Richard Florida
by Richard Florida
Tue Jun 7th 2011 at 10:00am UTC

A Good Week for the Nation’s Capital (if not the Nation)

This has not been the best week for economic 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 DC flies in the face of the national trend. I’m not exaggerating:

  • Metro DC clocked the highest level of housing appreciation on the Case-Shiller Home Price Index, 4 plus percent, while every other metro is 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 McAllen-Edinburg-Mission, Texas fares worse.

Then there’s the icing on the cake. Just to add insult to injury, DC takes first place again – on the North American Vexillological Association’s survey of the best city flag. Like the rapper K’naan says, “So wave your flag, now wave your flag, now wave your flag!”

Take that other cities!

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