Research

Featured

Group of economists standing in circle and talking.

Article

Networks, Innovation and Productivity: A Conference Recap

May 2023, No. 23-17

Researchers covered topics including digital advertising, R&D allocation, production networks, and knowledge creation and diffusion.

Publication

New Issue of Econ Focus

Econ Focus

Second Quarter 2023

The latest issue of the Richmond Fed's economics magazine looks at shrinking office demand, Virginia's data center industry, AI and bank supervision, and other issues impacting regional and national economic conditions.

Publications

Unemployment Insurance when the Wealth Distribution Matters

Working Paper Series

May 2023, No. 23-08

Facundo Piguillem, Hernán Ruffo and Nicholas Trachter

This paper evaluates the welfare effects of unemployment insurance in general equilibrium using a life-cycle model.

The Economic Impact of a Casino Monopoly: Evidence from Atlantic City

Working Paper Series

May 2023, No. 23-07

Adam Scavette

New Jersey voters approved legalized gambling for Atlantic City in a 1976 referendum. The state explicitly leveraged the city's regional monopoly on casinos east of the Mississippi River as an economic development strategy to revive the blighted seaside resort town.

Climate Defaults and Financial Adaptation

Working Paper Series

March 2023, No. 23-06

Toan Phan and Felipe F. Schwartzman

We analyze the relationship between climate-related disasters and sovereign debt crises using a model with capital accumulation, sovereign default, and disaster risk.

Data & Analysis

Fifth District Unemployment Rates

May 31, 2023

Learn more about labor and housing markets in the Fifth District, including state unemployment rates.

