Washington Economic News

Kiplinger has compiled the best cities for new grads. Baltimore and Washington are listed among the top ten cities for your career development.

A Gallup survey of small business owners shows they’re feeling the best they have in three years — here’s why...

The Washington area had the third-lowest unemployment rate in November in the nation among big cities, falling from 5.7 percent in October to 5.4 percent.

We're finally in a period of real economic growth, not the bubble economy growth of past decades. Yes, government debt has ballooned, but it has done so in a climate of very low interest rates, which means that servicing the public debt costs less than at any point since the 1980s. There is plenty of reason for optimism.

Maryland's unemployment rate improved to 6.9 percent in November as more people got back to work, the U.S. Department of Labor said today.

"Private companies created 206,000 new jobs in November. That’s nearly 70,000 more than economists initially forecast, and about 70,000 more than were created last month, according to a report from ADP and Macroeconomic Advisers.

Entrepreneurs played a starring role in that impressive burst of hiring, with small and medium-size businesses contributing 94 percent of the new jobs."

VA ranks #2 in Forbes "Best States for Business and Careers" (MD is 19th, and DC is, ummm, still not a state)

"The rapid growth of China, India and other Asian countries does not mean that the United States has fallen behind."

"Loudoun County is the wealthiest county in the Washington, D.C., metropolitan area and has the highest median income of any county in the nation: $116,802 per household. Among the richest fifth of the county households income has grown 11.5 percent since 2007. As in much of the region, federal spending has provided it an economic buffer throughout the recession..."

Information technology is reducing the need for certain jobs faster than new ones are being created.

As the Pentagon confronts the prospect of cutting its budget about 10 percent over the next decade, some are warning that the potential impact on scientific innovation is being overlooked.

It's the most states to report such declines in eight years. Among states with the lowest unemployment rates, Virgina ranks 10th and Maryland 15th nationally.

The internet was just a warm-up act. Low-cost sensors, clever software and advancing computer firepower are opening the door to new uses in energy conservation, transportation, health care and food distribution. 

The concept of an "Industrial Internet" has been discussed for years, but it takes time for the economics and engineering to catch up with the predictions. And that moment is upon us.

If you want to understand the economy today. Read this. The parallels between the story of the origin of the Great Depression and that of our Long Slump are strong. Back then we were moving from agriculture to manufacturing. Today we are moving from manufacturing to a service economy. 

"Looking for a new beginning for the new year? The Daily Beast finds the 30 best metros for starting over." 

"...closeness to the federal government, which expends hundreds of billions on tech products both hardware and software ... explains why Baltimore...and D.C. have enjoyed steady tech growth and, under most foreseeable scenarios, likely will continue to do so in the coming years. Both regions have seen large gains in technology services industries, particularly programming, systems design, research, and engineering."

Which states are the home to most millionaires? Maryland and Virginia and DC rank among the top ten. (Even though DC is still not a state).