Federal Reserve Bank of Richmond

Region & Communities

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

What Survey Measures of Inflation Expectations Tell Us

Economic Brief

January 2023, No. 23-03

Erin Henry, Conner Mulloy and Pierre-Daniel G. Sarte

Regional Economy

Regional Economic Snapshot

Jan. 25, 2023

Payrolls increased in the District of Columbia, North Carolina and Virginia but fell in Maryland, South Carolina and West Virginia.

Data & Analysis

Employment Growth in the Fifth District

February 1, 2023

Learn more about your state’s labor and housing markets in this month's Regional Economic Snapshot.

        Month,United States,Fifth District,District of Columbia,Maryland,North Carolina,South Carolina,Virginia,West Virginia
2012-12-01,  1.6,  1.5,  1.5,  1.3,  2.0,  2.1,  1.3, -0.3
2013-01-01,  1.5,  1.3,  1.3,  1.1,  1.7,  1.7,  1.1, -0.2
2013-02-01,  1.5,  1.3,  1.4,  1.1,  1.8,  1.6,  1.1, -0.3
2013-03-01,  1.4,  1.2,  1.2,  0.9,  1.7,  1.4,  1.0, -0.5
2013-04-01,  1.5,  1.3,  2.1,  1.0,  1.7,  1.7,  0.9, -0.5
2013-05-01,  1.6,  1.1,  1.4,  1.1,  1.5,  1.8,  0.8, -1.6
2013-06-01,  1.7,  1.3,  1.5,  1.1,  1.7,  1.9,  0.8,  0.2
2013-07-01,  1.7,  1.4,  1.8,  1.1,  1.8,  2.1,  1.0,  0.2
2013-08-01,  1.7,  1.3,  1.7,  1.0,  1.8,  2.1,  0.8,  0.3
2013-09-01,  1.7,  1.2,  1.8,  0.8,  2.0,  2.3,  0.5, -0.5
2013-10-01,  1.8,  1.1,  0.9,  0.6,  1.9,  2.4,  0.1, -0.4
2013-11-01,  1.8,  1.2,  1.2,  0.9,  1.8,  2.1,  0.3,  0.0
2013-12-01,  1.7,  1.0,  1.2,  0.5,  1.9,  2.4,  0.1, -0.3
2014-01-01,  1.7,  0.9,  0.4,  0.4,  1.8,  2.4,  0.0, -0.7
2014-02-01,  1.6,  0.6,  0.4,  0.3,  1.3,  2.1, -0.3, -1.0
2014-03-01,  1.7,  0.9,  0.5,  0.3,  1.7,  2.7, -0.2, -0.8
2014-04-01,  1.8,  1.3,  0.2,  0.7,  2.1,  2.8,  0.5, -0.4
2014-05-01,  1.8,  1.5,  0.1,  0.9,  2.2,  2.9,  0.9,  1.0
2014-06-01,  1.9,  1.4,  1.1,  0.9,  2.3,  2.7,  0.9, -1.5
2014-07-01,  2.0,  1.3,  0.9,  0.7,  2.3,  2.4,  0.8, -1.0
2014-08-01,  1.9,  1.4,  0.8,  1.1,  2.2,  2.5,  0.7, -0.6
2014-09-01,  2.0,  1.4,  0.6,  1.2,  2.1,  2.6,  0.8,  0.1
2014-10-01,  2.0,  1.5,  1.1,  1.2,  2.2,  2.7,  0.8,  0.3
2014-11-01,  2.0,  1.6,  0.9,  1.2,  2.3,  3.0,  0.7,  0.2
2014-12-01,  2.2,  1.7,  0.9,  1.5,  2.3,  2.9,  1.0,  0.3
2015-01-01,  2.2,  1.9,  2.2,  1.3,  2.5,  2.8,  1.3,  0.3
2015-02-01,  2.3,  2.2,  2.2,  1.5,  3.1,  3.2,  1.5,  0.4
2015-03-01,  2.1,  1.7,  2.0,  1.3,  2.3,  2.6,  1.2, -0.2
2015-04-01,  2.1,  1.6,  1.5,  1.4,  2.0,  2.3,  1.3, -0.4
2015-05-01,  2.2,  1.8,  2.2,  1.6,  2.3,  2.6,  1.5, -1.7
2015-06-01,  2.1,  1.9,  1.6,  1.5,  2.4,  2.8,  1.7,  0.7
2015-07-01,  2.1,  2.2,  2.2,  1.7,  2.4,  3.1,  2.2, -0.1
