Research - Federal Reserve Bank of Richmond

Featured

Publication

Econ Focus Magazine Looks at Energy Booms and Workers’ Education Choices

Fourth Quarter 2018

The latest issue of the Richmond Fed's economics magazine discusses the sometimes difficult choices confronting workers in an energy boom. Other stories look at CEO compensation, asset bubbles, the history of auto manufacturing in the Fifth District, and other topics.

Publication

Fifth District Payroll Revisions

Regional Matters

April 18, 2019

By Akbar Naqvi

Recently revised payroll employment data for 2018 showed that fewer jobs were added in the Fifth District than originally reported. The largest downward revisions occurred with data for North Carolina, West Virginia, and Virginia.

Publications

Assessing Macroeconomic Tail Risk

Working Paper Series

April 2019, No. 19-10

Francesca Loria, Christian Matthes and Donghai Zhang

What Do Sectoral Dynamics Tell Us About the Origins of Business Cycles?

Working Paper Series

March 2019, No. 19-09

Christian Matthes and Felipe F. Schwartzman

Aggregate Labor Force Participation and Unemployment and Demographic Trends

Working Paper Series

March 2019, No. 19-08

Andreas Hornstein and Marianna Kudlyak

Data & Analysis

Employment Growth in the Fifth District

April 18, 2019

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
2009-02-01,-3.620066503,-3.397780165,0.744665616,-2.698370291,-4.667321561,-5.503506886,-2.553472406,-1.365001365
2009-03-01,-4.167269256,-3.869404029,-0.071367399,-2.925318343,-5.362798733,-5.986457371,-2.968543484,-1.384320175
2009-04-01,-4.506142435,-4.315059644,-0.968937019,-3.270920902,-5.752382786,-6.193050193,-3.575011882,-1.933891099
2009-05-01,-4.628205872,-4.311644672,-0.895649701,-3.040398239,-5.768210963,-6.415735544,-3.34725821,-3.285559762
2009-06-01,-4.850914267,-4.294924377,-0.907801418,-2.856484681,-5.991695635,-6.536116565,-3.425019836,-1.631477927
2009-07-01,-4.961893126,-4.456322849,-0.564095332,-3.308513088,-6.13266886,-6.055876385,-3.696060534,-2.570061517
2009-08-01,-4.902753791,-4.439796618,-1.093049327,-3.247501922,-6.112161311,-6.033583646,-3.644164305,-2.437688305
2009-09-01,-4.759850551,-4.534387215,-1.46851172,-3.190751445,-6.060753106,-6.322048928,-3.739285051,-3.078396497
2009-10-01,-4.569000939,-4.245669794,-0.255536627,-2.955265394,-5.893419992,-5.818467996,-3.501676334,-3.159190372
2009-11-01,-4.048361992,-3.833260458,0.0853121,-2.683314591,-5.371007371,-5.371464753,-3.087359453,-2.930302615
2009-12-01,-3.746931935,-3.55527583,0.270462633,-2.532187172,-5.056665268,-4.941288986,-2.878893476,-2.39010989
2010-01-01,-3.182570819,-2.789441448,0.056721497,-1.994914923,-3.916618761,-3.598128328,-2.367454918,-2.221302428
2010-02-01,-2.712777128,-2.799006708,-0.284292822,-2.992861065,-3.531126693,-2.800953516,-2.511990895,-1.992803764
2010-03-01,-1.987489531,-1.617968476,0.914155121,-1.197510439,-2.434015365,-2.007966388,-1.471109053,-0.84781098
2010-04-01,-1.291766223,-0.588835381,2.417266187,-0.331832188,-1.465856275,-0.834156514,-0.353231106,-0.195804196
2010-05-01,-0.627419367,0.020259775,2.40998422,-0.047391493,-0.792980841,0.121045392,0.11489222,1.635677338
2010-06-01,-0.378550822,0.081949342,2.447752648,0.059283851,-0.549535206,0.292995743,0.183486239,0.236933798
2010-07-01,-0.185943299,0.435805411,1.900439654,0.357256272,-0.211334759,0.714404386,0.634615385,1.066367335
2010-08-01,-0.04904177,0.413588027,0.410881269,0.425024826,-0.028394424,0.926799489,0.522221917,0.926445817
2010-09-01,0.087517945,0.618316393,2.393235884,0.593105644,-0.080066119,1.03569241,0.714049404,1.228119706
