What’s one of the leading causes of a recession and market crashes? Unemployment and job losses.
So why is the Arlington market (and DC metro as a whole) still so strong? The National unemployment rate in November 2010 was 9.3%, Arlington is just 3.8%.
The Sun Gazette reported on Tuesday that:
With 133,809 county residents employed in the civilian workforce and 5,434 looking for work, Arlington’s November jobless rate of 3.9 percent was the only one in Virginia under 4 percent. It was up slightly from the 3.8 percent recorded a month before, according to figures reported Jan. 4 by the Virginia Employment Commission.