https://www.richmondfed.org/research/regional_economy en-us Feeds from the Federal Reserve Bank of Richmond Focusing on a complete household’s needs, Garrett County Community Action Committee’s integrated “2Gen approach” links children to high-quality early education and their parents to services that build financial security.

]]> The Fifth District's economy strengthened in recent weeks.

]]> Manufacturers have recently seen an increase in orders, but disruptions in the supply chain have made meeting demand a challenge.

]]> Community development financial institutions (CDFIs) like Woodlands Community Lenders are uniquely positioned to help rural towns address unique challenges through place-based revitalization and by attracting investment.

]]> The Fifth District’s economy strengthened in recent weeks.

]]> Surveyed Fifth District firms are raising wages at an above normal pace as they struggle to fill open positions.

]]> Vance-Granville Community College’s early college high schools and workforce programs are improving education and job opportunities for area residents.

]]> Choptank Electric Cooperative on Maryland’s Eastern Shore is an example of how many electric cooperatives are providing broadband service in rural communities.

]]> In our new Rural Spotlight series, we explore solutions to the economic challenges faced by rural communities in the Fifth District.

]]> Recent reports reflect expansion in the Fifth District economy.

]]> This post looks at the current assessment of roads and bridges in the Fifth District and how states have recently allocated federal funds.

]]> This post explains how the newest round of stimulus dollars can be used to help governments and communities recover from the pandemic.

]]> The Fifth District's economy expanded in recent weeks.

]]> Recent legislation has increased emergency rental assistance for renters struggling due to the pandemic, but efficient disbursement has been a challenge in many states.

]]> Regional businesses are returning to pre-COVID-19 operations as workers return to the office and business travel picks up.

]]> Community college enrollment declined significantly across the country in fall 2020, breaking the typical pattern of increased enrollment during a recession.

]]> Recent reports reflect growth in the Fifth District economy.

]]> The economic recovery enabled by the vaccine rollout has increased demand for Fifth District goods and services. But can supply keep up with demand?

]]> In Fifth District states, as in most of the nation, spending appears to be falling short of what is required to support students most in need.

]]> The Fifth District's economy expanded in recent weeks.

]]> Surveyed firms shared how the balance of remote versus in-office work has shifted in the past year and what changes they anticipate in the future.

]]> K-12 remote learning exposes divisions in access to digital resources. A federal broadband service subsidy and new satellite technology may help bridge the gap.

]]> The Fifth District's economy showed signs of growth in recent weeks.

]]> An estimated 30 percent of Fifth District businesses are minority-owned, but this trails the minority share of the population.

]]> Rural black Fifth District communities have long suffered fewer economic opportunities and thus worse economic outcomes.

]]> Amid the COVID-19 pandemic, public school enrollment has decreased overall and across racial groups, with the steepest declines in grades Pre-K through elementary.

]]> Labor force participation took a big hit from the pandemic. How then should we interpret states’ reported unemployment rates?

]]> Educational attainment has increased across the Fifth District, but there are large geographic and racial disparities, according to the 2019 American Community Survey estimates.

]]> The Fifth District's economy showed modest signs of expansion in recent weeks.

]]> This article provides some history on the evolution of the Fifth District population across race and the rural-urban continuum since the late 1800s.

]]> The most recent stimulus bill extends many 2020 changes to the unemployment insurance program but reduces the supplement to weekly benefits.

]]> Recent reports reflect moderate expansion in the Fifth District in recent weeks.

]]> Fifth District business surveys indicate that after a volatile year, firms remain uncertain about when or if they will return to pre-COVID levels of business activity.

]]> Firms report how the coronavirus is influencing their employment levels, hiring plans, and wages in our annual survey.

]]> The Fifth District economy saw some expansion in recent weeks.

]]> The COVID-19 pandemic has depressed housing security and increased eviction risk for renters in the Fifth District. Although helpful for tenants, some federal pandemic-response provisions are ending in December.

]]> Job postings, employment by income level, and business formation data tells the story of labor market activity during the economic downturn caused by COVID-19.

]]> The COVID-19 pandemic has caused severe economic distress in the Fifth District, but the regional housing market has proven remarkably resilient.

]]> Recent reports suggest continued economic recovery in the Fifth District.

]]> The COVID-19 pandemic is forecast to negatively affect state and local government revenues. In the absence of sizable federal transfers, this is likely to disrupt spending on critical services — including education — in ways that may have long-lasting effects.

]]> The Fifth District economy continued to recover in recent weeks after the sharp contraction in the spring.

]]> How did rural and urban counties compare on measures of health outcomes and drivers prior to the COVID-19 pandemic?

]]> As the COVID-19 pandemic forced schools to shift their approach to instruction, the Fed and other economic and financial literacy organizations pivoted, too.