2010-10-01,0.446713465,1.079114883,1.964133219,0.895664981,0.911333247,1.32026071,0.987150499,1.624064398
2010-11-01,0.532008949,1.066989997,1.775820429,0.900506037,0.950303786,1.299208208,0.975555984,1.467061645
2010-12-01,0.797356014,1.272536879,1.817149347,1.189240961,1.126049983,1.83891342,1.142636344,1.055446102
2011-01-01,0.810433952,1.320114476,2.310090703,1.221313111,0.988502159,1.26645838,1.623026516,1.072386059
2011-02-01,1.046139614,2.094883664,2.96507484,2.697019934,1.628282618,1.610835516,2.34600845,1.60971477
2011-03-01,1.084722276,1.627896397,2.392073602,1.431305319,1.476053117,1.676039869,1.891226809,0.925147183
2011-04-01,1.147296591,1.290283636,1.966844619,0.864050733,1.360667634,1.444382955,1.299771922,1.303251121
2011-05-01,0.806636769,0.657934222,1.386748844,0.470188471,0.861202073,0.725394296,0.631182032,-0.522696011
2011-06-01,1.091703057,0.827085743,1.425178147,0.477939724,1.146457344,1.047293573,0.639658849,0.139043382
2011-07-01,1.206666564,1.01872288,1.419624217,1.056087335,1.265528552,1.000769823,0.788949251,0.374843815
2011-08-01,1.304077831,1.093598503,2.59630309,0.767344356,1.342663121,1.033762235,0.861291116,0.751043115
2011-09-01,1.534826996,1.485520873,2.323303009,1.00906177,1.563832812,1.295122623,1.628753661,1.659461721
2011-10-01,1.481912402,1.10508007,1.549413735,0.875877851,1.011166572,1.033648559,1.23416339,1.500833797
2011-11-01,1.487401063,1.186941395,1.39586823,0.860877463,1.152263374,1.183464524,1.299091182,1.751703045
2011-12-01,1.585918572,1.260293269,1.533742331,0.98990377,1.285809803,1.086717892,1.260710582,2.242027573
2012-01-01,1.841676919,1.625084289,0.983515722,1.293324396,1.921590851,1.999889813,1.297817925,2.568756108
2012-02-01,1.876068115,1.419223759,0.91374775,1.208756595,1.522725525,1.689522765,1.252036936,2.279043913
2012-03-01,1.877322854,1.535419853,0.995299972,1.324633466,1.710671208,1.774370208,1.313397194,2.402777778
2012-04-01,1.691927825,1.294705711,0.385781207,1.084564602,1.615996318,1.391086138,1.114908854,1.881311385
2012-05-01,1.693744306,1.469744285,1.2019895,1.112946358,1.825293351,1.423972939,1.105107388,3.042035398
2012-06-01,1.56720094,1.312034809,0.633696101,1.238304898,1.411722659,1.674667249,1.195132551,1.388503194
2012-07-01,1.636165313,1.034459695,0.123507616,0.845434264,1.451197429,1.43728223,0.712351029,0.982019364
2012-08-01,1.670980339,1.287713194,0.605143722,1.15402732,1.615327779,1.610972026,1.125027109,0.676421866
2012-09-01,1.632495807,1.265888457,0.547120777,1.253623756,1.717906953,1.670293798,0.856542585,0.658436214
2012-10-01,1.595287303,1.529015705,1.484536082,1.185075094,2.009730253,1.872006966,1.318912504,0.397042716
2012-11-01,1.613292141,1.547969263,1.638215859,1.229395873,2.06214402,2.17604178,1.239324299,-0.204946031
2012-12-01,1.635644101,1.525791199,1.469376545,1.206701293,2.015944752,2.074057987,1.331249326,-0.326886407
2013-01-01,1.511229168,1.305671673,1.289437586,1.132780568,1.726142337,1.66360592,1.101232844,-0.204164965
2013-02-01,1.520995125,1.319084374,1.399368912,1.100953122,1.795318536,1.623691876,1.110485234,-0.27173913
2013-03-01,1.44203814,1.176401431,1.218176841,0.931026457,1.707077574,1.436719759,0.972278023,-0.488268005
2013-04-01,1.522577175,1.257565618,2.072467746,1.034053802,1.718628117,1.684063273,0.898725687,-0.515953836
2013-05-01,1.61476958,1.114987697,1.433447099,1.092917428,1.488790138,1.807423346,0.856697819,-1.556629093
2013-06-01,1.695231416,1.284012355,1.464750171,1.11443327,1.721837634,1.867052953,0.810607687,0.246507806
2013-07-01,1.657524446,1.412231989,1.768092105,1.11003299,1.794962039,2.098540146,1.03004061,0.232844816
