Research - Federal Reserve Bank of Richmond

Search
About Us
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.

Learn more about our bank >
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.

Learn more about Economic Research >
- Events
- Contacts
Banking & Supervision
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.
Education
We work with teachers, students and the public to enhance understanding of economics, personal finance and the Federal Reserve.

Learn more about resources, museum visits & educational programs >
- Resources & Programs
- Field Trips & Classroom Visits
- Events
- Contacts
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

Speech

Post-Secondary Paths: Risks and Rewards to Students

The Regional View

August 2019

By Renee Haltom

Article

Monetary Policy across Space and Time

Economic Brief

August 2019, No. 19-08

By Laura Liu, Christian Matthes, Katerina Petrova and Jessie Romero

Publications

Relative Price Dispersion: Evidence and Theory

American Economic Journal: Macroeconomics

Forthcoming

Greg Kaplan, Guido Menzio, Leena Rudanko and Nicholas Trachter

Optimal Liquidity Policy with Shadow Banking

Economic Theory

Forthcoming

Borys Grochulski and Yuzhe Zhang

An Information-Based Theory of Financial Intermediation

Working Paper Series

July 2019, No. 19-12

Zachary Bethune, Bruno Sultanum and Nicholas Trachter

Data & Analysis

Fifth District Unemployment Rates

August 19, 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
2009-07-01,9.5,8.8,9.6,7.1,10.6,11.5,6.8,8.2
2009-08-01,9.6,8.9,9.7,7.2,10.7,11.5,6.9,8.2
2009-09-01,9.8,9,9.9,7.3,10.8,11.5,7,8.2
2009-10-01,10,9.1,10,7.4,10.9,11.6,7.1,8.3
2009-11-01,9.9,9.2,10,7.5,11.1,11.6,7.2,8.4

2009-12-01,9.9,9.3,9.9,7.7,11.2,11.7,7.4,8.5

2010-01-01,9.8,9.4,9.8,7.8,11.4,11.7,7.4,8.6

2010-02-01,9.8,9.4,9.7,7.8,11.4,11.7,7.5,8.6
2010-03-01,9.9,9.4,9.5,7.8,11.4,11.5,7.4,8.6
2010-04-01,9.9,9.3,9.4,7.7,11.2,11.4,7.3,8.5
2010-05-01,9.6,9.1,9.3,7.7,11,11.2,7.2,8.5
2010-06-01,9.4,9,9.3,7.6,10.7,11,7.1,8.5
2010-07-01,9.4,8.9,9.2,7.6,10.6,10.9,7,8.5
2010-08-01,9.5,8.9,9.2,7.6,10.5,10.8,7,8.6
2010-09-01,9.5,8.8,9.3,7.6,10.4,10.9,7,8.7

2010-10-01,9.4,8.8,9.3,7.6,10.4,10.9,6.9,8.8
2010-11-01,9.8,8.8,9.4,7.5,10.4,10.8,6.9,8.8
2010-12-01,9.3,8.8,9.5,7.5,10.4,10.8,6.8,8.8

2011-01-01,9.1,8.7,9.6,7.4,10.4,10.7,6.7,8.7
2011-02-01,9,8.6,9.8,7.3,10.3,10.7,6.6,8.5
2011-03-01,9,8.6,10.1,7.3,10.3,10.6,6.5,8.3

2011-04-01,9.1,8.6,10.3,7.3,10.3,10.6,6.5,8.2
2011-05-01,9,8.6,10.4,7.3,10.3,10.6,6.6,8.1
2011-06-01,9.1,8.7,10.5,7.3,10.4,10.7,6.6,8
2011-07-01,9,8.7,10.5,7.3,10.5,10.7,6.7,8
2011-08-01,9,8.7,10.4,7.3,10.4,10.7,6.7,8
2011-09-01,9,8.6,10.3,7.2,10.3,10.6,6.7,7.9
2011-10-01,8.8,8.5,10.1,7.2,10.2,10.4,6.6,7.8
2011-11-01,8.6,8.4,10,7.1,10,10.2,6.5,7.7

