sharing what works to address them.

Regional Data &
Analysis

Regional surveys, economic indicators and in-depth analysis of the communities in our District.

Community Development & Engagement

Working to identify economic opportunities in low- and moderate-income and underserved communities.

Latest Economic Research

Publications

Examining the Differences in r* Estimates

Economic Brief

November 2024, No. 24-36

Thomas A. Lubik and Paul Ho

Regional Economy

The Impact of Hurricane Helene on Fifth District Businesses

Regional Matters

November 26, 2024

James Melton and Jason Kosakow

Data & Analysis

Regional Economic Snapshot

December 4, 2024

This overview of the Fifth District economy includes timely analysis of labor and housing markets, including growth in payrolls.

date,United States,Fifth District,District of Columbia,Maryland,North Carolina,South Carolina,Virginia,West Virginia
10/31/2014,2.017673801,1.566202393,1.073393264,1.293815027,2.198312752,2.69184621,0.824117397,0.358917725
11/30/2014,2.02167327,1.593450191,0.882943144,1.222456409,2.322911578,2.98149596,0.7535955,0.234515106
12/31/2014,2.183202661,1.724324441,0.882943144,1.48554758,2.359939539,2.946372895,0.998990382,0.373082769
1/31/2015,2.189006259,1.87021717,2.239913642,1.315083199,2.51572327,2.78195879,1.2912139,0.415167451
2/28/2015,2.266356837,2.188800277,2.169226624,1.502664162,3.077148867,3.202328967,1.508339762,0.499029665
3/31/2015,2.129186083,1.722003052,2.01884253,1.264367816,2.364922344,2.628589134,1.15812681,-0.083056478
4/30/2015,2.099813446,1.621183658,1.515761234,1.378915202,2.053750695,2.341619062,1.351351351,-0.386366772
5/31/2015,2.194223827,1.793657832,2.151405136,1.634908537,2.298073674,2.598202824,1.541181749,-1.672331747
6/30/2015,2.061469535,1.956898155,1.561665777,1.503272949,2.413243882,2.79601888,1.66464412,0.656607991
7/31/2015,2.094538238,2.199948489,2.20293725,1.75706064,2.435440355,3.110084681,2.208135235,-0.055617353
8/31/2015,2.063091981,2.19151671,2.17362315,1.553597204,2.465601847,3.121801433,2.356884584,-0.429719989
9/30/2015,1.935312831,2.132615339,1.832912737,1.422178398,2.514395393,2.910443957,2.459081205,-0.978770334
10/31/2015,1.988498183,2.288181404,2.2434621,1.739690722,2.502751591,2.956565913,2.760639139,-1.182943604
11/30/2015,1.94306436,2.233046244,2.254342925,1.64306807,2.46353632,2.7028395,2.773242033,-1.073492981
12/31/2015,1.935653933,2.326768472,2.612385625,1.773961722,2.546086791,2.796426228,2.796338191,-0.963656388
1/31/2016,1.873906177,1.959076749,1.860894813,1.642384106,2.392162458,2.615765288,2.040655738,-1.51598677
2/29/2016,1.831983015,1.926312367,2.149545035,1.363344537,2.354057902,2.654644368,2.10702867,-1.682758621
3/31/2016,1.945006209,2.283085633,2.242744063,1.782065834,2.718681736,2.742414331,2.515558123,-0.872817955
4/30/2016,1.879576777,2.218349362,2.497357294,1.642741419,2.898928605,2.946796741,2.056099152,-1.080482061
5/31/2016,1.668797999,1.811935307,2.237725418,1.042408789,2.463542404,2.622491367,1.554175222,-0.483960177
6/30/2016,1.73400614,1.658982294,1.99763438,0.997337933,2.410575428,2.365623596,1.525806368,-1.929215822
7/31/2016,1.77901105,1.628270016,1.554539517,1.161135666,2.445735249,2.573291524,1.191337606,-1.683361157
8/31/2016,1.782874833,1.563144177,1.422605064,1.223115766,2.342887997,2.387096774,1.129389923,-1.614924126
9/30/2016,1.895055003,1.645220909,1.512977697,1.548068653,2.403576109,2.486379396,1.039255029,-1.44786301
10/31/2016,1.742832295,1.26626289,1.220462218,1.065454681,2.035480859,1.756550057,0.836476535,-1.572939866