2013-08-01,1.709019993,1.327128323,1.736158578,1.008925107,1.787729108,2.121049813,0.780098115,0.287947347
2013-09-01,1.706619095,1.242745164,1.809277649,0.789290412,1.9290915,2.306416225,0.528789659,-0.531479967
2013-10-01,1.754359915,1.07946246,0.948124069,0.649375749,1.945165801,2.403846154,0.114468255,-0.436383472
2013-11-01,1.833134348,1.147110333,1.246105919,0.893444208,1.848576198,2.140347141,0.276765042,0.013691128
2013-12-01,1.704074381,1.045151416,1.163892272,0.497762,1.918865107,2.361702128,0.077123557,-0.341623394
2014-01-01,1.688312648,0.895859108,0.365655471,0.357967667,1.768900152,2.364254596,0.015940065,-0.709219858
2014-02-01,1.602956581,0.621515334,0.419429035,0.292442666,1.262588679,2.107330538,-0.230799841,-0.967302452
2014-03-01,1.685360138,0.859151452,0.473292765,0.269044508,1.663572224,2.716036285,-0.132633031,-0.763254736
2014-04-01,1.782323938,1.25138902,0.242033078,0.673335898,2.048288146,2.83083761,0.515820261,-0.368500068
2014-05-01,1.77718677,1.505851245,0.094212651,0.896429671,2.214031269,2.900771426,0.844095327,0.981461287
2014-06-01,1.879746139,1.410046033,1.079330815,0.848694316,2.316315672,2.659714542,0.825390063,-1.50273224
2014-07-01,1.967741935,1.341795104,0.875420875,0.687113738,2.311567717,2.428639016,0.745354842,-0.983875376
2014-08-01,1.924737636,1.410440301,0.765923139,1.087207069,2.209577298,2.480855974,0.758099697,-0.656275636
2014-09-01,2.011240143,1.429903637,0.601282737,1.166986564,2.074230448,2.615336332,0.738536741,0.082203042
2014-10-01,2.03201611,1.546987673,1.073393264,1.271170168,2.167683151,2.69170579,0.821633695,0.273935077
2014-11-01,2.041901211,1.56263527,0.882943144,1.226711646,2.255326435,2.971226022,0.735118495,0.150581793
2014-12-01,2.187932164,1.711639582,0.882943144,1.493568823,2.339381212,2.95156932,0.985889293,0.287947347
2015-01-01,2.211286137,1.854429786,2.104979085,1.319372531,2.499816908,2.735246795,1.282970755,0.508241758
2015-02-01,2.266671507,2.157171548,2.155753166,1.515500307,3.039952968,3.150343107,1.47574984,0.398954464
2015-03-01,2.137188825,1.71518682,1.99192463,1.307114382,2.36442886,2.597737954,1.166064598,-0.274687543
2015-04-01,2.112614957,1.595294455,1.448692153,1.372061915,2.053233783,2.320675105,1.314675696,-0.520547945
2015-05-01,2.179985996,1.784078548,2.178297701,1.548141087,2.306444977,2.598202824,1.579002957,-1.781857451
2015-06-01,2.063993893,1.931007819,1.681793914,1.469860249,2.367880034,2.724194541,1.655751558,0.665742025
2015-07-01,2.108078571,2.152800143,2.082777036,1.72321769,2.276238293,3.063895304,2.290862971,-0.096605023
2015-08-01,2.057843644,2.151597626,2.226963595,1.474556303,2.414865158,3.060545576,2.344306872,-0.426644646
2015-09-01,1.925735942,2.091098932,1.886040643,1.384988996,2.457735132,2.900397594,2.373417722,-0.876112252
2015-10-01,1.980105978,2.270544119,2.283286871,1.653394008,2.476505562,2.981814487,2.74283303,-1.051768884
2015-11-01,1.939669015,2.215545043,2.294125448,1.522381277,2.430447576,2.753872633,2.787291217,-1.011481684
2015-12-01,1.943787572,2.290585198,2.678689829,1.619126882,2.479181083,2.841712094,2.80248408,-0.916051408
2016-01-01,1.853366427,1.955924426,1.876569314,1.552030889,2.374544502,2.662422956,2.077104642,-1.448681153
2016-02-01,1.838744258,1.980085992,2.176206806,1.341698477,2.391593762,2.746698921,2.198464481,-1.507262264
2016-03-01,1.949139313,2.260386949,2.26972816,1.649702978,2.711832152,2.728279472,2.536298475,-0.867649084
2016-04-01,1.881983092,2.163322366,2.657675526,1.541999698,2.793415521,2.982147347,1.994725986,-1.087854586
