Throughout the Washington, D.C. area, businesses in sectors such as retail, manufacturing and hospitality report a shortage of job applicants. With a tight labor market spurring competition for front-line and entry level workers, the number of job postings has soared to record levels. Meanwhile, many area employers are boosting wages to attract and retain workers.
Washington, D.C. market snapshot
JOBS ADDED: +1,000 MoM
UNEMPLOYMENT RATE: 6.3%, up from 6.1% in December 2021
WAGE CHANGE: +4.0% YoY
- Compensation costs for private industry workers increased 3.7% in the Washington, D.C. area in 2021.
- Nonfarm wage and salary employment in the Washington, D.C. area is up 3.3% YoY.
- The unemployment rate in the U.S. is 4.0%, compared to 3.9% in December 2021.
- U.S. BLS, Local Area Unemployment Statistics
- Emsi, April 3, 2022
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