2015-08-01,  2.1,  2.2,  2.2,  1.5,  2.4,  3.1,  2.4, -0.4
2015-09-01,  1.9,  2.1,  1.8,  1.4,  2.5,  2.9,  2.5, -1.0
2015-10-01,  2.0,  2.3,  2.2,  1.6,  2.5,  3.0,  2.8, -1.2
2015-11-01,  1.9,  2.2,  2.3,  1.5,  2.4,  2.7,  2.8, -1.1
2015-12-01,  1.9,  2.3,  2.6,  1.6,  2.5,  2.8,  2.8, -0.9
2016-01-01,  1.9,  1.9,  1.9,  1.6,  2.4,  2.6,  2.1, -1.5
2016-02-01,  1.8,  1.9,  2.1,  1.3,  2.3,  2.7,  2.1, -1.6
2016-03-01,  1.9,  2.3,  2.2,  1.7,  2.7,  2.7,  2.5, -0.8
2016-04-01,  1.9,  2.2,  2.5,  1.5,  2.9,  2.9,  2.1, -1.1
2016-05-01,  1.7,  1.8,  2.2,  1.0,  2.4,  2.6,  1.6, -0.5
2016-06-01,  1.7,  1.6,  2.0,  0.9,  2.4,  2.4,  1.5, -1.9
2016-07-01,  1.8,  1.6,  1.6,  1.1,  2.4,  2.6,  1.2, -1.7
2016-08-01,  1.8,  1.5,  1.4,  1.2,  2.3,  2.4,  1.1, -1.6
2016-09-01,  1.9,  1.6,  1.5,  1.5,  2.4,  2.5,  1.0, -1.4
2016-10-01,  1.7,  1.3,  1.2,  1.1,  2.0,  1.8,  0.8, -1.5
2016-11-01,  1.7,  1.4,  1.2,  1.2,  2.1,  2.1,  0.8, -0.1
2016-12-01,  1.6,  1.2,  1.0,  1.1,  1.9,  2.0,  0.7, -1.4
2017-01-01,  1.7,  1.4,  1.3,  1.3,  1.7,  2.3,  1.2, -0.5
2017-02-01,  1.7,  1.5,  0.9,  1.6,  1.8,  2.2,  1.3, -0.2
2017-03-01,  1.6,  1.5,  1.2,  1.3,  1.8,  2.4,  1.1, -0.5
2017-04-01,  1.6,  1.2,  1.0,  1.1,  1.5,  1.9,  1.0, -0.7
2017-05-01,  1.7,  1.3,  0.9,  1.2,  1.6,  2.0,  1.2, -1.4
2017-06-01,  1.7,  1.5,  1.0,  1.4,  1.8,  2.2,  1.3,  0.2
2017-07-01,  1.6,  1.4,  0.8,  1.1,  1.7,  1.9,  1.2,  0.3
2017-08-01,  1.6,  1.3,  0.9,  0.9,  1.8,  1.7,  1.0,  0.2
2017-09-01,  1.4,  1.1,  0.7,  0.7,  1.6,  1.4,  1.0,  0.3
2017-10-01,  1.4,  1.4,  1.0,  1.0,  1.8,  2.2,  1.1,  0.6
2017-11-01,  1.5,  1.1,  0.8,  0.8,  1.5,  1.9,  0.9, -0.9
2017-12-01,  1.5,  1.2,  0.8,  0.6,  1.4,  1.8,  1.2,  0.3
2018-01-01,  1.4,  1.5,  1.1,  0.7,  1.7,  2.8,  1.3,  0.4
2018-02-01,  1.5,  1.5,  1.3,  0.9,  1.7,  2.8,  1.2,  0.4
2018-03-01,  1.6,  1.5,  1.0,  0.9,  1.8,  2.7,  1.3,  0.4
2018-04-01,  1.6,  1.7,  1.3,  0.9,  2.0,  3.1,  1.3,  1.1
2018-05-01,  1.6,  1.8,  1.2,  1.0,  2.1,  3.1,  1.4,  2.4
2018-06-01,  1.6,  1.7,  1.2,  0.9,  2.0,  3.0,  1.3,  1.7
2018-07-01,  1.6,  1.7,  1.1,  1.1,  2.0,  2.7,  1.4,  1.9
2018-08-01,  1.6,  1.8,  1.1,  1.1,  2.0,  3.0,  1.4,  2.2
2018-09-01,  1.6,  1.4,  1.2,  0.9,  1.3,  2.6,  1.2,  1.8
2018-10-01,  1.6,  1.6,  0.9,  0.9,  1.9,  2.7,  1.3,  1.9
2018-11-01,  1.5,  1.7,  0.9,  1.0,  2.0,  2.7,  1.5,  1.6
2018-12-01,  1.6,  1.5,  0.8,  1.0,  1.7,  2.5,  1.2,  1.4
2019-01-01,  1.7,  1.6,  0.5,  1.1,  2.4,  1.7,  1.3,  0.9
2019-02-01,  1.4,  1.4,  0.7,  0.8,  2.1,  1.4,  1.2,  0.6
2019-03-01,  1.4,  1.3,  0.7,  0.8,  2.0,  1.5,  1.2,  0.4
2019-04-01,  1.5,  1.3,  0.5,  0.8,  1.9,  1.5,  1.2,  0.3
2019-05-01,  1.3,  1.2,  0.5,  0.7,  1.9,  1.5,  1.1, -1.2
