Economic and Real Estate Market Update from National Association of REALTORS
Fuller presentation nvar economic summit
1. NVAR’s 14th Annual Economic Summit The Outlook for the Washington Area Economy Stephen S. Fuller, PhD Director, Center for Regional Analysis School of Public Policy George Mason University September 16, 2010
3. 15 Largest Job MarketsJob Change July 09 – July 10 (000s) Washington + 41,800 Source: BLS March 2010 Benchmark, GMU Center for Regional Analysis
4. Annual Job ChangeWashington MSA 000s Annual Data Annual Month over Year 2008 2009 2010 Source: BLS March 2010 Benchmark, GMU Center for Regional Analysis
5. Annual Job ChangeNorthern Virginia 000s Annual Data Annual Month over Year 2008 2009 2010 Source: BLS March 2010 Benchmark, GMU Center for Regional Analysis
6. Job Change by SectorDec 2007 – Dec 2009Washington MSA Total - 79,300 (000s) Source: BLS March 2010 Benchmark, GMU Center for Regional Analysis
7. Job Change by SectorJuly 2009 – July 2010Washington MSA Total 41,200 (000s) Source: BLS March 2010 Benchmark, GMU Center for Regional Analysis
8. Job Change by SectorJuly 2009 – July 2010Northern Virginia Total 22,700 (000s) Source: BLS March 2010 Benchmark, GMU Center for Regional Analysis
9. Unemployment Rate % 9.7 6.3 5.2 U.S. Washington Northern Virginia Source: BLS, Not Seasonally Adjusted
10. 15 Largest Job MarketsRanked by Unemployment RateJuly 2010 % US 9.7 6.3 Source: BLS, NOT Seasonally Adjusted
21. Economic Outlook (GRP) – 2015Washington Area and Sub-state Portions(Annual % Change) % NV MSA SM DC Source: GMU Center for Regional Analysis
22. Employment Change bySub-state Region (000s) Average Annual Change 1990-2008 = 37,000 Source: BLS, GMU Center for Regional Analysis, 2009-2014 based on 2010 Benchmark data from BLS
23. GDP/GRP 2000 - 2015 % Washington U.S. Source: Global Insight, GMU Center for Regional Analysis