]]> The Fifth District's economy showed signs of modest improvement in recent weeks.

]]> July data from the Household Pulse Survey reveals some of the reasons people have not been working and how households met their spending needs.

]]> Businesses report on their progress since the start of the pandemic in our July and August surveys.

]]> The digital access “homework gap” most severely affects students in poor households and is compounded in rural areas by a lack of broadband internet infrastructure.

]]> Recent reports suggest the Fifth District's economy strengthened in recent weeks.

]]> Policy changes and the unique nature of the COVID-19 pandemic may impact the way labor market health is evaluated going forward.

]]> Although the Fifth District’s black population tends to have higher employment and educational attainment compared to the nation’s, there are still significant disparities relative to whites.

]]> The Federal Reserve developed and fielded a survey of community-based organizations to better understand the impacts of COVID-19 on their operations and the communities they serve. Fifth District respondents in April and June expressed that while organizations and communities are experiencing significant disruptions, effects are expected to be longer-lasting for the latter.

]]> The COVID-19 pandemic has caused an unprecedented amount of job loss, yet only a few industries have accounted for a significant portion of it. How do these industry-specific trends in the Fifth District compare to the U.S. overall, and is there any relationship between recent job recovery and states’ phased reopening plans?

]]> The economy in the Fifth District showed some signs of improvement in recent weeks. The unemployment rate fell but remained high.

]]> The COVID-19 pandemic has put housing stability at the forefront of public policy discussions.

]]> The number of hours worked by hourly employees dropped considerably in the United States and the Fifth District in March but showed signs of recovery in May and June. A look at high frequency data shows how hours worked by hourly employees in the food and drink, leisure and entertainment, and retail industries have been impacted during the COVID-19 pandemic.

]]> COVID-19 has disrupted traditional higher education institutions and is forcing institutions to make substantial changes to their plans for the coming academic year.

]]> The number of job postings dropped considerably in the United States and the Fifth District in March and April but showed signs of recovery in May.

]]> The Fifth District's economy contracted sharply in recent weeks.

]]> While most businesses surveyed have suffered some negative effects and loss of revenue as result of COVID-19, most remained open and operating, at least partially.

]]> As part of the U.S. response to COVID-19, unemployment insurance recipients are receiving increased weekly payments. For many individuals in the Fifth District, these enhanced unemployment benefits are greater than the wages they earned while at work.

]]> The measures taken to slow the spread of COVID-19 have not only led to a sharp decline in employment and an unprecedented rise in unemployment but have negatively impacted state and local governments that depend on income and sales taxes as primary sources of revenue.

]]> Federal, state, and local government financial support for consumers in response to COVID-19 is widespread, but not universal. Who’s left out from existing governmental support programs?

]]> Economic indicators reflected soft conditions in the Fifth District.

]]> Over the past several weeks, social distancing and shutdowns have impacted our economy. Fifth District firms continued to tell us how COVID-19 has affected their business operations in recent surveys.

]]> What does hospital capacity look like in the Fifth District, and how might rural hospital closings impact the current crisis?

]]> How many COVID-19 cases will there be in the coming days and months? While the Fifth District appears to be past the peak number of daily cases, a wide range of future outcomes is still possible.

]]> Financial institutions that lend to small businesses are on the front lines of financial support. How are these lenders supporting small businesses during COVID-19?

]]> In recent weeks, unemployment insurance claims have hit record numbers. But what exactly do unemployment insurance programs cover? And what roles do states play?

]]> Between mid-March and early April, more than 360,000 Virginians filed for unemployment. What does this mean for employment measures and the state's economy?

]]> As the COVID-19 pandemic spreads across the country, Americans are taking measures to distance themselves from their communities, both voluntarily and by mandate. What measures have Fifth District jurisdictions taken and what might this mean for the Fifth District economy?

]]> Reports on the Fifth District's economy showed mixed conditions in the past two months.

]]> On March 13, 2020, the President declared a national state of emergency and by March 16, every state and the District of Columbia had declared states of emergency, all due to the rapid escalation of positive cases of COVID-19. However, Fifth District firms were reporting impacts from the virus before the emergency declarations and the initiation of social distancing mandates in states and localities across the country.

]]> The Fifth District's economy remained strong in early 2020.

]]> The Crooked Road trail celebrates the cultural history of Appalachian music and arts. In 2015, it was estimated to bring $6.4 million in tourism spending to the region annually and continues to promote growth in southwest Virginia’s tourism industry today.

]]> Explore how payroll employment growth in Maryland has differed from the nation since the Great Recession in this Regional Matters article.

]]> According to the U.S. Census Bureau, 27.7 percent of individuals worked outside their county of residence in 2018. This Regional Matters article presents data on commute times and asks: how do commute times differ for residents of rural and urban counties in the Fifth District?

