A poll released by Gallup yesterday showed that the Washington area enjoyed the greatest level of economic confidence in 2011, clearly less sure than sentiments elsewhere that things are still in the dumps. more ›

After 29 consecutive months of being in double digits, the District's unemployment rate fell below 10 percent in January, new figures from the federal Bureau of Labor Statistics state, falling to 9.9 percent. more ›

Mayor Vince Gray played the sunny optimist last night in delivering his second State of the District address. In a 54-minute speech before a packed house at Sixth and I Historic Synagogue, the mayor portrayed the District as an island of economic stability and growth. more ›

The Case-Shiller report was released last week, and D.C. was the strongest market of the 20-city index. Home prices were up 0.9 percent from February to March, and up 4.3 percent from last March. That's compared to the national trend of prices falling 5.1 percent from last year. That's not to say that prices in D.C. have been on a steady climb. more ›

During this economic downturn, DCist has reported on several arts institutions that are facing financial challenges as a direct result of the crisis. Unfortunately, there is yet another addition to that list -- BloomBars, the non-profit community gallery and performance space located in Columbia Heights. more ›

April's Case-Shiller index was released this morning, and D.C. saw the strongest price appreciation in the 20-city metric, jumping 2.4 percent from March to April. In comparison, prices fell in New York by 0.3 percent. The national index was up 0.8 percent, so D.C. was way ahead of the curve. more ›

According to the latest Bureau of Labor Statistics' data, the unemployment rate dropped 0.6 percent from April to May. more ›

The Los Angeles Times reported this morning that the Walt Disney Co. plans to shutter most of its ESPN Zone stores, and the Wall Street Journal has since confirmed that among those to close will be the Washington, D.C. and Baltimore locations. more ›

D.C. police and emergency crews racked up nearly 52,000 hours of overtime during April's Nuclear Security Summit, which adds up to $4.4 million, Bill Myers reports in the Examiner. The White House has already promised to reimburse the District for the costs, as well it should. more ›

The Case Shiller Home Price Index was released earlier this week for January. The 20-city index was positive year over year for the first time in three long years. But one chart caught my eye shows the relative strength of D.C. home prices compared to other cities in the index. more ›

Montgomery County is considering allowing liquor sales on Sundays. This is an excellent idea, and one that the District of Columbia should consider as well. more ›

Popular car-sharing company Zipcar is increasing the rates it charges customers in Washington, D.C. who rent vehicles over the weekend. more ›

Foreclosure activity in the District of Columbia was down 39.31 percent in the first quarter of 2010 compared to the same time last year, and down 16.58 percent from the previous quarter, according to the latest data from RealtyTrac. more ›

Atlantic business editor Megan McArdle is one of many buyers frustrated with the current D.C. housing market. more ›

There's an almost palpable gnashing of teeth as Glenn Beck et al. were just handed another reason for middle Americans to bash our nation's capital. According to legal blog Above the Law, D.C. beat out San Francisco in a 61 percent blowout as the top destination for lawyers in a March Madness style poll. more ›

According to a new Center for Housing Policy study, D.C. was the sixth most expensive rental market in the country last year, ranking just behind New York's Suffolk County. The average rent for a two-bedroom apartment in 2009 was a reported $1,494. more ›

Here's an intriguing idea currently before the D.C. Council, courtesy Ward 1's Jim Graham. Proposed legislation could potentially ban city employers from using a job applicant's credit history as a factor in hiring decisions, the Examiner reports. The bill provides for a few important exceptions, such as top positions with financial institutions. But the idea is that employers shouldn't discriminate against hiring someone just because they screwed up on some credit cards payments. "Why put up an artificial barrier to hiring when it is already an uphill battle to find a job?" Graham told the Examiner. What do you think? Is it unfair for prospective employers to run credit checks before they hire someone? Or are they just trying to reasonably protect themselves from hiring someone who has been known to be irresponsible? more ›

January unemployment figures are out today, and D.C.'s Department of Employment Services puts the District's number at 12.0 percent. That's up ever so slightly -- 0.1 percentage points -- over December, as DOES now says the previous month saw an 11.9 percent jobless rate. But note that December's figure has been revised since it was first reported. Initially, December appeared to have marked a new record, with 12.1 percent of the city's population unemployed. The revised figure instead puts December on par with October 2009. more ›

Some potentially bad news for local arts crept under our radar at the end of February. The Virginia House of Delegates passed a budget proposal that includes a 50 percent cut to funding for the Commission for the Arts next year, and the total elimination of the agency by July 1, 2011. more ›