11/30/2016,1.665149499,1.456411824,1.219037738,1.262663886,2.148032523,2.099452959,0.837967353,-0.153032832
12/31/2016,1.626328774,1.258868196,1.046782114,1.126101015,2.006735571,1.964154186,0.690943522,-1.403947734
1/31/2017,1.703958211,1.469373017,1.295672454,1.329163409,1.809103576,2.258747109,1.184998586,-0.559753708
2/28/2017,1.699311768,1.563941271,0.916602117,1.587183308,1.88259297,2.232690515,1.293568092,-0.182379349
3/31/2017,1.607896092,1.475167098,1.238709677,1.390282889,1.786828783,2.3655598,1.132143132,-0.503144654
4/30/2017,1.610638416,1.233511193,0.992651798,1.108351559,1.538780493,1.914810473,1.027791271,-0.714185688
5/31/2017,1.728966442,1.312511645,0.914123857,1.254314024,1.667357561,1.980004877,1.195137556,-1.445046547
6/30/2017,1.689882901,1.52629072,0.979255251,1.447822697,1.836128943,2.193944713,1.231948882,0.212284178
7/31/2017,1.561775594,1.383139202,0.81039362,1.081161137,1.758372931,1.916731366,1.200296243,0.31130607
8/31/2017,1.55048941,1.297593329,0.875048256,0.964451999,1.793783691,1.677087877,1.053034166,0.226404415
9/30/2017,1.405895379,1.154764519,0.693819864,0.729093788,1.63409896,1.353179973,1.054025154,0.310778359
10/31/2017,1.431732486,1.396690242,0.962031811,0.939953555,1.798133236,2.225670368,1.058551108,0.608117664
11/30/2017,1.506322837,1.100759168,0.807174888,0.838636113,1.475652868,1.916300623,0.871664549,-0.975337885
12/31/2017,1.451757101,1.185059492,0.831308351,0.621095186,1.436735809,1.81555502,1.202124685,0.239672917
1/31/2018,1.39457277,1.530217693,0.972115631,0.661375661,1.900134583,2.738209817,1.387054161,0.45032367
2/28/2018,1.512533597,1.533713006,1.189714724,0.806865694,1.893318769,2.807910147,1.2390412,0.379479972
3/31/2018,1.578341645,1.568274489,0.968646444,0.909257562,1.980287959,2.61709966,1.33221893,0.435454418
4/30/2018,1.541324321,1.692372731,1.250957365,0.861563279,2.019102067,3.139378834,1.343793496,1.029619182
5/31/2018,1.616241658,1.76276266,1.326869099,0.952904526,2.099850496,3.06059012,1.423802539,1.325250247
6/30/2018,1.623598112,1.781440383,1.301518438,0.955099352,2.035744142,3.077143266,1.444189158,1.962999576
7/31/2018,1.533671272,1.724360499,1.173918591,1.080586081,1.921992375,2.694853116,1.483836778,2.045422486
8/31/2018,1.611223427,1.75641165,1.186375813,1.108955825,1.969488699,2.936549554,1.375116696,2.188338275
9/30/2018,1.606813652,1.432573409,1.173918591,0.881008956,1.394198336,2.670226969,1.158923713,1.957470779
10/31/2018,1.616761584,1.600931845,0.85122602,0.854513585,1.964133219,2.632577554,1.24386252,1.96795052
11/30/2018,1.524681934,1.692069145,0.864260295,0.962976473,2.025083161,2.666477219,1.458695488,1.744758689
12/31/2018,1.547576277,1.463975386,0.71029934,0.960590233,1.764309764,2.445369407,1.127574083,1.322081575
1/31/2019,1.621892501,1.506480901,0.481378262,1.135202219,2.361658309,1.62068481,1.109997494,0.588400112
2/28/2019,1.359639051,1.34577101,0.707964602,0.822236775,2.123905664,1.400625613,1.103741709,0.378045365
3/31/2019,1.358241165,1.35474429,0.744761424,0.871997965,2.057631497,1.515292801,1.142242995,0.181818182
4/30/2019,1.466050422,1.294756605,0.516893596,0.810584857,1.887967266,1.579999071,1.136193378,0.321094513
5/31/2019,1.267184296,1.202787093,0.27700831,0.751497549,1.792647483,1.596213633,1.062211694,-0.139140114
6/30/2019,1.259330863,1.183095957,0.428265525,0.848194867,1.762621789,1.467185041,1.105054879,-0.747922438
7/31/2019,1.282352389,1.096023991,0.529701097,0.413118319,1.726389411,1.724697482,0.997140371,-0.940005529
