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I think the point was just that while DC has bucked the trend greatly the past few years, it's going to be feeling the pain when the rest of the crowd is getting up off the floor and starting to move on. It was a delayed reaction because of the nature of DC's main job base. Government.
The government's own jobs report:
Quote:
Given the downsizing in the public sector, Washington, D.C., has had more announced layoffs this year than any state, with more than 98,000 cuts so far in 2011. California is next with just over 60,000 layoffs, followed by North Carolina with nearly 55,000 job cuts.
"Over the past six months, we definitely have seen a shift away from the heavy government job cuts at the state and local level toward increased job cuts at the federal level," Challenger, Gray & Christmas CEO John Challenger said in a press release.
Consumers continue to unload debt
"The worst may be yet to come, as cutbacks spread from the military to every other agency in Washington."
D.C. suffered more than 15,000 planned cuts in November alone, compared with 4,100 in California and 2,600 in New York
I guess we will see what happens to these lists over the next few years. I wonder where D.C. will rank this time next year or the year after. Guess we will have to wait and see folks.
Austin, DC, and San Antonio haven't lost any jobs but haven't kept pace with a growing population so their unemployment rates slightly went up in the last year. However no job losses recorded by any of the 3.
Just to confirm, I think Montclair meant these metros have a higher unemployment now than a year ago which is true but none have come close to posting job losses according to the non-farm payrolls of all 3 metros
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