Only 16 percent of District homeowners were under water on their mortgages by the end of 2009, compared to a U.S. average of nearly 23.8 percent, according to the fourth quarter report released by FirstAmerican CoreLogic last week [.PDF]. That's roughly a third less than the national average. more ›

New revenue estimate figures for the District of Columbia released today paint an ever more bleak financial picture for the city. In a letter to the mayor and D.C. Council, District CFO Natwar Gandhi estimated FY2010 revenues are now down an additional $17.7 million, while 2011 looks worse still, with $49.4 million less than originally expected coming into District coffers. more ›

Big retail news from the Washington Business Journal: Metro Center area furniture store West Elm has announced it will close in mid-March. This is especially interesting considering the store was the recipient of a $5 million, 10-year TIF package from the District government in 2007 -- an incentive that was supposed to allow the retailer to repay bonds issued by the city with future tax revenue. But West Elm's sales tax receipts were already running below estimates over a year ago last year, and the recession appears to have finally done it in. more ›

Metro fares are slated to go up 10 cents across the board (with the exception of senior fares, which will only go up 5 cents) starting this Sunday, Feb. 28, thanks to a recent board of directors vote. But that's just the beginning. Come July, riders will almost surely be facing a much larger fare hike, thanks to a looming $189 million budget shortfall in FY2011. more ›

When news first broke a month ago that defense contracting giant Northrop Grumman Corp. was relocating its corporate headquarters to the Washington area, we were skeptical that they'd even consider coming to the District. Surely they'd want some sprawling property out in Fairfax County, or maybe Montgomery County. But lo, apparently they are actually giving a good hard look at two options inside the city, according to the Washington Business Journal's Jonathan O'Connell. "One is 1801 K St. NW, one of the largest private office buildings in D.C., a 560,00-square-foot building constructed in 1971 just renovated by Somerset Partners LLC. The other is 901 K St. NW, a newly renovated trophy property near Mount Vernon Triangle owned by Carr Properties. Both are being marketed by Jones Lang LaSalle." Naturally, members of the D.C. Council have proposed a package to entice the enormous corporation to pick one of the District locations, which includes $25 million worth of incentives. Word has it, however, that Crystal City has also become a leading contender. more ›

It looks like national politics junkies who are also transit nerds will be able to avoid making the tough choice tonight between watching the State of the Union address, or showing up for WMATA's big public hearing on the emergency budget options currently before the Metro board. The Metro hearing begins tonight at 5:30 p.m. (at Metro Headquarters, 600 Fifth Street NW), and God willing, it won't go on past 9 p.m., when the president's speech is set to start. more ›

New jobs figures out today from the District's Department of Employment Services show that D.C. unemployment reached a record high of 12.1 percent in the month of December. That's an increase of 0.3 percentage points over the previous month, and a full 2.1 percentage points higher than the national average, which is holding steady at 10.0 percent. more ›

The Examiner covers a proposal by Maryland state legislators to institute a 10-cent tax on every alcoholic beverage sold in the state, in an effort to help stop the budgetary bleeding that has led to a projected $2 billion shortfall. Much of the estimated $200 million the tax would raise would go toward expanding Medicaid and funding services for the mentally disabled. more ›

The Examiner's Kytja Weir reports today that WMATA is looking at laying off about 60 employees, as well as eliminating an additional 90 positions that are not currently filled. The move is of course part of Metro's still-evolving plan to cover an unexpected $40 million budget gap — a plan that now seems likely to include some service cuts and/or a sudden 10-cent surcharge on all fares. "The layoffs and job cuts are slated to primarily hit administrative workers, but some who make the trains and buses run could also be canned, said Metro spokesman Steven Taubenkibel. The exact jobs to be cut are still being determined, he said, but the pink slips are due by the end of March." more ›

As we reported Thursday evening, the WMATA board has scheduled a Jan. 27 public meeting to gather input on a proposed 10 cent fare increase, among four other measures that might be enacted to help make up the transit agency's huge budget gap. How do you feel about that extra 10 cents? more ›

Rumors flew wildly Wednesday night that Metro's board would decide today to go ahead and make major service cuts in an effort to trim its budget deficit. Among the proposals: 30-minute headways on most Metrorail lines after 9:30 p.m. But the reality of today's board meeting, as the Washington Post details, was that members were hard pressed to push forward on major service cuts, instead preferring a plan that would raise all fares by 10 cents almost immediately. more ›