2016-05-01,1.662981357,1.736635988,2.131859455,0.931245541,2.386922786,2.572443822,1.48427346,-0.46728972
2016-06-01,1.740013971,1.594493028,1.719611447,0.863136563,2.34146111,2.402237427,1.491102741,-1.887572334
2016-07-01,1.766702343,1.600190566,1.713314151,1.060640132,2.532392438,2.529628523,1.0229122,-1.478104711
2016-08-01,1.774331987,1.549639513,1.513175059,1.15351485,2.329685845,2.408501763,1.101452266,-1.520387008
2016-09-01,1.868968377,1.692927403,1.603441533,1.44092219,2.41286234,2.620498341,1.169500258,-1.298163237
2016-10-01,1.716569666,1.248869408,1.271901363,1.007237186,2.004912855,1.731366843,0.849654748,-1.546107123
2016-11-01,1.668241801,1.430884591,1.205600207,1.175022381,2.164926785,2.069169376,0.817613287,-0.207125104
2016-12-01,1.619563319,1.268007931,0.955701924,1.124264761,1.969823973,1.97791411,0.806307113,-1.531668277
2017-01-01,1.731662186,1.55583647,1.349072513,1.379207515,1.998418016,2.529403081,1.176712399,-0.901400638
2017-02-01,1.665423467,1.548457783,0.81321802,1.525322593,2.010680288,2.246529651,1.199938465,-0.431274346
2017-03-01,1.588240616,1.431617423,1.225806452,1.273031826,1.820371485,2.307918463,1.065219061,-0.583495415
2017-04-01,1.587301587,1.172096366,0.772797527,0.943080979,1.465049105,1.909366149,1.018814796,-0.570792148
2017-05-01,1.665659071,1.208024935,0.901945626,1.183079728,1.483329868,1.898023908,1.114213263,-1.463684065
2017-06-01,1.62564412,1.482352128,1.161440186,1.395245005,1.676093732,2.136168552,1.24651258,0.393203202
2017-07-01,1.53053105,1.335015895,0.848656294,1.127387354,1.625080563,1.826129189,1.160858115,0.420639372
2017-08-01,1.565049081,1.269823781,0.87381136,0.988559369,1.713234449,1.624478712,0.997601674,0.533333333
2017-09-01,1.3882564,1.037290277,0.872465999,0.741587957,1.427818394,1.134388878,0.92936803,0.265845809
2017-10-01,1.478029478,1.348909122,0.986799949,0.908553701,1.756800147,2.075252133,1.033394421,0.560852496
2017-11-01,1.510727959,1.109238401,0.845395158,0.800058991,1.506423444,1.819673714,0.935553578,-0.940916009
2017-12-01,1.480304999,1.077558174,0.844313675,0.500662642,1.452253733,1.670035615,0.964907826,0.126121076
2018-01-01,1.42214901,1.469079568,1.087930372,0.720667721,1.740300618,2.692584593,1.274758761,0.573747551
2018-02-01,1.55037165,1.49070274,1.280409731,0.855893913,1.76620539,2.700887503,1.203445655,0.503004052
2018-03-01,1.58670348,1.502866503,0.98151689,0.933583269,1.853789464,2.447435222,1.297220604,0.461151481
2018-04-01,1.572761602,1.621651161,1.265337423,0.886453084,2.152178369,2.362355647,1.31008793,1.106132736
2018-05-01,1.668443788,1.7316845,1.16204827,0.919219032,2.281264941,2.394177361,1.332455163,2.340246637
2018-06-01,1.688356889,1.593552211,1.275672917,0.788932922,2.107127449,2.373221278,1.223581758,1.60861659
2018-07-01,1.668290888,1.51068709,1.02001785,0.693094723,1.845979615,2.360965373,1.299193691,1.773247696
2018-08-01,1.730826822,1.470818232,0.98089172,0.65992081,1.754465295,2.514672902,1.1797398,1.898645819
2018-09-01,1.791863456,1.057895488,0.852200458,0.417505951,1.123011569,1.947401079,0.908196473,1.548981301
2018-10-01,1.800247279,1.179756997,0.748730964,0.512407584,1.386134151,2.327569827,0.773416637,1.798661461
2018-11-01,1.781280949,1.276638997,0.698590118,0.73518654,1.355703187,2.318084854,0.979774828,2.067327839
2018-12-01,1.81508984,1.310576044,0.608905239,1.087912088,1.276164754,2.556213018,0.814848348,2.2253324
2019-01-01,1.908409861,1.304242326,0.683717397,0.912641916,1.605165224,1.528323051,1.023017903,2.504522054
2019-02-01,1.703613172,1.087307568,0.480404551,0.469842657,1.449275362,1.452727952,0.788584303,2.432920895
2019-03-01,1.710963791,,,,,,,

