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

Public Transit Rides Out the Pandemic Storm

Econ Focus

First Quarter 2023

Tim Sablik

Regional Economy

Fifth District Firms Report Cautious Optimism Going Into 2023

Regional Matters

March 09, 2023

Jason Kosakow

Data & Analysis

Regional Economic Snapshot

March 22, 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
2013-01-01,  1.5,  1.3,  1.3,  1.1,  1.7,  1.7,  1.1, -0.3
2013-02-01,  1.5,  1.3,  1.4,  1.1,  1.8,  1.6,  1.1, -0.4
2013-03-01,  1.5,  1.2,  1.2,  0.9,  1.7,  1.4,  1.0, -0.6
2013-04-01,  1.5,  1.3,  2.1,  1.0,  1.7,  1.7,  0.9, -0.6
2013-05-01,  1.6,  1.1,  1.4,  1.1,  1.5,  1.8,  0.9, -1.7
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,  0.1
2013-08-01,  1.7,  1.3,  1.7,  1.0,  1.8,  2.1,  0.8,  0.2
2013-09-01,  1.7,  1.2,  1.8,  0.8,  2.0,  2.3,  0.5, -0.6
2013-10-01,  1.8,  1.1,  0.9,  0.6,  1.9,  2.4,  0.1, -0.5
2013-11-01,  1.8,  1.1,  1.2,  0.9,  1.8,  2.1,  0.3, -0.1
2013-12-01,  1.7,  1.0,  1.2,  0.5,  1.9,  2.4,  0.1, -0.4
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, -0.1, -0.8
2014-04-01,  1.8,  1.3,  0.2,  0.7,  2.1,  2.8,  0.5, -0.3
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, -0.9
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,  0.2
2014-10-01,  2.0,  1.5,  1.1,  1.2,  2.2,  2.7,  0.8,  0.4
2014-11-01,  2.0,  1.6,  0.9,  1.2,  2.3,  3.0,  0.8,  0.2
2014-12-01,  2.2,  1.7,  0.9,  1.5,  2.3,  2.9,  1.0,  0.4
2015-01-01,  2.2,  1.9,  2.2,  1.3,  2.5,  2.8,  1.3,  0.4
2015-02-01,  2.3,  2.2,  2.2,  1.5,  3.1,  3.2,  1.5,  0.5
2015-03-01,  2.1,  1.7,  2.0,  1.3,  2.3,  2.6,  1.2, -0.1
2015-04-01,  2.1,  1.6,  1.5,  1.4,  2.0,  2.3,  1.4, -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, -1.0
2016-01-01,  1.9,  1.9,  1.9,  1.6,  2.4,  2.6,  2.0, -1.5
2016-02-01,  1.8,  1.9,  2.1,  1.3,  2.3,  2.7,  2.1, -1.7
2016-03-01,  1.9,  2.3,  2.2,  1.7,  2.7,  2.7,  2.5, -0.9
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, -1.6
2016-11-01,  1.7,  1.4,  1.2,  1.2,  2.1,  2.1,  0.8, -0.2
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, -0.6
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,  1.2,  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,  1.1,  0.2
2017-09-01,  1.4,  1.1,  0.7,  0.7,  1.6,  1.4,  1.1,  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, -1.0
2017-12-01,  1.5,  1.2,  0.8,  0.6,  1.4,  1.8,  1.2,  0.2
2018-01-01,  1.4,  1.5,  1.0,  0.7,  1.9,  2.7,  1.4,  0.5
2018-02-01,  1.5,  1.5,  1.2,  0.8,  1.8,  2.8,  1.2,  0.4
2018-03-01,  1.6,  1.6,  1.0,  1.0,  1.9,  2.6,  1.3,  0.4
2018-04-01,  1.5,  1.7,  1.3,  0.9,  2.0,  3.1,  1.3,  1.0
2018-05-01,  1.6,  1.8,  1.3,  1.0,  2.1,  3.1,  1.4,  1.3
2018-06-01,  1.6,  1.8,  1.3,  1.0,  2.0,  3.1,  1.4,  2.0
2018-07-01,  1.5,  1.7,  1.2,  1.1,  1.9,  2.7,  1.5,  2.0
2018-08-01,  1.6,  1.7,  1.2,  1.1,  1.9,  2.9,  1.4,  2.2
2018-09-01,  1.6,  1.4,  1.2,  0.9,  1.4,  2.7,  1.2,  2.0
2018-10-01,  1.6,  1.6,  0.9,  0.8,  1.9,  2.6,  1.2,  2.0
2018-11-01,  1.5,  1.7,  0.9,  1.0,  2.0,  2.7,  1.5,  1.7
2018-12-01,  1.5,  1.4,  0.7,  0.9,  1.7,  2.4,  1.1,  1.3
2019-01-01,  1.7,  1.6,  0.5,  1.0,  2.4,  1.7,  1.3,  0.9
2019-02-01,  1.4,  1.3,  0.7,  0.8,  2.1,  1.4,  1.1,  0.4
