D.C., the Economic Superstar

More

Last week certainly saw more than its share of economic bad news. The housing market lapsed back into a double-dip. The May jobs report showed the slowest private sector employment growth this year, with the average length of unemployment hitting its highest level on record.

But on all these indicators and more, Greater Washington, D.C. flew in the face of the national trend.

  • Metro D.C. clocked the highest level of housing appreciation on the Case-Shiller Home Price Index, 4 plus percent, while every other metro continued tanking.
  • Greater Washington posted the second lowest rate of unemployment according to the latest BLS figures, 5.4 percent, as many metros remain above 10 percent.
  • And DC households boast the nation's second highest real household income, $61,449, when cost of living is taken into account, considerably more than Greater New York's $34,931, which is the nation's second lowest. Only Des Moines, Iowa came out better.

Adding insult to injury, D.C. took another first place -- for best city flag on this ranking by the North American Vexillological Association. Like the rapper K'naan says, "So wave your flag, now wave your flag, now wave your flag!"

Jump to comments
Presented by

Richard Florida is Co-founder and Editor at Large of CityLab.com and Senior Editor at The Atlantic. He is director of the Martin Prosperity Institute at the University of Toronto and Global Research Professor at NYU. More

Florida is author of The Rise of the Creative ClassWho's Your City?, and The Great Reset. He's also the founder of the Creative Class Group, and a list of his current clients can be found here
Get Today's Top Stories in Your Inbox (preview)

CrossFit Versus Yoga: Choose a Side

How a workout becomes a social identity


Join the Discussion

After you comment, click Post. If you’re not already logged in you will be asked to log in or register. blog comments powered by Disqus

Video

CrossFit Versus Yoga: Choose a Side

How a workout becomes a social identity

Video

Is Technology Making Us Better Storytellers?

The minds behind House of Cards and The Moth weigh in.

Video

A Short Film That Skewers Hollywood

A studio executive concocts an animated blockbuster. Who cares about the story?

Video

In Online Dating, Everyone's a Little Bit Racist

The co-founder of OKCupid shares findings from his analysis of millions of users' data.

Video

What Is a Sandwich?

We're overthinking sandwiches, so you don't have to.

Video

Let's Talk About Not Smoking

Why does smoking maintain its allure? James Hamblin seeks the wisdom of a cool person.

Writers

Up
Down

More in Business

From This Author

Just In