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Journal Article
State and Metropolitan Area Data, Q4:17
Discussion Paper
April Update: The Coronavirus and Firms in the Fifth Dis
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.
Discussion Paper
Lagging Labor Force Participation in Maryland and Virginia
By July 2022, the U.S. had officially regained the jobs lost in the pandemic, the unemployment rate matched its pre-pandemic low, and the size of the labor force (the sum of employed and unemployed looking for work) was almost back to its pre-pandemic level. The same was true for many states in the Fifth District. Maryland, Virginia, and West Virginia had recovered nearly all the jobs lost in February and March of 2020, while North and South Carolina had more than fully recovered. Unemployment rates were at or below pre-pandemic rates across much of the Fifth District as well.
Discussion Paper
Regional Job Openings and Quits Rates Jolt to New Highs
Discussion Paper
The Coronavirus and Firms in the Fifth District: As of March 2020
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.
Discussion Paper
State Revenues Hit Hard by COVID-19
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.
Journal Article
District Digest: Transportation Access as a Barrier to Work
Lack of a car can be a barrier to employment, particularly for low-income individuals. According to a 2022 survey conducted by the South Carolina Department of Employment and Workforce, almost 20 percent of individuals in that state who were able to work but were not currently working cited transportation as a barrier. Many studies have shown that ownership of a car (or a truck or motorcycle) increases the probability of work, especially among welfare recipients. And low-income individuals are the least likely to own a car and therefore must rely on other means of transportation, such as ...
Discussion Paper
Eyes on the Roads (and Bridges) in the Fifth District
Discussion Paper
Fifth District Businesses Weigh in on Hiring and Wages
The Richmond Fed surveys a sample of businesses across our district on a monthly basis in order to gauge regional economic activity. These regional surveys provide timely information to our economists, Bank president, and the public about economic conditions in our district. In addition to standard questions about changes in new orders, hiring, and inventories, we often ask additional questions.