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We’re one of 12 regional Federal Reserve Banks working together with the Board of Governors to support a healthy economy. Our job is to serve the American public — to serve you. And our mission is to foster economic stability and strength.

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Economic Research
We conduct research to support policymaking and thought leadership on issues important to the Federal Reserve and the Fifth District. We also inform the public through our data and economic analysis, publications, presentations and educational resources.

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We help ensure our financial system is operating safely and effectively, and we help support secure and efficient methods to transfer your funds through our financial system.
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Community Development
We work with community partners to identify and address economic challenges and opportunities in low- and moderate-income communities in the Fifth District.

Featured

Speaking of the Economy - Deborah Markley

Podcast

Community Foundations: Problem Solving at the Local Level

Sept. 22, 2021

Deborah Markley discusses how community foundations support capacity building and development to improve the well being of rural communities.

Blog Post

State Budget Surpluses, the COVID-19 Impact, and ARPA Funds

Regional Matters

September 17, 2021

By Lucas Moyon and Laura Dawson Ullrich

Fifth District states have amassed budget surpluses over the past few years. Additionally, state and local governments received aid through the American Rescue Plan Act (ARPA). Now, states must decide how to spend both.

Publications

Race and Environmental Worries

Working Paper Series

September 2021, No. 21-15

Ranie Lin, Lala Ma and Toan Phan

Extreme Weather and the Macroeconomy

Working Paper Series

August 2021, No. 21-14

Hee Soo Kim, Christian Matthes and Toan Phan

Public Debt, Private Pain: Regional Borrowing, Default, and Migration

Working Paper Series

August 2021, No. 21-13

Grey Gordon and Pablo Guerrón-Quintana

Data & Analysis

Fifth District Unemployment Rates

September 20, 2021

For more information on the regional economy, see our latest report on the Fifth District and our economic indicator charts.

