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

Why Are Economists Still Uncertain About the Effects of Monetary Policy?

Economic Brief

May 2023, No. 23-15

Paul Ho

Regional Economy

Rural Spotlight: Giving the Old High School a Second Life as Affordable Housing in Carroll County

Rural Spotlights

May 18, 2023

Sierra Latham

Data & Analysis

Regional Economic Snapshot

May 17, 2023

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

        Month,United States,Fifth District,District of Columbia,Maryland,North Carolina,South Carolina,Virginia,West Virginia
3/1/2013,1.5,1.2,1.2,0.9,1.7,1.4,1,-0.6
4/1/2013,1.5,1.3,2.1,1,1.7,1.7,0.9,-0.6
5/1/2013,1.6,1.1,1.4,1.1,1.5,1.8,0.9,-1.7
6/1/2013,1.7,1.3,1.5,1.1,1.7,1.9,0.8,0.2
7/1/2013,1.7,1.4,1.8,1.1,1.8,2.1,1,0.1
8/1/2013,1.7,1.3,1.7,1,1.8,2.1,0.8,0.2
9/1/2013,1.7,1.2,1.8,0.8,2,2.3,0.5,-0.6
10/1/2013,1.8,1.1,0.9,0.6,1.9,2.4,0.1,-0.5
11/1/2013,1.8,1.1,1.2,0.9,1.8,2.1,0.3,-0.1
12/1/2013,1.7,1,1.2,0.5,1.9,2.4,0.1,-0.4
1/1/2014,1.7,0.9,0.4,0.4,1.8,2.4,0,-0.7
2/1/2014,1.6,0.6,0.4,0.3,1.3,2.1,-0.3,-1
3/1/2014,1.7,0.9,0.5,0.3,1.7,2.7,-0.1,-0.8
4/1/2014,1.8,1.3,0.2,0.7,2.1,2.8,0.5,-0.3
5/1/2014,1.8,1.5,0.1,0.9,2.2,2.9,0.9,1
6/1/2014,1.9,1.4,1.1,0.9,2.3,2.7,0.9,-1.5
7/1/2014,2,1.4,0.9,0.7,2.3,2.4,0.8,-0.9
8/1/2014,1.9,1.4,0.8,1.1,2.2,2.5,0.7,-0.6
9/1/2014,2,1.4,0.6,1.2,2.1,2.6,0.8,0.2
10/1/2014,2,1.5,1.1,1.2,2.2,2.7,0.8,0.4
11/1/2014,2,1.6,0.9,1.2,2.3,3,0.8,0.2
12/1/2014,2.2,1.7,0.9,1.5,2.3,2.9,1,0.4
1/1/2015,2.2,1.9,2.2,1.3,2.5,2.8,1.3,0.4
2/1/2015,2.3,2.2,2.2,1.5,3.1,3.2,1.5,0.5
3/1/2015,2.1,1.7,2,1.3,2.3,2.6,1.2,-0.1
4/1/2015,2.1,1.6,1.5,1.4,2,2.3,1.4,-0.4
5/1/2015,2.2,1.8,2.2,1.6,2.3,2.6,1.5,-1.7
6/1/2015,2.1,1.9,1.6,1.5,2.4,2.8,1.7,0.7
7/1/2015,2.1,2.2,2.2,1.7,2.4,3.1,2.2,-0.1
8/1/2015,2.1,2.2,2.2,1.5,2.4,3.1,2.4,-0.4
9/1/2015,1.9,2.1,1.8,1.4,2.5,2.9,2.5,-1
10/1/2015,2,2.3,2.2,1.6,2.5,3,2.8,-1.2