]]> The Fifth District's economy showed signs of expansion in recent weeks.

]]> Reports on the Fifth District economy were somewhat positive in recent weeks.

]]> College attainment differs greatly between Fifth District counties, as do unemployment rates and earnings by education level from state to state.

]]> Investment by community development financial institutions (CDFIs) varies by county and between urban and rural areas.

]]> A special survey on hiring and wages, conducted in November, showed that a majority of Fifth District firms expect to hire or hold payrolls steady and plan to use wage increases to attract and retain workers over the next twelve months.

]]> Recent reports on the Fifth District economy were fairly positive.

]]> Young adults have been buying houses at lower rates. This gap between young and older adults is particularly high in Fifth District rural counties.

]]> The Fifth District economy improved somewhat in recent months.

]]> The Richmond Fed conducts monthly surveys of business conditions. The information collected are aggregated and combined into several individual diffusion indices. But what kind of information do diffusion indices reveal?

]]> The Fifth District economy improved somewhat in recent months.

]]> Why are hospitals in rural areas closing at a higher rate, and what are the consequences for these communities?

]]> Recent reports on the Fifth District economy were fairly positive.

]]> Mortgage debt is a smaller share of household debt, while student loan debt has become a larger share. Meanwhile, delinquencies for auto loans have increased.

]]> Recent reports on the Fifth District economy were mixed.

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]]> Recent economic reports on the Fifth District were somewhat positive. Payroll employment declined marginally; however, business conditions remained favorable and housing market indicators were upbeat.

]]> Although firms in the Fifth District received approximately $129 billion in contracts from the federal government in fiscal year 2018, some of those contracts span several years or were subcontracted out. How much did firms receive after adjusting for those factors? 

]]> According to recent data, the Fifth District economy strengthened somewhat.

]]> The labor force participation rate varies considerably across Fifth District jurisdictions, from West Virginia's 53.3 percent to the District of Columbia's 70.4 percent. What is driving the differences among jurisdictions? 

]]> The most recent reports on the regional economy were mixed. Business conditions weakened for manufacturing firms but strengthened for services firms.

]]> Revised payroll employment data for 2018 showed that fewer jobs were added in the Fifth District than originally reported.

]]> The most recent reports on the Fifth District economy were more sluggish.

]]> Economic reports on the Fifth District were upbeat in recent months.

]]> As of December 2018, unemployment rates declined in every county and independent city in the Commonwealth of Virginia from December 2017. But how do the most recent rates compare with previous lows?

]]> The most recent reports on the Fifth District economy were somewhat positive.

]]> Recent reports on the Fifth District economy were mostly positive.

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]]> Economic conditions in the Fifth District generally improved, according to recent reports.

]]> According to recent data, Fifth District economic conditions softened somewhat.

]]> Although changes in educational attainment, employment status, and median earnings were inconsistent across Fifth District jurisdictions in 2017, most saw lower unemployment and higher median earnings.

]]> Reports on the Fifth District economy were upbeat in recent months.

]]> Reports on the Fifth District economy were mostly positive in recent months.

]]> By 2016, after the passage of the ACA and expansions to Medicaid, the share of the population with insurance increased in every state in the Fifth District. However, those improvements were not evenly distributed across states or counties and were more substantial in states where Medicaid was expanded.

]]> In June 2018, the Richmond Fed asked its survey participants about the expected impacts of the tariffs imposed on imported steel and aluminum. While about half of the firms surveyed expected negative impacts to their own businesses and to the U.S. economy, there was a good portion of firms that believed the tariffs would be good for the overall U.S. economy, even if their firms would not directly benefit.

]]> According to recent data, the Fifth District economy generally expanded.

]]> Ride-sharing services have been competing with the taxi industry and encountering regulatory spats, yet they have grown markedly, particularly around the District of Columbia.

]]> Economic conditions in the Fifth District improved in recent months.

]]> Natural gas production has experienced tremendous growth over the last decade in the U.S. and West Virginia and continues to grow. In West Virginia, six new pipeline projects have been proposed. How will these pipelines service the natural gas market, and how long until they are in service? What has the impact been on job growth and wages?

]]> Economic conditions in the Fifth District generally improved in recent months.

]]> In April, we surveyed firms about their adoption of technology and how it might translate into prices and employment in the next few years. Most firms reported adopting new technology, although many did not anticipate the technology to notably impact their pricing or employment decisions.

]]> Charlotte, N.C., has the most diverse industrial mix of any Fifth District city. What causes industry diversity in cities?

]]> According to recent data, economic conditions in the Fifth District varied somewhat.

]]> Revised employment data show fewer jobs added in the Fifth District than originally reported. By December 2017 (the most recent month revised), total employment was revised lower by 75,300 jobs or 0.5 percent.