8/31/2019,1.260098879,1.118023201,0.479072113,0.358358068,1.701619854,1.782985227,1.122504853,-0.939486046
9/30/2019,1.337029077,1.400972322,0.580148821,0.463835338,2.326458195,2.201374698,1.20292887,-1.174033149
10/31/2019,1.292760408,1.193777162,0.579491056,0.630023897,1.763201975,1.529786939,1.380287995,-1.58533223
11/30/2019,1.366109262,1.1698671,0.705645161,0.588894107,1.848302602,1.397794898,1.273837902,-1.618033467
12/31/2019,1.327067368,1.280906365,0.743073048,0.690977498,2.0337039,1.449743755,1.3012491,-1.221543587
1/31/2020,1.321453799,1.129527073,1.412002017,0.324827661,1.513329105,1.244526389,1.372884296,-0.236768802
2/29/2020,1.493999347,1.061789514,1.092141602,0.436633949,1.596430993,0.980708136,1.190711952,-0.446366299
3/31/2020,0.401878984,0.254345061,0.438541536,-0.763606239,0.835697142,0.289349194,0.521425394,-1.340220578
4/30/2020,-13.40022045,-11.93677145,-9.306409131,-13.92875171,-10.98258326,-13.42238895,-10.81701686,-15.04313944
5/31/2020,-11.6834838,-10.72354497,-9.944751381,-13.09815509,-9.439637323,-10.50468143,-10.36243863,-13.32032883
6/30/2020,-8.743470075,-8.412615622,-9.97115264,-11.26087269,-6.671598921,-7.40774529,-8.706890185,-8.191459671
7/31/2020,-7.747757298,-7.235538173,-9.484380881,-8.683099354,-5.730945802,-7.246707078,-7.243450857,-8.707786771
8/31/2020,-6.867784724,-6.046483996,-8.544542033,-7.967538323,-4.62180309,-5.66020566,-5.77666199,-7.69874477
9/30/2020,-6.301616036,-5.41633143,-8.764890282,-7.163468475,-3.981447366,-5.180405344,-5.035068291,-7.058001398
10/31/2020,-5.919132697,-4.885422773,-9.130761523,-6.710564191,-3.04946721,-4.374544792,-4.930821313,-6.219358454
11/30/2020,-5.87145438,-4.733949784,-9.396896897,-6.817039006,-2.811905174,-3.921747043,-4.847370357,-5.692999719
12/31/2020,-6.109676399,-4.449503856,-9.688711089,-6.668343333,-2.339054866,-3.472443453,-4.633147844,-5.564924115
1/31/2021,-6.00414351,-4.526084244,-10.36797613,-6.230888225,-2.634696999,-3.373548828,-4.632458992,-6.533575318
2/28/2021,-5.821061132,-4.408066242,-10.49298398,-6.330614738,-2.410831522,-3.036658763,-4.662768794,-5.80075662
3/31/2021,-4.389720208,-3.38794926,-9.867764471,-4.816522086,-1.38705559,-2.331013006,-3.84492465,-4.188481675
4/30/2021,10.86634821,10.12116839,0.248928226,10.10431067,12.05560732,12.79260238,8.399778516,10.85995086
5/31/2021,9.022850271,8.892033248,1.310652538,9.250735995,10.48375451,9.272773667,8.100520217,9.033917377
6/30/2021,5.932948313,6.151916437,1.922541098,6.828952165,7.279086034,5.630819252,6.031925794,3.161574707
7/31/2021,5.401465096,5.666894567,2.00970201,5.070544995,6.95870935,5.970222593,5.316664012,4.524610211
8/31/2021,4.583232699,4.391813564,1.413088215,4.522652453,5.438100879,4.282820488,3.876495481,3.550921729
9/30/2021,4.150331406,3.577579295,2.295217152,3.535628254,4.464809715,3.709383686,2.907564332,2.706766917
10/31/2021,4.261963746,3.749948062,3.749138525,3.536853473,4.537128049,3.874898843,3.078391908,2.808065721
11/30/2021,4.508234042,3.805819609,4.184504903,3.804347826,4.537968486,3.641443318,3.125644197,2.951259502
12/31/2021,5.083568391,3.890916604,4.761904762,4.115178812,4.42270232,3.587930222,3.246536257,3.199404762
1/31/2022,4.96655378,3.418109792,4.6740638,3.22271245,4.026905036,3.425367508,2.606890188,3.420463032
2/28/2022,5.181849236,4.174451833,4.897336293,3.99294235,4.755497717,4.429605944,3.433322214,3.67395508
3/31/2022,4.918419119,3.780978172,5.051903114,2.913361806,4.627841657,4.037136025,3.157517961,2.879929109