11/1/2015,1.9,2.2,2.3,1.5,2.4,2.7,2.8,-1.1
12/1/2015,1.9,2.3,2.6,1.6,2.5,2.8,2.8,-1
1/1/2016,1.9,1.9,1.9,1.6,2.4,2.6,2,-1.5
2/1/2016,1.8,1.9,2.1,1.3,2.3,2.7,2.1,-1.7
3/1/2016,1.9,2.3,2.2,1.7,2.7,2.7,2.5,-0.9
4/1/2016,1.9,2.2,2.5,1.5,2.9,2.9,2.1,-1.1
5/1/2016,1.7,1.8,2.2,1,2.4,2.6,1.6,-0.5
6/1/2016,1.7,1.6,2,0.9,2.4,2.4,1.5,-1.9
7/1/2016,1.8,1.6,1.6,1.1,2.4,2.6,1.2,-1.7
8/1/2016,1.8,1.5,1.4,1.2,2.3,2.4,1.1,-1.6
9/1/2016,1.9,1.6,1.5,1.5,2.4,2.5,1,-1.4
10/1/2016,1.7,1.3,1.2,1.1,2,1.8,0.8,-1.6
11/1/2016,1.7,1.4,1.2,1.2,2.1,2.1,0.8,-0.2
12/1/2016,1.6,1.2,1,1.1,1.9,2,0.7,-1.4
1/1/2017,1.7,1.4,1.3,1.3,1.7,2.3,1.2,-0.6
2/1/2017,1.7,1.5,0.9,1.6,1.8,2.2,1.3,-0.2
3/1/2017,1.6,1.5,1.2,1.3,1.8,2.4,1.1,-0.5
4/1/2017,1.6,1.2,1,1.1,1.5,1.9,1,-0.7
5/1/2017,1.7,1.3,0.9,1.2,1.6,2,1.2,-1.4
6/1/2017,1.7,1.5,1,1.4,1.8,2.2,1.2,0.2
7/1/2017,1.6,1.4,0.8,1.1,1.7,1.9,1.2,0.3
8/1/2017,1.6,1.3,0.9,0.9,1.8,1.7,1.1,0.2
9/1/2017,1.4,1.1,0.7,0.7,1.6,1.4,1.1,0.3
10/1/2017,1.4,1.4,1,1,1.8,2.2,1.1,0.6
11/1/2017,1.5,1.1,0.8,0.8,1.5,1.9,0.9,-1
12/1/2017,1.5,1.2,0.8,0.6,1.4,1.8,1.2,0.2
1/1/2018,1.4,1.5,1,0.7,1.9,2.7,1.4,0.5
2/1/2018,1.5,1.5,1.2,0.8,1.8,2.8,1.2,0.4
3/1/2018,1.6,1.6,1,1,1.9,2.6,1.3,0.4
4/1/2018,1.5,1.7,1.3,0.9,2,3.1,1.3,1
5/1/2018,1.6,1.8,1.3,1,2.1,3.1,1.4,1.3
6/1/2018,1.6,1.8,1.3,1,2,3.1,1.4,2
7/1/2018,1.5,1.7,1.2,1.1,1.9,2.7,1.5,2
8/1/2018,1.6,1.8,1.2,1.1,1.9,2.9,1.4,2.2
9/1/2018,1.6,1.4,1.2,0.9,1.4,2.7,1.2,2
10/1/2018,1.6,1.6,0.9,0.8,1.9,2.6,1.2,2
11/1/2018,1.5,1.7,0.9,1,2,2.7,1.5,1.7
12/1/2018,1.5,1.5,0.7,0.9,1.7,2.4,1.1,1.3
1/1/2019,1.7,1.6,0.5,1,2.4,1.7,1.3,0.9
2/1/2019,1.4,1.3,0.7,0.8,2.1,1.4,1.1,0.4
3/1/2019,1.4,1.3,0.7,0.8,2,1.5,1.2,0.3
4/1/2019,1.4,1.3,0.5,0.8,1.9,1.6,1.2,0.3
5/1/2019,1.3,1.2,0.4,0.7,1.8,1.6,1.1,-0.2
6/1/2019,1.2,1.2,0.5,0.9,1.7,1.5,1.1,-0.6
7/1/2019,1.2,1.1,0.6,0.3,1.8,1.7,1.1,-1
8/1/2019,1.2,1.1,0.5,0.3,1.8,1.8,1.1,-0.9
9/1/2019,1.3,1.4,0.6,0.4,2.4,2.2,1.1,-1.2
