BY THE NUMBERS; Area's Economy on Solid Ground
The Washington area's economy has been swimming upstream for many months against the currents of higher interest rates, a volatile stock market and rising fuel prices.</br></br>But so far the region's economy has kept its head up, with the latest jobs reports showing only small increases in unemployment and a slight drop in employment growth.</br></br>August's unemployment rate for the metropolitan area was a low 2.3 percent, just a notch higher than the 2.2 percent average for the three preceding months, according to the Bureau of Labor Statistics.</br></br>The bureau's August survey of employers also shows virtually no change in job growth in the region. Employment increased at an annual rate of 2.7 percent in the Washington area between August 1999 and this past August. The growth rate from July 1999 to this past July was 2.7 percent.</br></br>The District's jobless rate moved up to 5.4 percent in August, from 5 percent in July, after allowing for seasonal employment changes. Despite the increase, the District's unemployment rate is still far lower than its average during the 1990s. Virginia's unemployment rate was 2.5 percent in August, unchanged from the month before, while Maryland's jobless number climbed to 3.5 percent in August from 3.2 percent in the previous month.