4/30/2022,4.875063108,4.05588964,4.676507104,3.078035232,4.708662451,4.591024079,3.723757471,3.014184397
5/31/2022,4.746145997,3.94791447,4.472887421,2.967967208,4.550603407,4.506818606,3.493405306,3.980539584
6/30/2022,4.475319225,3.631116091,3.471842537,2.392417062,4.490133009,4.477194292,3.262721562,2.25430971
7/31/2022,4.277021825,3.591046647,3.668478261,2.614157827,4.430106599,4.47927293,3.044585024,1.988885639
8/31/2022,4.112724655,3.589888548,2.867965368,2.223472066,4.764374149,4.34742392,3.163506513,1.838610827
9/30/2022,3.947029911,3.88483494,2.230283488,2.581807265,5.008643042,4.704251386,3.563244441,2.43045388
10/31/2022,3.588304188,2.889525221,0.876843364,1.504991805,3.882893472,3.734934238,2.816231507,1.481911957
11/30/2022,3.323123119,2.807781128,0.874867444,1.217927296,3.721445147,3.522639009,2.836011094,2.47574924
12/31/2022,3.023443708,2.413495957,0.581395349,0.573097685,3.442574299,3.331664467,2.507095553,1.139149243
1/31/2023,3.172370579,3.249940148,1.272028621,1.717152946,4.262378765,3.712814906,3.427515052,1.993067591
2/28/2023,2.773138206,2.578913704,1.124189922,1.003245795,3.381550965,2.83231268,2.994368503,1.606886657
3/31/2023,2.534187752,2.691073464,0.948616601,1.604416778,3.200436232,3.353163872,2.964211361,1.6221648
4/30/2023,2.533598871,2.308373512,1.120189773,1.395245829,2.946400585,2.606826122,2.349059391,1.57773953
5/31/2023,2.540018956,2.218048065,1.159267554,1.367489864,2.810709449,2.475756357,2.445505093,0.467886006
6/30/2023,2.414865965,2.653307296,1.690885073,2.043990224,2.999292816,2.754218373,2.795153426,2.521613833
7/31/2023,2.073341262,1.80289791,0.589777195,0.890729812,2.097324104,2.298952601,2.037422037,1.67765988
8/31/2023,2.048525258,1.805506828,0.355076276,0.942669552,2.114012292,2.521939544,1.879387676,1.86273105
9/30/2023,2.03926115,1.698385853,0.683401235,0.643839625,2.002140006,2.378850737,1.818800759,1.901086335
10/31/2023,1.907119697,1.722393056,0.803371526,0.579859072,1.806138402,2.871532073,1.833365797,2.219040802
11/30/2023,1.854626837,1.654583118,0.643889619,0.487912249,1.804224225,3.023214759,1.742151813,1.313930489
12/31/2023,1.952803469,1.721024459,0.709406201,0.562479321,1.758268782,2.920318901,1.797294343,2.723125178
1/31/2024,1.800701673,1.457564457,0.562606306,0.171739686,1.503467972,3.087938153,1.429917152,1.996601529
2/29/2024,1.764478266,1.409066365,0.693172901,0.189891908,1.376810118,2.955729737,1.450043357,1.89212087
3/31/2024,1.868484466,1.385350829,0.326285565,0.06928996,1.158371776,2.912960056,1.819757366,1.709280972
4/30/2024,1.755807672,1.552281296,0.364915939,0.127411722,1.337663656,3.466038065,1.927055767,1.46851172
5/31/2024,1.696547209,1.678181085,0.651126449,0.272717356,1.501702335,3.554140683,1.96685879,1.707592436
6/30/2024,1.615745993,1.535259909,0.246817355,0.261267146,1.357027464,3.497111082,1.851896217,0.899508082
7/31/2024,1.588236424,1.656568755,0.325732899,0.439616335,1.608986035,3.561822126,1.800182176,1.114088281
8/31/2024,1.501716521,1.601179346,0.956624296,0.526889535,1.506735877,3.337512429,1.658093073,1.125334084
9/30/2024,1.484677692,1.585278826,0.887612583,0.828729282,1.476669827,3.198689486,1.573768926,0.827605555
10/31/2024,1.38555907,1.53442899,0.940684609,0.890315989,1.53162255,2.653955166,1.621040048,0.504201681

Careers at the Fed

Life at the Richmond Fed

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Our approach is about enhancing work and life experiences. Think generous paid days off, a pension and retirement savings plan, wellness offerings, development opportunities and more.