]]> Economic reports on the Fifth District economy generally strengthened in recent months.

]]> December 2017 marked the 10-year anniversary of the start of the economic downturn which would ultimately evolve into the Great Recession. As bad as the Great Recession was nationally, South Carolina's descent into the trough was steeper. And its recovery has been more impressive, particularly in the Charleston and Upstate regions.

]]> Economic reports on the Fifth District were somewhat positive in recent months.

]]> Beginning with the release of our February 2018 survey results, we began to report a few new variables in our Fifth District Survey of Manufacturing Activity and Fifth District Survey of Service Sector Activity. What are they and what can they tell us?

]]> In 2016, every Fifth District jurisdiction, along with the nation, saw an increase in the share of the over-25 population with a bachelor’s degree or higher. What else changed since 2015?

]]> The most recent reports on the Fifth District economy were mixed in December.

]]> Ten years after the housing market collapse, activity in the single-family market remains somewhat subdued. Despite rising prices and low inventories, single-family construction has increased very gradually. Are there impediments to new housing supply?

]]> Recent reports on the Fifth District economy were mostly positive.

]]> A November 2017 survey of Fifth District businesses found that most firms plan on increasing hiring in the next year as well as raising wages to attract and retain workers, though not for all positions.

]]> The Richmond Fed worked with NCEast Alliance to facilitate a business and industry roundtable meeting that focused on payroll employment growth.

]]> The effects of Hurricanes Harvey and Irma on Fifth District firms were largely indirect and negative, although some businesses reported positive economic impacts.

]]> The Fifth District economy has been increasingly driven by urban areas. How do we understand the existence, growth and decline of cities?

]]> The Fifth District Hispanic population has been exhibiting significant growth, but labor market indicators provide insight on income disparity relative to population overall.

]]> Fifth District states — especially West Virginia — are struggling with the opioid epidemic as drug use and opioid overdose deaths continue to rise.

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]]> The Fifth District has a disproportionately high share of federal government employment and contract dollars, and could be more heavily affected by reductions than other comparable areas. 

]]> It is generally stated, but somewhat disputed, that around 11 million unauthorized immigrants currently reside in the United States. Why is it important to know more about the size and characteristics of the unauthorized population? And what role should different levels of governments play in enforcing immigration laws?

]]> Getting outdoors is healthy for individuals--and maybe for the economy. How large is the economic impact and who measures it?

]]> While increased global integration required painful adjustments for some workers and communities as well as companies and even entire industries, there have also been significant benefits to this global interconnectedness, including in the Carolinas.

]]> How has the Garrett County economy progressed since the Great Recession? How has the labor market improved? Has business activity stabilized?

]]> Fifth District businesses have expressed concerns over a growing skills mismatch in the local labor force. As a result, some have turned to apprenticeship programs.

]]> On Jan. 18, the Board of Governors released the most recent installment of the Beige Book report. With this report comes a new design. What changes can you expect, and why now?

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]]> The qualitative data conveyed through surveys, or gathered at roundtable meetings with business firms or our own Bank directors are very valuable pieces of information. However, summarizing and extracting meaning out of this information are very challenging tasks. So how can we make sense out of this information?

]]> The Richmond Fed publishes a series of diffusion indices based off of surveys of manufacturing and service sector firms across the Fifth District. These indices help us to understand business conditions in our region in a timely and more comprehensive way.

]]> There has been a dramatic change in the energy sector in recent decades. With lower prices, what is the outlook going forward? What has the impact been on West Virginia, the Fifth District’s largest energy producer?

]]> In 2015, nearly 4 million Virginia residents commuted to work; however, the means of transportation and average commute time varied substantially by location.

]]> Income has been growing, but many households have not fully recovered from the recession. Income inequality persists at the national level and varies by state and metro area within the Fifth District.

]]> This Regional Matters post examines manufacturing in the Fifth District.

]]> Virginia gained jobs at a brisk pace during 2015, but the pace slowed during the first five months of 2016 and has only recently picked up again. Employment growth by industry and by metro area varies substantially. 

]]> The latest Regional Matters post looks at Fifth District trade partners.

]]> Regional Matters examines job growth during and after the Great Recession.

]]> The latest Regional Matters post looks at educational attainment in the Carolinas.

]]> A new Regional Matters post on District foreclosure and forfeiture rates.

]]> There are 12 Federal Reserve Banks across the country: How did one land in Richmond, Virginia?

]]> In May, the Richmond Fed added questions to our regular monthly surveys to explore employer opinions on hiring, employee retention, and wage plans.

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]]> In this new web series, we will focus on topics and data related to urban and regional economic issues, particularly those that are important to areas within the Fifth Federal Reserve District.

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