Washington Metropolitan Area Office Market Report - 2Q16

The Washington metro regional economy continued to improve through the second quarter of 2016, as the region added 71,700 jobs in the 12 months ending April 2016. After a lackluster three years, job growth in the area began to gain momentum in 2015 and has now added upwards of 50,000 jobs on a trailing 12-month basis since February 2015. The region's unemployment rate was 3.5% in April 2016, down 70 basis points from 12 months ago. With the private sector representing 95% of the jobs added in the past 12 months, it has led the rebound from the regional slowdown brought on by federal government austerity.

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