Monday, February 23, 2009
As the nation's most populous metro area feels Wall Street's pain, the fourth-largest�Washington�is barely sensing the recession. In fact, Moody's Economy.com estimates that metro Washington's economy will actually grow 2.5% from mid-2008 through mid-2010. New York's economy is expected to shrink 4.2%.I wonder how much of that was the 1930s versus 1940s, when the war moved many people into DC to help with mobilization. Census data:
It wouldn't be the first time that Washington benefited from a national crisis. Back in 1930 the District of Columbia was a quiet Southern town, scoffed at by New York sophisticates. But as the federal government ramped up to fight first the Great Depression and then World War II, its population grew 65% in two decades, vs. just 14% for New York City.
1940 663,091 36%
1950 802,178 21%
Not as much the war.