Events

Seminar

2019 Research Seminars, Jaume Ventura

Tue., May 7, 2019

10:45 a.m. - 12:45 p.m.

Richmond Office
Richmond, VA

Ventura, director and senior researcher at CREi, presents his latest work at this seminar.

Conference

Market Structure and the Macroeconomy

Thu., May 16, 2019 - Fri., May 17, 2019

8:30 a.m. - 12:30 p.m.

Richmond Office
Richmond, VA

This two-day workshop brings together leading researchers in the field of macroeconomics to share their work on market power and concentration.

Seminar

2019 Research Seminars, Pablo Ottonello

Wed., May 22, 2019

10:45 a.m. - 12:15 p.m.

Richmond Office
Richmond, VA

Ottonello, assistant professor of economics at the University of Michigan, presents his latest work at this seminar.

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Econ Focus Magazine Looks at Energy Booms and Workers’ Education Choices

Fifth District Payroll Revisions

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Assessing Macroeconomic Tail Risk

What Do Sectoral Dynamics Tell Us About the Origins of Business Cycles?

Aggregate Labor Force Participation and Unemployment and Demographic Trends

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Employment Growth in the Fifth District

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2019 Research Seminars, Jaume Ventura

Market Structure and the Macroeconomy

2019 Research Seminars, Pablo Ottonello

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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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Being a Research Associate at the Richmond Fed

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