Month,United States,Fifth District,District of Columbia,Maryland,North Carolina,South Carolina,Virginia,West Virginia
3/1/2013,7.5,7.3,8.7,6.7,8.8,8.1,5.6,6.8
4/1/2013,7.6,7.2,8.6,6.7,8.5,7.9,5.6,6.7
5/1/2013,7.5,7,8.5,6.6,8.2,7.7,5.6,6.6
6/1/2013,7.5,6.9,8.5,6.6,7.8,7.5,5.6,6.6
7/1/2013,7.3,6.8,8.5,6.5,7.5,7.4,5.6,6.6
8/1/2013,7.2,6.6,8.4,6.5,7.3,7.2,5.6,6.6
9/1/2013,7.2,6.4,8.3,6.4,6.7,7,5.5,6.6
10/1/2013,7.2,6.3,8.2,6.3,6.6,6.8,5.5,6.7
11/1/2013,6.9,6.2,8.1,6.2,6.5,6.5,5.4,6.7
12/1/2013,6.7,6.1,8,6.1,6.4,6.3,5.4,6.7
1/1/2014,6.6,6.1,7.9,6.1,6.4,6.1,5.3,6.7
2/1/2014,6.7,6,7.9,6,6.3,6,5.3,6.7
3/1/2014,6.7,6,7.8,5.9,6.3,6,5.3,6.7
4/1/2014,6.2,5.9,7.8,5.9,6.3,6,5.3,6.6
5/1/2014,6.3,5.9,7.8,5.8,6.2,6.1,5.2,6.5
6/1/2014,6.1,5.9,7.8,5.8,6.2,6.2,5.2,6.5
7/1/2014,6.2,5.9,7.7,5.7,6.1,6.3,5.1,6.4
8/1/2014,6.1,5.8,7.7,5.6,6.1,6.5,5.1,6.4
9/1/2014,5.9,5.8,7.6,5.6,6,6.5,5,6.4
10/1/2014,5.7,5.7,7.6,5.5,5.9,6.6,4.9,6.4
11/1/2014,5.8,5.7,7.5,5.5,5.8,6.5,4.9,6.3
12/1/2014,5.6,5.6,7.4,5.4,5.7,6.5,4.8,6.4
1/1/2015,5.7,5.6,7.4,5.4,5.7,6.4,4.8,6.4
2/1/2015,5.5,5.5,7.3,5.3,5.7,6.4,4.7,6.5
3/1/2015,5.4,5.5,7.2,5.3,5.8,6.3,4.7,6.7
4/1/2015,5.4,5.5,7.2,5.2,5.8,6.2,4.6,6.8
5/1/2015,5.6,5.4,7,5.1,5.8,6.1,4.5,6.8
6/1/2015,5.3,5.4,6.9,5,5.8,6,4.4,6.8
7/1/2015,5.2,5.3,6.8,4.9,5.7,5.8,4.3,6.7
8/1/2015,5.1,5.2,6.8,4.9,5.7,5.7,4.2,6.6
9/1/2015,5,5.1,6.7,4.8,5.6,5.6,4.1,6.5
10/1/2015,5,5,6.6,4.7,5.5,5.5,4.1,6.4
11/1/2015,5.1,5,6.6,4.7,5.4,5.4,4,6.4
12/1/2015,5,4.9,6.5,4.6,5.4,5.4,4,6.4
1/1/2016,4.8,4.9,6.4,4.5,5.3,5.3,4,6.4
2/1/2016,4.9,4.8,6.3,4.4,5.2,5.3,3.9,6.3
3/1/2016,5,4.7,6.2,4.3,5.2,5.2,3.9,6.3
4/1/2016,5.1,4.7,6.1,4.3,5.1,5.1,3.9,6.2
5/1/2016,4.8,4.7,6.1,4.3,5.1,5.1,3.9,6.2
6/1/2016,4.9,4.7,6.1,4.3,5,5,4,6.2
7/1/2016,4.8,4.7,6.2,4.2,5,4.9,4,6.1
8/1/2016,4.9,4.7,6.2,4.2,5.1,4.8,4.1,6.1
9/1/2016,5,4.7,6.3,4.3,5.1,4.7,4.1,6
10/1/2016,4.9,4.7,6.3,4.3,5.1,4.6,4.1,5.9
11/1/2016,4.7,4.6,6.3,4.2,5,4.5,4.1,5.8
12/1/2016,4.7,4.6,6.3,4.2,5,4.5,4,5.6
1/1/2017,4.7,4.5,6.3,4.1,4.9,4.4,4,5.4
2/1/2017,4.6,4.4,6.2,4,4.7,4.3,4,5.2
3/1/2017,4.4,4.3,6.2,4,4.6,4.2,3.9,5.1
4/1/2017,4.4,4.2,6.2,3.9,4.5,4.2,3.8,5
5/1/2017,4.4,4.2,6.2,3.9,4.5,4.1,3.7,5
6/1/2017,4.3,4.2,6.1,3.9,4.5,4.1,3.7,5.1
7/1/2017,4.3,4.2,6.1,4,4.5,4.2,3.6,5.1
8/1/2017,4.4,4.2,6.1,4,4.5,4.2,3.5,5.2
9/1/2017,4.3,4.2,6,4,4.5,4.2,3.5,5.3
10/1/2017,4.2,4.1,6,4.1,4.4,4.2,3.5,5.3
11/1/2017,4.2,4.1,5.9,4.1,4.4,4.2,3.4,5.4
12/1/2017,4.1,4.1,5.9,4,4.3,4.1,3.4,5.4
1/1/2018,4,4,5.9,4.1,4.2,3.9,3.4,5.4
2/1/2018,4.1,3.9,5.8,4,4.1,3.7,3.3,5.4
