The Twelfth District economy grew at a solid pace during the third quarter, although growth has slowed from earlier in the year.
Payroll employment expanded by 2.3 percent at an annual rate during the three months ending in September, with a number of sectors posting solid growth.
District growth continued to outpace national growth in recent months, although the gap between the District and the U.S. pace of expansion narrowed.
The District’s current pace of growth represents a collection of divergent state experiences, with some state economies growing rapidly, while others are slowing or contracting.
Despite slower employment growth, many District labor markets remain tight. On average, unemployment in the District was 5.5 percent in September, about the same as in 1997.