Greater Washington Recovery Tracker January 2024

·         A winter chill has descended upon Greater Washington with a slowing job market and the seasonal effects of winter weather and December holidays.

·         Pedestrian activity, Metro ridership, and hotel occupancies have all been dampened by the colder weather and holidays.

·         The region’s office market saw reduced physical occupancy in properties and District tours were down as well.

·         The job market is beginning to feel the effects of a slowing global economy, particularly in office-using employment, which was 0.4% lower in November 2023 than one year ago.

·         On the other hand, retail employment improved for the second consecutive month for the holidays and federal government payrolls have begun to increase modestly.