2019-06-01,  1.2,  1.2,  0.6,  0.8,  1.9,  1.5,  1.2, -0.5
2019-07-01,  1.3,  1.1,  0.5,  0.3,  1.8,  1.7,  1.0, -0.9
2019-08-01,  1.2,  1.1,  0.5,  0.4,  1.8,  1.7,  1.1, -1.0
2019-09-01,  1.3,  1.4,  0.6,  0.4,  2.4,  2.2,  1.1, -1.3
2019-10-01,  1.2,  1.2,  0.6,  0.6,  1.8,  1.6,  1.4, -1.6
2019-11-01,  1.3,  1.2,  0.7,  0.6,  1.8,  1.5,  1.3, -1.6
2019-12-01,  1.3,  1.3,  0.8,  0.6,  2.0,  1.5,  1.3, -1.3
2020-01-01,  1.4,  1.1,  1.4,  0.4,  1.6,  1.3,  1.3, -0.4
2020-02-01,  1.6,  1.1,  1.0,  0.5,  1.6,  1.1,  1.3, -0.4
2020-03-01,  0.4,  0.3,  0.4, -0.7,  0.8,  0.3,  0.5, -1.2
2020-04-01,-13.4,-12.0, -9.6,-14.1,-11.0,-13.4,-10.8,-14.9
2020-05-01,-11.6,-10.8,-10.0,-13.1, -9.6,-10.5,-10.5,-13.2
2020-06-01, -8.7, -8.4, -9.8,-11.2, -6.7, -7.5, -8.8, -8.2
2020-07-01, -7.9, -7.3, -9.2, -8.7, -5.7, -7.3, -7.5, -8.6
2020-08-01, -6.9, -6.1, -8.3, -7.8, -4.7, -5.8, -5.8, -7.9
2020-09-01, -6.4, -5.4, -8.4, -7.1, -4.0, -5.2, -5.0, -7.1
2020-10-01, -6.0, -5.0, -8.6, -6.9, -3.2, -4.4, -5.0, -6.3
2020-11-01, -5.9, -4.8, -8.7, -6.7, -3.0, -4.1, -4.9, -5.7
2020-12-01, -6.1, -4.4, -9.0, -6.6, -2.4, -3.6, -4.7, -5.7
2021-01-01, -6.0, -4.5, -9.7, -6.1, -2.7, -3.4, -4.7, -6.5
2021-02-01, -5.8, -4.4, -9.8, -6.2, -2.5, -3.0, -4.6, -5.8
2021-03-01, -4.4, -3.4, -9.0, -4.7, -1.4, -2.4, -3.9, -4.2
2021-04-01, 10.9, 10.1,  1.3, 10.4, 11.9, 12.7,  8.3, 10.9
2021-05-01,  9.0,  8.9,  2.4,  9.4, 10.4,  9.2,  8.0,  8.9
2021-06-01,  5.8,  6.2,  2.8,  6.7,  7.6,  5.4,  5.9,  3.1
2021-07-01,  5.3,  5.7,  2.8,  5.0,  7.1,  6.0,  5.1,  4.4
2021-08-01,  4.4,  4.5,  2.1,  4.5,  5.7,  4.3,  3.7,  3.4
2021-09-01,  4.0,  3.4,  2.5,  3.4,  4.6,  3.2,  2.7,  2.5
2021-10-01,  4.0,  3.3,  3.9,  3.6,  4.0,  2.7,  2.6,  2.3
2021-11-01,  4.2,  3.3,  4.2,  3.7,  3.8,  2.7,  2.7,  2.3
2021-12-01,  4.7,  3.2,  4.6,  3.7,  3.6,  2.5,  2.7,  2.6
2022-01-01,  4.7,  3.1,  4.7,  3.0,  3.8,  2.5,  2.4,  2.7
2022-02-01,  4.7,  3.5,  5.0,  3.4,  4.2,  3.2,  3.0,  2.6
2022-03-01,  4.4,  3.4,  4.8,  3.2,  4.2,  2.7,  2.9,  2.1
2022-04-01,  4.5,  3.4,  4.9,  2.9,  3.9,  3.1,  3.2,  2.6
2022-05-01,  4.5,  3.4,  4.1,  3.0,  3.7,  3.3,  3.3,  4.1
2022-06-01,  4.3,  3.4,  3.5,  3.4,  3.4,  3.7,  3.3,  2.9
2022-07-01,  4.1,  3.2,  3.3,  3.0,  3.4,  3.7,  3.0,  2.7
2022-08-01,  4.0,  3.3,  2.6,  2.8,  3.8,  4.0,  3.0,  2.9
2022-09-01,  3.9,  3.8,  2.7,  3.3,  4.4,  4.4,  3.4,  3.8
2022-10-01,  3.6,  3.4,  1.4,  2.2,  4.3,  4.1,  3.1,  3.1
2022-11-01,  3.3,  3.2,  1.5,  1.9,  4.4,  3.7,  2.8,  3.7
2022-12-01,  3.0,  2.9,  1.3,  1.6,  4.1,  3.3,  2.6,  1.9

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FOMC Approves Quarter-Point Hike

The Pandemic-Era Teacher Shortage