2011-12-01,8.5,8.2,9.9,7,9.8,10,6.4,7.5
2012-01-01,8.3,8.1,9.8,7,9.6,9.8,6.3,7.4

2012-02-01,8.3,8,9.6,7,9.5,9.7,6.2,7.3
2012-03-01,8.2,7.9,9.4,7,9.4,9.6,6.2,7.3
2012-04-01,8.2,7.9,9.3,7,9.4,9.5,6.2,7.4
2012-05-01,8.2,7.9,9.1,7,9.4,9.5,6.2,7.5
2012-06-01,8.2,7.9,8.9,7,9.3,9.4,6.1,7.6
2012-07-01,8.2,7.8,8.8,7,9.3,9.2,6.1,7.6
2012-08-01,8.1,7.8,8.8,7,9.2,9,6,7.7
2012-09-01,7.8,7.7,8.7,6.9,9.2,8.9,5.9,7.6
2012-10-01,7.8,7.6,8.7,6.9,9.1,8.7,5.9,7.6

2012-11-01,7.7,7.6,8.7,6.9,9.1,8.6,5.8,7.5
2012-12-01,7.9,7.5,8.7,6.9,9,8.5,5.8,7.4
2013-01-01,8,7.5,8.7,6.9,8.9,8.4,5.8,7.3

2013-02-01,7.7,7.4,8.7,6.8,8.8,8.4,5.8,7.1
2013-03-01,7.5,7.3,8.7,6.8,8.6,8.2,5.8,6.9
2013-04-01,7.6,7.2,8.6,6.7,8.4,8.1,5.8,6.8
2013-05-01,7.5,7.1,8.6,6.7,8.2,7.9,5.7,6.7
2013-06-01,7.5,7,8.6,6.6,8.1,7.8,5.7,6.6
2013-07-01,7.3,6.9,8.5,6.6,7.9,7.6,5.7,6.6
2013-08-01,7.2,6.8,8.5,6.5,7.7,7.4,5.7,6.6
2013-09-01,7.2,6.7,8.4,6.4,7.5,7.2,5.7,6.6
2013-10-01,7.2,6.6,8.3,6.3,7.3,7,5.6,6.7

2013-11-01,6.9,6.5,8.2,6.3,7.1,6.8,5.6,6.8
2013-12-01,6.7,6.4,8.1,6.2,7,6.6,5.5,6.8
2014-01-01,6.6,6.3,8,6.1,6.8,6.4,5.5,6.9
2014-02-01,6.7,6.2,8,6,6.7,6.3,5.4,6.8

2014-03-01,6.7,6.1,7.9,6,6.6,6.2,5.4,6.8

2014-04-01,6.2,6.1,7.9,5.9,6.5,6.3,5.4,6.7

2014-05-01,6.3,6.1,7.8,5.9,6.5,6.3,5.3,6.7

2014-06-01,6.1,6,7.8,5.9,6.4,6.4,5.3,6.6
2014-07-01,6.2,6,7.7,5.8,6.3,6.5,5.2,6.6
2014-08-01,6.1,6,7.7,5.8,6.2,6.6,5.2,6.5

2014-09-01,5.9,5.9,7.7,5.7,6.1,6.7,5.1,6.5
2014-10-01,5.7,5.8,7.6,5.6,6,6.7,5.1,6.5
2014-11-01,5.8,5.7,7.6,5.6,5.9,6.6,5,6.5

