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Said it before and I'll say it again, the boom is over, it was probably fun while it lasted. It's true they are still building office buildings and the sort. But just take a look at how many "For Lease" signs are on them. The people who came with the flood of Federal money that poured in a decade ago, will probably find the next place to go in the coming months and years.
If you spend some time on the general u.s. forum, every couple of months or so you will see someone starting a thread about how everyone is "fleeing" the northeast.
Yet, the northeast remains the most densely populated - and the wealthiest - region in the United States, and every state in the northeast has gained population in the last 10 years.
If you spend some time on the general u.s. forum, every couple of months or so you will see someone starting a thread about how everyone is "fleeing" the northeast.
There aren't many states that have lost population. Funny how population growth works.
I wonder if that D.C. growth of the past few years was just temporary thing. Not coincidental that the population growth also came to a halt with the economy.
D.C., literally, has the strongest job market in the Western World. If you have an SCI clearance, fluency in Pashto, Arabic, Farsi or Mandarin and hold an M.S. in computer science or mathematics then you, literally, can write your own ticket in this area.
The only place that can even come close is Williston where unemployment is less than 1%.
But 99.99% of people would choose D.C. over Williston.
If you have an SCI clearance, fluency in Pashto, Arabic, Farsi or Mandarin and hold an M.S. in computer science or mathematics then you, literally, can write your own ticket in this area.
Duh. But how many people hold that type of resume? A very small minority. And if you did, you could probably write you're ticket anywhere.
Anyway you cut it, growth here is completely stagnant with DC proper placing dead last for job growth this year. Everyone might have to get used to the new normal and put hubris aside.
Duh. But how many people hold that type of resume? A very small minority. And if you did, you could probably write you're ticket anywhere.
Anyway you cut it, growth here is completely stagnant with DC proper placing dead last for job growth this year. Everyone might have to get used to the new normal and put hubris aside.
About 50% of the population of the DC area holds a bachelors degree or higher, many in technical and science professions. Over 30% hold a masters degrees or higher. This is basically a concentrated knowledge economy, and it's NOT a very small minority, it is the majority of the regional population and labor economy. It is also a majority of the DC population which has identical numbers. This wasn't always the case, but as DC has gentrified, DC population has began to become more educated. Again a more educated population is better for the local economy then a less educated one in terms of local economics.
While there are about 30% of the population with a high school degree or less, they also represent the majority of the unemployed population in DC and my guess the group that is essentially in poverty. Those with bachelors or graduate credentials who represent the majority of DC's population basically have full employment. Those of us who are credentialed experts, there is no shortage of work, even with the slowdown in contracting.
It basically is not impacting those with a college education, which have had full employment for some time in the DC area, and this has not changed one bit. Those without a college education on the other hand face a pretty terrible job market. My advice if you do not have a college education: MOVE. This city will never be a land of opportunity for you. Many of the government jobs that did not require a college education are now being automated out of existence, as well as the private sector jobs.
I have seen the details of the DC unemployment numbers, the reality is a bit deceptive. Essentially we are having many residents without a college education not finding jobs or losing them, but those with a college education, often transplants, finding jobs and never having problems finding employment. This is why it seems like there is no growth in job numbers. This is not a city for the low skilled. The truth is a bit deceptive, this is why well educated professionals are still moving into the area. For them the regional economy is still very strong. But the unemployment for the less skilled remains sky high. One group fits the regional economy, and the other group never will, and is increasingly finding themselves targets of automation. You cannot replace an expert analyst who speaks farsi, but you can replace a file clerk or secretary with a few applications.
Last edited by DistrictSonic; 07-06-2014 at 10:23 PM..
I recommend that everyone check out this article and map. It's as if someone flicked on the light switch on the real deal. Enter your zip code for a closer look:
I recommend that everyone check out this article and map. It's as if someone flicked on the light switch on the real deal. Enter your zip code for a closer look:
What some may consider rare elsewhere, is common here.
One may be doom and gloom, until one realizes the dynamics and how they play out. Thus why those who actually do labor economics and policy never look at higher level numbers, but dig deeper into such factors as educational attainment. In DC digging in deeper reveals this reality, which is why the regions unemployment situation remains better than much of the nation, as long as you have a college education. If you don't have one, the region is much worse than many other places in the country. While there might not have been as much growth, for those with a college education the region has long had full employment, this included during the great recession, and continues to this day. This is why the city will continue to gentrify, and draw those who are well educated professionals. While those who are not in this group will likely continue to get priced out, largely because they don't really fit the regions economy and jobs for those without a college education are scarce, and many of them are getting automated out of existence.
Duh. But how many people hold that type of resume? A very small minority. And if you did, you could probably write you're ticket anywhere.
Anyway you cut it, growth here is completely stagnant with DC proper placing dead last for job growth this year. Everyone might have to get used to the new normal and put hubris aside.
The bolded part simply is not true. There are outfits in town that are desperate for qualified, experienced professionals with proper clearances and coding ability.
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