Month,United States,Fifth District,District of Columbia,Maryland,North Carolina,South Carolina,Virginia,West Virginia
2011-07-01,9, 8.6,10.5,7.4,10.3,10.6,6.6,7.8
2011-08-01,9, 8.6,10.4,7.4,10.4,10.5,6.6,7.8
2011-09-01,9, 8.5,10.3,7.3,10.3,10.3,6.6,7.7
2011-10-01,8.8, 8.4,10.1,7.2,10.2,10.1,6.5,7.5
2011-11-01,8.6, 8.3,9.9,7.1,10.1,9.9,6.4,7.4
2011-12-01,8.5, 8.2,9.8,7,9.9,9.7,6.3,7.2
2012-01-01,8.3, 8.0,9.6,6.9,9.7,9.6,6.2,7.1
2012-02-01,8.3, 7.9,9.5,6.9,9.6,9.5,6.2,7
2012-03-01,8.2, 7.9,9.3,6.9,9.5,9.4,6.1,7.1
2012-04-01,8.2, 7.9,9.2,6.9,9.5,9.4,6.1,7.2
2012-05-01,8.2, 7.9,9.1,6.9,9.5,9.3,6.1,7.3
2012-06-01,8.2, 7.9,9,6.9,9.5,9.2,6,7.4
2012-07-01,8.2, 7.8,8.8,6.9,9.5,9,5.9,7.4
2012-08-01,8.1, 7.7,8.7,6.9,9.5,8.8,5.9,7.4
2012-09-01,7.8, 7.7,8.6,6.8,9.5,8.7,5.8,7.4
2012-10-01,7.8, 7.6,8.6,6.8,9.5,8.6,5.7,7.3
2012-11-01,7.7, 7.6,8.6,6.8,9.5,8.5,5.7,7.3
2012-12-01,7.9, 7.6,8.7,6.8,9.4,8.4,5.7,7.2
2013-01-01,8, 7.6,8.7,6.8,9.4,8.4,5.6,7.1
2013-02-01,7.7, 7.4,8.7,6.8,9.1,8.3,5.6,6.9
2013-03-01,7.5, 7.3,8.7,6.7,8.8,8.1,5.6,6.8
2013-04-01,7.6, 7.2,8.6,6.7,8.5,7.9,5.6,6.7
2013-05-01,7.5, 7.0,8.5,6.6,8.2,7.7,5.6,6.6
2013-06-01,7.5, 6.9,8.5,6.6,7.8,7.5,5.6,6.6
2013-07-01,7.3, 6.8,8.5,6.5,7.5,7.4,5.6,6.6
2013-08-01,7.2, 6.6,8.4,6.5,7.3,7.2,5.6,6.6
2013-09-01,7.2, 6.4,8.3,6.4,6.7,7,5.5,6.6
2013-10-01,7.2, 6.3,8.2,6.3,6.6,6.8,5.5,6.7
2013-11-01,6.9, 6.2,8.1,6.2,6.5,6.5,5.4,6.7
2013-12-01,6.7, 6.1,8,6.1,6.4,6.3,5.4,6.7
2014-01-01,6.6, 6.1,7.9,6.1,6.4,6.1,5.3,6.7
2014-02-01,6.7, 6.0,7.9,6,6.3,6,5.3,6.7
2014-03-01,6.7, 6.0,7.8,5.9,6.3,6,5.3,6.7
2014-04-01,6.2, 5.9,7.8,5.9,6.3,6,5.3,6.6
2014-05-01,6.3, 5.9,7.8,5.8,6.2,6.1,5.2,6.5
2014-06-01,6.1, 5.9,7.8,5.8,6.2,6.2,5.2,6.5
2014-07-01,6.2, 5.9,7.7,5.7,6.1,6.3,5.1,6.4
2014-08-01,6.1, 5.8,7.7,5.6,6.1,6.5,5.1,6.4
2014-09-01,5.9, 5.8,7.6,5.6,6,6.5,5,6.4
2014-10-01,5.7, 5.7,7.6,5.5,5.9,6.6,4.9,6.4
2014-11-01,5.8, 5.7,7.5,5.5,5.8,6.5,4.9,6.3
2014-12-01,5.6, 5.6,7.4,5.4,5.7,6.5,4.8,6.4
2015-01-01,5.7, 5.6,7.4,5.4,5.7,6.4,4.8,6.4
2015-02-01,5.5, 5.5,7.3,5.3,5.7,6.4,4.7,6.5
2015-03-01,5.4, 5.5,7.2,5.3,5.8,6.3,4.7,6.7
2015-04-01,5.4, 5.5,7.2,5.2,5.8,6.2,4.6,6.8
2015-05-01,5.6, 5.4,7,5.1,5.8,6.1,4.5,6.8
2015-06-01,5.3, 5.4,6.9,5,5.8,6,4.4,6.8
2015-07-01,5.2, 5.3,6.8,4.9,5.7,5.8,4.3,6.7
2015-08-01,5.1, 5.2,6.8,4.9,5.7,5.7,4.2,6.6
2015-09-01,5, 5.1,6.7,4.8,5.6,5.6,4.1,6.5
2015-10-01,5, 5.0,6.6,4.7,5.5,5.5,4.1,6.4
2015-11-01,5.1, 5.0,6.6,4.7,5.4,5.4,4,6.4
2015-12-01,5, 4.9,6.5,4.6,5.4,5.4,4,6.4
2016-01-01,4.8, 4.9,6.4,4.5,5.3,5.3,4,6.4
2016-02-01,4.9, 4.8,6.3,4.4,5.2,5.3,3.9,6.3
2016-03-01,5, 4.7,6.2,4.3,5.2,5.2,3.9,6.3
2016-04-01,5.1, 4.7,6.1,4.3,5.1,5.1,3.9,6.2
2016-05-01,4.8, 4.7,6.1,4.3,5.1,5.1,3.9,6.2