2014-12-01,5.6,5.7,7.5,5.5,5.8,6.5,4.9,6.5

2015-01-01,5.7,5.6,7.4,5.4,5.8,6.5,4.9,6.6

2015-02-01,5.5,5.6,7.3,5.4,5.8,6.4,4.8,6.8

2015-03-01,5.4,5.6,7.2,5.3,5.9,6.4,4.8,6.9

2015-04-01,5.4,5.6,7.1,5.3,5.9,6.3,4.7,7

2015-05-01,5.6,5.5,7,5.2,5.9,6.2,4.6,7.1

2015-06-01,5.3,5.5,6.9,5.1,5.9,6,4.5,7
2015-07-01,5.2,5.4,6.8,5,5.8,5.9,4.4,6.9

2015-08-01,5.1,5.3,6.7,5,5.7,5.7,4.3,6.7

2015-09-01,5,5.2,6.6,4.9,5.6,5.6,4.2,6.6

2015-10-01,5,5.1,6.6,4.8,5.5,5.6,4.1,6.5

2015-11-01,5.1,5,6.5,4.8,5.4,5.5,4.1,6.4

2015-12-01,5,5,6.5,4.7,5.4,5.5,4.1,6.4

2016-01-01,4.9,4.9,6.4,4.6,5.3,5.4,4.1,6.4

2016-02-01,4.9,4.9,6.3,4.5,5.2,5.4,4,6.4

2016-03-01,5,4.8,6.2,4.5,5.1,5.3,4,6.4
2016-04-01,5,4.8,6.1,4.5,5.1,5.3,4,6.3

2016-05-01,4.8,4.8,6.1,4.4,5,5.2,4.1,6.2

2016-06-01,4.9,4.7,6.1,4.4,5,5.1,4.1,6.2
2016-07-01,4.8,4.7,6,4.4,5,5,4.1,6.1

2016-08-01,4.9,4.7,6,4.4,5,4.9,4.2,6
2016-09-01,5,4.7,6,4.4,5.1,4.8,4.2,5.9

2016-10-01,4.9,4.7,6,4.4,5.1,4.7,4.2,5.8
2016-11-01,4.7,4.7,6,4.4,5.1,4.7,4.1,5.7
2016-12-01,4.7,4.6,6,4.4,5,4.6,4.1,5.5

2017-01-01,4.7,4.6,6,4.4,4.9,4.5,4,5.3

2017-02-01,4.7,4.5,6.1,4.3,4.8,4.5,4,5.2
2017-03-01,4.4,4.4,6.1,4.3,4.7,4.4,3.9,5.1

2017-04-01,4.4,4.3,6.2,4.3,4.6,4.3,3.8,5

2017-05-01,4.4,4.3,6.2,4.2,4.5,4.3,3.8,5
2017-06-01,4.3,4.2,6.2,4.2,4.4,4.3,3.7,5
2017-07-01,4.3,4.2,6.2,4.2,4.4,4.2,3.7,5.1
2017-08-01,4.4,4.2,6.1,4.2,4.3,4.2,3.6,5.2

2017-09-01,4.2,4.2,6,4.2,4.3,4.2,3.6,5.3

2017-10-01,4.1,4.1,5.9,4.2,4.3,4.2,3.5,5.3
2017-11-01,4.2,4.1,5.9,4.2,4.3,4.1,3.4,5.4
2017-12-01,4.1,4.1,5.8,4.2,4.2,4,3.4,5.4

2018-01-01,4.1,4,5.8,4.2,4.2,3.9,3.3,5.4

2018-02-01,4.1,4,5.8,4.2,4.2,3.8,3.2,5.4

2018-03-01,4,3.9,5.8,4.1,4.1,3.7,3.2,5.4

2018-04-01,3.9,3.8,5.7,4.1,4,3.5,3.1,5.4

2018-05-01,3.8,3.8,5.7,4,4,3.4,3,5.3

2018-06-01,4,3.7,5.6,4,3.9,3.3,3,5.2

2018-07-01,3.9,3.6,5.5,3.9,3.8,3.3,2.9,5.2
2018-08-01,3.8,3.6,5.4,3.8,3.7,3.2,2.8,5.1
2018-09-01,3.7,3.5,5.4,3.8,3.7,3.2,2.8,5.1
2018-10-01,3.8,3.5,5.3,3.7,3.7,3.2,2.8,5.1
2018-11-01,3.7,3.5,5.3,3.7,3.7,3.2,2.8,5.1
2018-12-01,3.9,3.5,5.4,3.7,3.7,3.2,2.8,5.1
2019-01-01,4,3.5,5.4,3.7,3.8,3.2,2.8,5.2
2019-02-01,3.8,3.6,5.5,3.7,3.9,3.2,2.9,5.2
2019-03-01,3.8,3.6,5.6,3.8,4.0,3.2,2.9,5.1
2019-04-01,3.6,3.7,5.6,3.8,4.0,3.4,2.9,4.9
2019-05-01,3.6,3.7,5.7,3.8,4.1,3.5,3.0,4.8
2019-06-01,3.7,3.7,5.6,3.8,4.1,3.5,2.9,4.7
2019-07-01,3.7,,,,,,,

Tweets by

RichFedResearch

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.

Data & Analysis

Publications

People

Events

Featured

Being a Research Associate at the Richmond Fed

Read in Print or Online

Data &
Analysis