2019-03-01,  1.4,  1.3,  0.7,  0.8,  2.0,  1.5,  1.2,  0.3
2019-04-01,  1.4,  1.3,  0.5,  0.8,  1.9,  1.6,  1.2,  0.3
2019-05-01,  1.3,  1.2,  0.4,  0.7,  1.8,  1.6,  1.1, -0.2
2019-06-01,  1.2,  1.2,  0.5,  0.9,  1.7,  1.5,  1.1, -0.6
2019-07-01,  1.2,  1.1,  0.6,  0.3,  1.8,  1.7,  1.1, -1.0
2019-08-01,  1.2,  1.1,  0.5,  0.3,  1.8,  1.8,  1.1, -0.9
2019-09-01,  1.3,  1.4,  0.6,  0.4,  2.4,  2.2,  1.1, -1.2
2019-10-01,  1.3,  1.2,  0.5,  0.6,  1.7,  1.6,  1.3, -1.6
2019-11-01,  1.4,  1.1,  0.6,  0.5,  1.8,  1.4,  1.2, -1.7
2019-12-01,  1.3,  1.2,  0.7,  0.6,  1.9,  1.5,  1.3, -1.4
2020-01-01,  1.3,  1.1,  1.4,  0.3,  1.5,  1.2,  1.2, -0.5
2020-02-01,  1.5,  1.0,  1.0,  0.4,  1.5,  1.0,  1.2, -0.5
2020-03-01,  0.4,  0.2,  0.4, -0.8,  0.8,  0.3,  0.5, -1.3
2020-04-01,-13.4,-12.0, -9.4,-13.9,-11.1,-13.4,-10.8,-14.9
2020-05-01,-11.7,-10.8,-10.0,-13.1, -9.5,-10.6,-10.4,-14.1
2020-06-01, -8.7, -8.4, -9.9,-11.2, -6.6, -7.4, -8.7, -8.2
2020-07-01, -7.8, -7.3, -9.4, -8.6, -5.8, -7.3, -7.5, -8.5
2020-08-01, -6.8, -6.1, -8.4, -7.9, -4.7, -5.6, -5.8, -7.8
2020-09-01, -6.3, -5.4, -8.7, -7.1, -3.9, -5.2, -5.0, -7.0
2020-10-01, -5.9, -5.0, -9.2, -6.9, -3.1, -4.4, -5.1, -6.2
2020-11-01, -5.9, -4.8, -9.3, -6.9, -2.9, -4.0, -4.9, -5.7
2020-12-01, -6.1, -4.5, -9.7, -6.7, -2.3, -3.5, -4.7, -5.6
2021-01-01, -6.0, -4.5,-10.3, -6.1, -2.5, -3.3, -4.6, -6.4
2021-02-01, -5.8, -4.4,-10.4, -6.3, -2.3, -3.0, -4.6, -5.7
2021-03-01, -4.4, -3.3, -9.8, -4.7, -1.3, -2.3, -3.8, -4.1
2021-04-01, 10.9, 10.2,  0.3, 10.3, 12.3, 12.8,  8.4, 10.8
2021-05-01,  9.0,  9.0,  1.4,  9.4, 10.7,  9.3,  8.1,  9.0
2021-06-01,  5.9,  6.3,  2.1,  7.1,  7.6,  5.7,  6.1,  3.2
2021-07-01,  5.4,  5.8,  2.1,  5.2,  7.2,  6.0,  5.3,  4.4
2021-08-01,  4.6,  4.5,  1.6,  4.7,  5.7,  4.3,  3.8,  3.6
2021-09-01,  4.2,  3.7,  2.4,  3.7,  4.6,  3.9,  2.9,  2.7
2021-10-01,  4.3,  3.9,  3.8,  3.7,  4.7,  4.0,  3.1,  2.7
2021-11-01,  4.5,  3.9,  4.3,  3.9,  4.7,  3.7,  3.1,  2.9
2021-12-01,  5.1,  3.9,  4.9,  4.2,  4.4,  3.5,  3.2,  3.4
2022-01-01,  5.0,  3.6,  4.9,  3.3,  4.2,  3.6,  2.9,  3.6
2022-02-01,  5.2,  4.3,  5.1,  4.1,  4.9,  4.5,  3.5,  3.6
2022-03-01,  4.9,  3.9,  5.4,  3.0,  4.8,  4.2,  3.2,  2.7
2022-04-01,  4.9,  4.0,  5.1,  2.7,  4.8,  4.6,  3.4,  2.9
2022-05-01,  4.8,  3.8,  5.1,  2.6,  4.6,  4.5,  3.2,  3.8
2022-06-01,  4.5,  3.5,  4.0,  2.0,  4.5,  4.5,  3.0,  2.0
2022-07-01,  4.4,  3.5,  4.1,  2.3,  4.2,  4.5,  3.1,  1.3
2022-08-01,  4.2,  3.4,  3.3,  2.0,  4.5,  4.3,  3.0,  1.4
2022-09-01,  4.0,  3.7,  2.8,  2.2,  4.8,  4.7,  3.5,  1.7
2022-10-01,  3.7,  2.9,  2.0,  1.4,  3.8,  3.7,  3.0,  1.3
2022-11-01,  3.4,  2.7,  1.9,  1.2,  3.6,  3.4,  2.7,  1.8
2022-12-01,  3.2,  2.5,  1.7,  0.9,  3.4,  3.1,  2.5,  0.2
2023-01-01,  3.3,  2.8,  1.8,  1.5,  3.6,  3.3,  3.0,  0.5

Careers at the Fed

Life at the Richmond Fed

While our work is serious, our workplace is more casual—from the way we dress to the activities we share. It’s a friendly, inclusive place to be.

You'll Love Our Benefits

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.

FOMC Raises One-Quarter Point

Rural Conference to Highlight Partnering for Success

Community Conversations Explores the Future of Real Estate in Northern Virginia