2016-06-01,4.9, 4.7,6.1,4.3,5,5,4,6.2
2016-07-01,4.8, 4.7,6.2,4.2,5,4.9,4,6.1
2016-08-01,4.9, 4.7,6.2,4.2,5.1,4.8,4.1,6.1
2016-09-01,5, 4.7,6.3,4.3,5.1,4.7,4.1,6
2016-10-01,4.9, 4.7,6.3,4.3,5.1,4.6,4.1,5.9
2016-11-01,4.7, 4.6,6.3,4.2,5,4.5,4.1,5.8
2016-12-01,4.7, 4.6,6.3,4.2,5,4.5,4,5.6
2017-01-01,4.7, 4.5,6.3,4.2,4.9,4.4,4,5.4
2017-02-01,4.6, 4.4,6.2,4.1,4.8,4.3,3.9,5.3
2017-03-01,4.4, 4.3,6.2,4.1,4.7,4.2,3.9,5.1
2017-04-01,4.5, 4.3,6.2,4.1,4.6,4.2,3.8,5.1
2017-05-01,4.4, 4.2,6.2,4,4.5,4.1,3.8,5
2017-06-01,4.3, 4.2,6.2,4,4.5,4.1,3.7,5.1
2017-07-01,4.3, 4.2,6.2,4,4.5,4.2,3.6,5.1
2017-08-01,4.4, 4.2,6.1,4.1,4.4,4.2,3.6,5.2
2017-09-01,4.2, 4.2,6.1,4.1,4.4,4.2,3.5,5.3
2017-10-01,4.1, 4.1,6,4.1,4.4,4.2,3.5,5.3
2017-11-01,4.2, 4.1,6,4.1,4.4,4.2,3.4,5.4
2017-12-01,4.1, 4.1,5.9,4.1,4.3,4.1,3.3,5.4
2018-01-01,4, 4.0,5.9,4.1,4.3,3.9,3.2,5.4
2018-02-01,4.1, 3.9,5.8,4,4.2,3.7,3.1,5.4
2018-03-01,4, 3.8,5.8,4,4.1,3.5,3.1,5.4
2018-04-01,4, 3.8,5.8,3.9,4.1,3.3,3,5.4
2018-05-01,3.8, 3.7,5.7,3.9,4,3.3,3,5.3
2018-06-01,4, 3.6,5.6,3.8,4,3.3,2.9,5.2
2018-07-01,3.8, 3.6,5.6,3.8,3.9,3.3,2.9,5.1
2018-08-01,3.8, 3.6,5.5,3.7,3.9,3.3,2.8,5
2018-09-01,3.7, 3.6,5.6,3.7,3.9,3.3,2.8,5
2018-10-01,3.8, 3.6,5.6,3.7,3.9,3.3,2.8,5
2018-11-01,3.8, 3.6,5.7,3.7,4,3.3,2.9,5.1
2018-12-01,3.9, 3.6,5.8,3.7,4,3.2,2.9,5.1
2019-01-01,4, 3.6,5.8,3.7,4,3.2,2.9,5
2019-02-01,3.8, 3.6,5.8,3.6,4,3.2,2.9,5
2019-03-01,3.8, 3.5,5.7,3.6,4,3.2,2.8,4.9
2019-04-01,3.7, 3.5,5.6,3.5,3.9,3.1,2.8,4.8
2019-05-01,3.7, 3.4,5.4,3.5,3.9,2.9,2.7,4.8
2019-06-01,3.6, 3.4,5.3,3.5,3.8,2.7,2.6,4.8
2019-07-01,3.6, 3.3,5.2,3.5,3.8,2.6,2.6,4.9
2019-08-01,3.7, 3.3,5.2,3.5,3.7,2.4,2.6,4.9
2019-09-01,3.5, 3.2,5.1,3.4,3.7,2.4,2.6,5
2019-10-01,3.6, 3.2,5,3.4,3.6,2.4,2.5,4.9
2019-11-01,3.6, 3.1,4.9,3.3,3.5,2.4,2.5,4.9
2019-12-01,3.6, 3.1,4.9,3.3,3.5,2.5,2.5,4.9
2020-01-01,3.5, 3.2,4.9,3.4,3.5,2.6,2.5,5
2020-02-01,3.5, 3.3,5,3.5,3.6,2.8,2.5,5.1
2020-03-01,4.4, 3.4,5.2,3.5,3.9,3,2.6,5.3
2020-04-01,14.8,11.7,11.1,9,13.5,11.5,11.3,15.6
2020-05-01,13.3,10.7,8.9,9,13.5,11.5,8.5,11.9
2020-06-01,11.1, 8.7,8.9,8.6,8.8,7.7,8.8,10.5
2020-07-01,10.2, 8.4,8.9,8.7,8.8,7.6,7.9,9.4
2020-08-01,8.4, 7.1,8.8,8.6,6.8,5.4,7,8.5
2020-09-01,7.8, 6.8,8.7,7,7.3,5.4,6.6,7.9
2020-10-01,6.9, 6.5,8.8,6.8,6.8,5.4,6.1,7.4
2020-11-01,6.7, 6.3,8.8,6.8,6.4,5.6,5.8,7
2020-12-01,6.7, 6.1,8.8,6.8,6.1,5.6,5.6,6.7
2021-01-01,6.3, 5.9,8.4,6.4,5.9,5.3,5.3,6.5
2021-02-01,6.2, 5.7,8.1,6.2,5.7,5.2,5.2,6.2
2021-03-01,6, 5.4,7.7,6.2,5.2,5.1,5.1,5.9
2021-04-01,6.1, 5.3,7.5,6.2,5,5,4.7,5.8
2021-05-01,5.8, 5.0,7.2,6.1,4.8,4.6,4.5,5.5
2021-06-01,5.9, 4.9,7,6.2,4.6,4.5,4.3,5.3
2021-07-01,5.4, 4.7,6.7,6,4.4,4.3,4.2,5

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