Washington DC, besides being the seat of US Government, is also the 35th largest economy in the U.S., according to Wikipedia.org. Washington DC is thought to be somewhat immune to recessionary trends as the U.S. government still works during downturns.
In addition to government jobs, the Washington DC area is home to many law firms, government and defense contractors, professional associations/trade groups, unions and professional lobbying organizations comprise some of the area's largest employment.
Unemployment Rate of Washington DC Metro Area:
The Washington area unemployment rate was 9.6% according to April 2011 statistics from the Bureau of Labor Statistics, April 2011 report.
Top Industries in Washington DC Metro Area:
Fastest-growing industries in the Washington D.C. metro area are:
- Defense – Led by General Dynamics, and Lockheed Martin
- Business Services – Led by Accenture, and Booz Allen
- Retail – Led by Sears, and Harris Teeter,
- Banking – Led by Fannie Mae, and Capital One
- Technology – Led by Harris Corporation
- Telecommunications – Led by AT&T, and Verizon
- Government Contractors – Led by L-3 Communications, and URS Corporation
- Health Care – Led by Children's National Medical Center, Quest Diagnostics, and Johns Hopkins
Best-paying industries in the Washington DC metro area are:
Top Corporate Employers in the Washington DC Metro Area*:
- US Government - Of course, the largest employer in the Washington D.C. metropolitan area is the U.S. Government. According to the Bureau of Labor Statistics Guide to Federal Government, the U.S. Government employs more than 300,000 workers in the metropolitan Washington D.C. area.
- McDonald's – McDonald's is the world's largest food service retailer, with approximately 394 locations in the Washington DC metro area. McDonald's is number 107 of the Fortune 500. The Washington Post reports that McDonald's employs over 33,000 people in the metropolitan Washington DC region.
- Northrop Grumman – Northrup Grumman is the 3rd largest defense supplier to the US Government. Northup Grumman, number 76 of the Fortune 500, manufacturing airplanes, aerospace systems and equipment, naval surface vessels, submarines, defense electronics, provides information services and technical services, to government customers. The Washington Post reports that Northrup Grumman employs over 20,000 people in the metropolitan Washington DC region.
- Science Applications International Corp. – Science Applications International Corp, or SAIC, is the 9th largest defense contractor to the US government. SAIC, number 285 of the Fortune 500, provides information technology solutions to the US Government and various defense agencies. The Washington Post reports that SAIC employs over 17,000 people in the metropolitan Washington DC region.
- Verizon Communications – Verizon Communications became the nation's largest cellular provider after its purchase of Alltel. Verizon, number 17 of the Fortune 500, provides cellular, land line, local, long distance, networking, home entertainment, broadband and data services. The Washington Post reports that Verizon employs over 16,000 people in the metropolitan Washington DC region.
- Safeway – Safeway is the 3rd largest grocery company in North America, and the 10th largest US retailer store chain. Safeway, number 50 of the Fortune 500, has 135 stores in the Washington DC metropolitan area, and serves 28% of the regions' grocery sales. The Washington Post reports that Safeway employs approximately 11,500 people in the metropolitan Washington DC region.
- Ahold USA – Close behind Safeway is its closest competitor, Ahold USA, and its' local grocery chain Giant Foods. Giant Foods operates over 180 Giant Foods supermarkets in the Washington DC metropolitan area. The Washington Post reports that Ahold employs approximately 11,450 people in the metropolitan Washington DC region.
- Wal-Mart Stores – Wal-Mart is the nation's largest retailer, and is growing as Americans seek low priced products during the current recession. Wal-Mart, number 2 of the Fortune 500, has 7 Wal-Mart and 6 Sam's Club stores in Washington DC metropolitan area. The Washington Post reports that Wal-Mart employs approximately 10,600 people in the metropolitan Washington DC region.
- Macy's – Macy's is the nation's largest department store operator. Macy's, number 96 of the Fortune 500, operates 8 Macy's and 3 Bloomingdale's stores in the Washington DC metropolitan area. The Washington Post reports that Macy's employs approximately 8,000 people in the metropolitan Washington DC region.
- Citigroup – Citigroup is one of the nation's 4 largest banks, and one of the largest financial services companies. Before the banking crisis in 2008, Citigroup was the nation's largest bank holding company but has fallen from the top spot and almost failed before it was rescued during the US bank bailout. Citibank manages 48 branches in the Washington metropolitan region. The Washington Post reports that Citigroup employs approximately 8,000 people in the metropolitan Washington DC region.
- United Parcel Service – Untied Parcel Service is the nation's largest package delivery company. UPS, number 46 of the Fortune 500, has endured a tough year as fewer people shipped packages and more chose slower delivery services, due to the 2009 recession. However, UPS is expanding internationally, concentrating on Singapore. The Washington Post reports that UPS employs approximately 8,000 people in the metropolitan Washington DC region.
- Raytheon – Raytheon is one of the nation's largest defense contractors and providers of IT services to the federal government. Raytheon, number 112 of the Fortune 500 builds integrated defense systems, missile systems, space and airborne systems, network systems, intelligence and information systems, and provides technical services and consulting. The Washington Post reports that Raytheon employs approximately 4,800 people in the metropolitan Washington DC region.
Top Washington DC metropolitan area jobs in need of workers:
- Information technology
- Health Care
- Customer Service
- General Business
- Professional Services
Washington DC metropolitan area attitudes and employment outlook:
The Washington DC area is projected to grow above the national average through 2025, at a rate of 24.8% based on the report published by BizJournals.com.
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