March 10, 2010 2 Comments
by Elias Shams
Thanks again to the collapse of the financial market, our government money printing machine, and companies moving their headquarters to DC, jobs in Washington, D.C. are growing quickly. In 2008, the city produced more in goods and services than almost anywhere in the country.
According to research by Forbes, D.C. and nine other cities (among them: Boston, Los Angeles and a host of metros in Texas) are best surviving the downturn in part because they specialize in industries that are relatively insulated from economic volatility. Federal and state jobs all but guarantee the health of a local economy, and nowhere is there more government-related work than in Washington. The city has one of the lowest unemployment rates in the country, at 6.2%, and its output amounts to $362.3 billion, more than three times the average for the country’s largest cities. Read more…