10/1/2019,1.3,1.2,0.5,0.6,1.7,1.6,1.3,-1.6
11/1/2019,1.4,1.1,0.6,0.5,1.8,1.4,1.2,-1.7
12/1/2019,1.3,1.2,0.7,0.6,1.9,1.5,1.3,-1.4
1/1/2020,1.3,1.1,1.4,0.3,1.5,1.2,1.2,-0.5
2/1/2020,1.5,1,1,0.4,1.5,1,1.2,-0.5
3/1/2020,0.4,0.3,0.4,-0.8,0.8,0.3,0.5,-1.3
4/1/2020,-13.4,-12,-9.4,-13.9,-11.1,-13.4,-10.8,-14.9
5/1/2020,-11.7,-10.8,-10,-13.1,-9.5,-10.6,-10.4,-14.1
6/1/2020,-8.7,-8.4,-9.9,-11.2,-6.6,-7.4,-8.7,-8.2
7/1/2020,-7.8,-7.3,-9.4,-8.6,-5.8,-7.3,-7.5,-8.5
8/1/2020,-6.8,-6.1,-8.4,-7.9,-4.7,-5.6,-5.8,-7.8
9/1/2020,-6.3,-5.4,-8.7,-7.1,-3.9,-5.2,-5,-7
10/1/2020,-5.9,-5,-9.2,-6.9,-3.1,-4.4,-5.1,-6.2
11/1/2020,-5.9,-4.8,-9.3,-6.9,-2.9,-4,-4.9,-5.7
12/1/2020,-6.1,-4.5,-9.7,-6.7,-2.3,-3.5,-4.7,-5.6
1/1/2021,-6,-4.5,-10.3,-6.1,-2.5,-3.3,-4.6,-6.4
2/1/2021,-5.8,-4.4,-10.4,-6.3,-2.3,-3,-4.6,-5.7
3/1/2021,-4.4,-3.3,-9.8,-4.7,-1.3,-2.3,-3.8,-4.1
4/1/2021,10.9,10.2,0.3,10.3,12.3,12.8,8.4,10.8
5/1/2021,9,9,1.4,9.4,10.7,9.3,8.1,9
6/1/2021,5.9,6.3,2.1,7.1,7.6,5.7,6.1,3.2
7/1/2021,5.4,5.8,2.1,5.2,7.2,6,5.3,4.4
8/1/2021,4.6,4.5,1.6,4.7,5.7,4.3,3.8,3.6
9/1/2021,4.2,3.7,2.4,3.7,4.6,3.9,2.9,2.7
10/1/2021,4.3,3.9,3.8,3.7,4.7,4,3.1,2.7
11/1/2021,4.5,3.9,4.3,3.9,4.7,3.7,3.1,2.9
12/1/2021,5.1,3.9,4.9,4.2,4.4,3.5,3.2,3.4
1/1/2022,5,3.6,4.9,3.3,4.2,3.6,2.9,3.6
2/1/2022,5.2,4.3,5.1,4.1,4.9,4.5,3.5,3.6
3/1/2022,4.9,3.9,5.4,3,4.8,4.2,3.2,2.7
4/1/2022,4.9,4,5.1,2.7,4.8,4.6,3.4,2.9
5/1/2022,4.8,3.9,5.1,2.6,4.6,4.5,3.2,3.8
6/1/2022,4.5,3.5,4,2,4.5,4.5,3,2
7/1/2022,4.4,3.5,4.1,2.3,4.2,4.5,3.1,1.3
8/1/2022,4.2,3.4,3.3,2,4.5,4.3,3,1.4
9/1/2022,4,3.7,2.8,2.2,4.8,4.7,3.5,1.7
10/1/2022,3.7,2.9,2,1.4,3.8,3.7,3,1.3
11/1/2022,3.4,2.7,1.9,1.2,3.6,3.4,2.7,1.8
12/1/2022,3.2,2.5,1.7,0.9,3.4,3.1,2.5,0.2
1/1/2023,3.3,2.8,1.6,1.5,3.8,3.4,2.9,0.5
2/1/2023,2.8,2.2,1.8,0.8,3,2.5,2.4,0.3
3/1/2023,2.6,2.2,1.6,1.3,2.7,2.8,2.4,0.2
4/1/2023,2.6,2.1,1.3,1.5,2.5,2.6,2.1,0.3

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