3/1/2018,4,3.8,5.8,4,4,3.5,3.2,5.3
4/1/2018,4,3.7,5.8,3.9,4,3.3,3.1,5.3
5/1/2018,3.8,3.7,5.7,3.8,3.9,3.2,2.9,5.2
6/1/2018,4,3.6,5.6,3.8,3.9,3.2,2.8,5.1
7/1/2018,3.8,3.6,5.5,3.7,3.9,3.3,2.8,5.1
8/1/2018,3.8,3.6,5.5,3.7,3.9,3.3,2.8,5
9/1/2018,3.7,3.6,5.5,3.7,4,3.3,2.8,5
10/1/2018,3.8,3.6,5.6,3.7,4,3.3,2.9,5
11/1/2018,3.8,3.7,5.7,3.7,4,3.3,3,5.1
12/1/2018,3.9,3.7,5.8,3.7,4,3.2,3.1,5.1
1/1/2019,4,3.7,5.9,3.6,4,3.2,3.1,5
2/1/2019,3.8,3.6,5.9,3.5,3.9,3.2,3.1,4.9
3/1/2019,3.8,3.5,5.8,3.5,3.9,3.1,3,4.8
4/1/2019,3.6,3.4,5.7,3.4,3.8,3.1,2.8,4.8
5/1/2019,3.7,3.4,5.5,3.4,3.8,2.9,2.7,4.7
6/1/2019,3.6,3.3,5.4,3.4,3.8,2.7,2.5,4.8
7/1/2019,3.7,3.3,5.3,3.4,3.9,2.6,2.5,4.8
8/1/2019,3.7,3.3,5.3,3.4,3.9,2.5,2.5,5
9/1/2019,3.5,3.3,5.2,3.3,3.9,2.4,2.6,5
10/1/2019,3.6,3.3,5.2,3.3,3.9,2.5,2.7,5.1
11/1/2019,3.6,3.3,5.2,3.2,3.8,2.5,2.8,5.1
12/1/2019,3.6,3.4,5.3,3.3,3.8,2.7,2.8,5.2
1/1/2020,3.5,3.4,5.5,3.4,3.8,2.8,2.8,5.2
2/1/2020,3.5,3.5,5.7,3.5,3.8,2.9,2.9,5.3
3/1/2020,4.4,3.6,5.7,3.5,4,3.1,3.2,5.3
4/1/2020,14.7,12.1,11.2,9,14.2,11.7,12,15.7
5/1/2020,13.2,10.2,8.8,8.8,11.6,9.2,10,12.4
6/1/2020,11,8.9,8.6,8.1,9.7,7.8,8.9,10.5
7/1/2020,10.2,8.2,8.6,7.8,8.6,7.1,8.2,9.4
8/1/2020,8.4,7.2,8.4,7.1,7.3,6.2,7.3,8.2
9/1/2020,7.9,6.7,8.4,7,6.7,5.8,6.6,7.6
10/1/2020,6.9,6.1,8.1,6.7,6,5.3,5.8,6.9
11/1/2020,6.7,5.8,7.9,6.6,5.8,5,5.3,6.5
12/1/2020,6.7,5.7,7.7,6.7,5.8,4.9,5.1,6.3
1/1/2021,6.3,5.5,7.3,6.4,5.6,4.6,4.8,6
2/1/2021,6.2,5.3,7.1,6.2,5.5,4.4,4.7,5.9
3/1/2021,6.1,5.2,7,6,5.4,4.3,4.6,5.8
4/1/2021,6.1,5,7,5.9,5.2,4.2,4.4,5.6
5/1/2021,5.8,4.9,7.1,5.7,5.1,4.1,4.2,5.5
6/1/2021,5.9,4.8,7.2,5.7,5,4.1,4,5.3
7/1/2021,5.4,4.6,7,5.5,4.9,4,3.7,5.1
8/1/2021,5.2,4.5,6.9,5.3,4.8,3.9,3.5,4.9
9/1/2021,4.8,4.2,6.6,4.8,4.6,3.7,3.4,4.6
10/1/2021,4.5,4,6.4,4.5,4.4,3.6,3.2,4.4
11/1/2021,4.2,3.8,6.3,4.1,4.1,3.5,3.1,4.2
12/1/2021,3.9,3.6,6.1,3.7,3.9,3.4,3,4
1/1/2022,4,3.5,6,3.7,3.6,3.3,2.9,3.8
2/1/2022,3.8,3.3,5.6,3.4,3.4,3.3,2.9,3.7
3/1/2022,3.6,3.2,5.2,3.2,3.3,3.2,2.8,3.6
4/1/2022,3.6,3.1,4.9,3.1,3.3,3.2,2.6,3.7
5/1/2022,3.6,3.1,4.6,3.1,3.4,3.2,2.5,3.8
6/1/2022,3.6,3.2,4.4,3.2,3.6,3.2,2.5,3.9
7/1/2022,3.5,3.3,4.1,3.2,3.7,3.2,2.6,4
8/1/2022,3.7,3.4,3.9,3.4,3.9,3.3,2.8,4.1
9/1/2022,3.5,3.5,4.1,3.2,3.9,3.3,3,4.1
10/1/2022,3.7,3.5,4.2,3.2,3.9,3.3,3.1,4.1
11/1/2022,3.6,3.5,4.2,3.1,3.9,3.3,3.2,4.1
12/1/2022,3.5,3.4,4.2,3,3.8,3.3,3.1,4.1
1/1/2023,3.4,3.4,4.5,3,3.8,3.2,3.2,3.9
2/1/2023,3.6,3.4,4.7,2.9,3.6,3.2,3.2,3.7
3/1/2023,3.5,3.3,4.8,2.7,3.5,3.2,3.2,3.4
4/1/2023,3.4,3.1,5,2.5,3.4,3.1,3.1,3.3