Saturday, June 13, 2009

Recession not hurting D.C. metro area

The D.C. metro area economy thrives in the age of big government:
At least there's one place in America that's wearing like Teflon through the recession: Washington, D.C. Most corners of the economy may be struggling, but in the nation's capital it's boom times, baby.

According to new data, the area's unemployment rate dropped to 5.6% in April from 5.9% in March. This is the second consecutive month of improvement for Washingtonians, and it's leagues from the national unemployment rate, which hit 9.4% in May.

With unemployment for all government workers about half the private sector's rate, the Beltway has been spared the tightening elsewhere. ...

As [Senator Mark] Warner put it to the Washington Business Journal, "It helps to be where the money is."