The District contains four of the ten fastest growing states in the nation, with Nevada, Arizona, and Utah topping the list.
The pace of employment growth in the District accelerated in recent months, climbing to 3.9 percent at an annual rate during the three months ending in November 1997.
The District unemployment rate fell to 5.3 percent in November, as job growth continued to outpace growth in the labor force.
Construction activity continued to be a main source of strength in the District economy late into 1997, adding jobs at an annual rate of 7 percent between December 1996 and November 1997.
Manufacturing growth picked up in recent months, increasing at an average annual rate of 3.8 percent during the three months ending in November.
Though the District has substantial exposure to developments in East Asia, as of November 1997 only a few industries showed signs of weakening.